Earnings Presentation

1Q'24

Forward Looking Statements

The following is a "safe harbor" statement under the Private Securities Litigation Reform Act of 1995: Certain statements and information in this presentation may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding (i) our expectations about our intrinsic value or our prospects for growth and value creation and (ii) our financial outlook, position, strategies, goals, and expectations. Terms such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "foresee," "intend," "may," "plan," "predict," "project," "scheduled," "should," "would," and similar expressions and the negatives of such terms are intended to identify forward-looking statements. These statements are based on management's beliefs, assumptions, and expectations based on currently available information, are not guarantees of future performance, and involve certain risks and uncertainties (some of which are beyond our control). Although we believe that the expectations reflected in these forward-looking statements are reasonable as and when made, we cannot provide assurance that our expectations will prove to be correct. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in these statements due to a number of factors, including, but not limited to: the effects of a widespread outbreak of an illness or disease or any other public health crisis, as well as regulatory measures implemented in response to such events; external events which may adversely affect us or the third parties who provide services for us, for which our business continuity plans may not adequately prepare us, including, but not limited to, acts of war or terrorism, or military conflicts; data privacy breaches, cybersecurity incidents, and/or failures of our information systems, including disruptions or failures of services essential to our operations or upon which our information technology platforms rely; interruption or failure of third-party software or information technology systems or licenses; untimely or ineffective development and implementation of, or failure to realize the potential benefits associated with, new or enhanced technology or processes, including our customer pilot offering of Vaux; the loss or reduction of business from large customers or an overall reduction in our customer base; the timing and performance of growth initiatives and the ability to manage our cost structure; the cost, integration, and performance of any recent or future acquisitions and the inability to realize the anticipated benefits of the acquisition within the expected time period or at all; unsolicited takeover proposals, proxy contests, and other proposals/actions by activist investors; maintaining our corporate reputation and intellectual property rights; nationwide or global disruption in the supply chain resulting in increased volatility in freight volumes; competitive initiatives and pricing pressures; increased prices for and decreased availability of equipment, including new revenue equipment, decreases in value of used revenue equipment, and higher costs of equipment-related operating expenses such as maintenance, fuel, and related taxes; availability of fuel, the effect of volatility in fuel prices and the associated changes in fuel surcharges on securing increases in base freight rates, and the inability to collect fuel surcharges; relationships with employees, including unions, and our ability to attract, retain, and upskill employees; unfavorable terms of, or the inability to reach agreement on, future collective bargaining agreements or a workforce stoppage by our employees covered under ABF Freight's collective bargaining agreement; union employee wages and benefits, including changes in required contributions to multiemployer plans; availability and cost of reliable third-party services; our ability to secure independent owner-operators and/or operational or regulatory issues related to our use of their services; litigation or claims asserted against us; governmental regulations; environmental laws and regulations, including emissions-control regulations; default on covenants of financing arrangements and the availability and terms of future financing arrangements; our ability to generate sufficient cash from operations to support significant ongoing capital expenditure requirements and other business initiatives; self-insurance claims, insurance premium costs, and loss of our ability to self-insure; potential impairment of long-lived assets and goodwill and intangible assets; general economic conditions and related shifts in market demand that impact the performance and needs of industries we serve and/or limit our customers' access to adequate financial resources; increasing costs due to inflation and higher interest rates; seasonal fluctuations, adverse weather conditions, natural disasters, and climate change; and other financial, operational, and legal risks and uncertainties detailed from time to time in ArcBest Corporation's public filings with the Securities and Exchange Commission ("SEC").

For additional information regarding known material factors that could cause our actual results to differ from those expressed in these forward-looking statements, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward- looking statements after the date they are made, whether as a result of new information, future events, or otherwise.

2

Three-Point Strategy Continues to Deliver Shareholder Value & Drive Business Growth

1

2

3

Accelerate Growth

Increase Efficiency

Drive Innovation

Secure new customers

Leverage technology

Develop and implement

disruptive and game changing

Expand with existing customers

Optimize ABF network

innovations

through market penetration

Drive scale and productivity to

Launch new revenue streams

Retain existing customers

improve Asset-Light operating

margin

Co-create and scale with

customers

ENHANCED

SHAREHOLDER

VALUE

3

A R C B E S T ' S C U S TO M E R - L E D S T R AT E G Y Y I E L D S R E S U LT S

>3x

Revenue

& Profit

Revenue & Profit per account

is over 3X higher in cross-soldaccounts

3x3x

Profit

Revenue

Single-Solution Accounts

Cross-Sold Accounts

>70%

Asset-Light +

Asset-Based

Over 70% of our

customers who use asset-lightservices also utilize our asset-basedservices

5%

Higher Customer Retention

Retention rates are 5

percentage points higher on cross-soldaccounts than on single-solution accounts

A customer-focused growth strategy enables faster

and more efficient growth

4

Q U A R T E R I N R E V I E W

3-Year High

Highest On-Time

+35%

Performance & Network

Efficiency Since 2021

Pipeline Since January

5

Customer Demand is

TH

Sustainability

Strong and Growing

Report Issued

Launched Vaux

$1B

Smart Autonomy

Revenue

Generated

53 NEW DOORS

New Service Center

Olathe, KS.

5

E X C E L L E N C E I N A C T I O N

10x Winner

ATA Excellence

in Security

10x Winner

ATA Cargo Claims

National Carrier of the Year

and Loss

Prevention

6

Q1 2024(1)

Key Metrics

ARCBEST CONSOLIDATED

(From Continuing Operations)

  1. All comparisons are on a year-over-year basis.
  2. See non-GAAP reconciliation in the Additional Information section of this presentation.

$1B

$42.6M

ArcBest

Non-GAAP

Consolidated Revenue

Operating Income(2)

-6%

-18%

SOLID FINANCIAL POSITION

$1.34/diluted share

Non-GAAP Net Income (2)

EBITDA(2)

Liquidity

Net Cash

$73M

$474M

$29M

-15%

7

Q1 2024(1)

Key Metrics

A S S E T- L I G H T

  1. All comparisons are on a year-over-year basis.
  2. See non-GAAP reconciliation in the Additional Information section of this presentation.

$396M

Revenue

-9% per day

A P R I L 2 0 2 4 P R E L I M I N A R Y

Revenue

-7% per day

($4.7M)

Non-GAAP Operating Loss(2)

-215%

($2.9M)

Adjusted EBITDA(2)

-148%

8

Q1 2024(1)

Key Metrics

A S S E T- B A S E D

  1. All comparisons are on a year-over-year basis.
  2. See non-GAAP reconciliation in the Additional Information section of this presentation.

$671M

Revenue

-3% per day

Daily Total

Daily Total

Tonnage

Shipments

-16.8%

-6.2%

Daily Core

9%

Daily Core

12%

Tonnage

Shipments

$53.5M

Non-GAAP Operating Income(2)

= Flat

92.0%

Non-GAAP Operating Ratio(2)

30 bps improvement

Total Billed

5.3%

Rev/CWT

Average Increase

on Contract

Renewals and

Deferred Pricing

15.6%

Agreements

150 bps

9

APRIL 2024(1)

Key Metrics

A S S E T- B A S E D

1) All comparisons are on a year-over-year basis.

A P R I L 2 0 2 4

P R E L I M I N A R Y

Daily Billed

Revenue

-4%

Daily Total

Daily Total

Tonnage

Shipments

-22%

-7%

Daily Core

9%

Daily Core

13%

Tonnage

Shipments

Total Billed

Rev/CWT

24%

Total Billed

Rev/Shipment

4%

Total

Weight/Shipment

-16%

10

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Disclaimer

ArcBest Corporation published this content on 30 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2024 10:25:18 UTC.