Key Highlights

• Q3 2026 Revenue increased 15% year over year to $1.2 billion

• Net Income was $51.7 million, or $2.30 per diluted share, compared to $39.3 million, or $1.72, in Q3 2025

• Asset-Light segment revenue grew 25.4% per day year over year, with Operating Income swinging to $12.5 million from a loss of $1.6 million

• Customer contract renewals averaged a 5.1% pricing increase during the quarter

ArcBest Corporation(NASDAQ:ARCB), a Supply chain logistics company, reported third-quarter 2026 financial results on November 4, 2026, showing revenue of $1.2 billion — a 15% increase from $1.0 billion in the same period a year ago. Net income rose to $51.7 million, or $2.30 per diluted share, compared to $39.3 million, or $1.72 per diluted share, in Q3 2025. On a non-GAAP basis, which excludes restructuring charges from the plan announced in July 2026, net income was $58.7 million, or $2.62 per diluted share.

Asset-Based Segment Performance

The Asset-Based segment, which is the company's larger operation, generated revenue of $798.6 million, up from $726.5 million in Q3 2025, a per-day increase of 9.9%. Tonnage per day increased 9.6%, driven by higher weight per shipment — which rose 13.0% — partially offset by a 3.0% decline in shipments per day. This shift in freight profile toward heavier shipments was a key theme during the quarter. Billed revenue per shipment increased 14.2%, while billed revenue per hundredweight rose 1.1%, largely reflecting higher fuel Surcharge revenue. Excluding fuel surcharges, revenue per hundredweight decreased in the low single digits. The segment reported operating income of $75.6 million at a 90.5% operating ratio on a GAAP basis. On a non-GAAP basis, operating income was $76.3 million at a 90.4% operating ratio, compared to $54.4 million and 92.5% a year ago. Customer contracts and deferred pricing agreements renewed during the quarter averaged a 5.1% increase, with LTL industry pricing described as remaining rational.

Asset-Light Segment Turnaround

The Asset-Light segment delivered a notable improvement, with revenue rising to $446.3 million from $356.0 million — a 25.4% per-day increase. Revenue per shipment jumped 23.8%, reflecting a tightening capacity environment. Shipments per day grew a modest 1.2%. The segment swung to an operating income of $12.5 million from an operating loss of $1.6 million in Q3 2025. On a non-GAAP basis, operating income was $14.4 million compared to $1.6 million, and Adjusted EBITDA reached $15.6 million versus $3.1 million. Revenue growth, combined with disciplined cost management and productivity improvements, drove the turnaround. Sequentially, daily revenue increased 0.9% from Q2 2026, with revenue per shipment rising 3.8%, partially offset by a 2.7% decrease in daily shipments.

Operational Drivers and Efficiency Gains

CEO Seth Runser attributed the quarter's results to disciplined execution, continued momentum in the Asset-Light business, and ongoing savings from organizational simplification. The restructuring plan announced on July 16, 2026, contributed to cost savings during the quarter. In the Asset-Based segment, operating expenses increased due to annual union wage and benefit adjustments, along with higher fuel and purchased transportation costs. Purchased transportation expense in the Asset-Light segment was 85.0% of revenue, roughly in line with 84.9% a year ago. The company also continued investing in technology and innovation to support long-term growth.

Looking Ahead

ArcBest's Q3 2026 results reflect a logistics Business benefiting from a tightening freight environment, particularly in the Asset-Light segment. The continued shift toward heavier shipments in the Asset-Based business is driving revenue per shipment growth, although shipment counts per day have declined. Pricing discipline remains a feature across both segments, with contract renewals trending upward. With restructuring savings continuing to flow through and both segments delivering improved profitability, the company appears positioned to carry momentum into the final quarter of 2026.