ARCBEST CORP /TX/
For the period ended Nov 4, 2026. Filed Nov 4, 2026.
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Nov 4, 2026 · Filed Nov 4, 2026
Contents
EX-99.2 · Asset-Based Operating Segment
Asset-Based Operating Segment
Average price increase on contract renewals negotiated during the third quarter of 2026: +5.1%
| · · · · · · · · · · · · · | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Year-over-Year Business Trends · · · July 2026 · · August 2026 · · September 2026 · · October 2026 | ||||||||||
| · · · · · · · · · · · · · | ||||||||||
| Billed Revenue(1) / Day | | | +7.7% | | +9.1% | | +15.8% | | +20% | |
| Tonnage / Day | | +8.1% | +9.1% | +11.6% | +15% | |||||
| Shipments / Day | | -3.3% | -4.0% | -1.6% | +1% | |||||
| Billed Revenue(1) / Shipment | | | +11.4% | | +13.7% | | +17.7% | +18% | ||
| Billed Revenue(1) / CWT | | | -0.4% | | flat | | | +3.8% | +4% | |
| Weight / Shipment | | | +11.8% | | +13.7% | | +13.5% | +14% | ||
| 1) | Revenue associated with undelivered freight is deferred for financial reporting purposes in accordance with the Asset-Based segment’s revenue recognition policy. Billed revenue has not been adjusted to exclude amounts deferred under that policy. |
In October, Asset-Based daily tonnage increased approximately 15% year-over-year, driven by a 14% increase in weight per shipment and a 1% increase in shipments per day. The higher weight per shipment continues to reflect changes in freight profile.
Billed revenue per shipment increased 18% year-over-year, reflecting the heavier freight profile and a 4% increase in billed revenue per hundredweight. Excluding fuel surcharge, revenue per hundredweight declined in the low single digits, primarily due to changes in freight profile.
Compared with September, daily tonnage decreased approximately 1% as shipments per day were down 2%, while weight per shipment increased by 1%. Billed revenue per shipment was flat on a sequential basis, due to the 1% higher weight per shipment that was offset by a 1% lower billed revenue per hundredweight.
From 2016 through 2025, ABF’s non-GAAP operating ratio deteriorated by an average of approximately 180 basis points from the third quarter to the fourth quarter, excluding 2020 and 2023, which were affected by significant market disruptions. This analysis is based on non-GAAP operating ratio and excludes the items identified in the Company's historical non-GAAP reconciliations included in previously furnished earnings releases.
Based on current trends, the Company expects ABF’s fourth quarter 2026 non-GAAP operating ratio to deteriorate by approximately 50 to 150 basis points sequentially from the third quarter of 2026. The Company does not currently expect a significant difference between GAAP and non-GAAP operating ratios for the fourth quarter of 2026.
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