ArcBest raised its third-quarter guidance for its asset-light segment and reiterated its asset-based margin outlook after reporting accelerating August tonnage growth. The asset-based unit, which includes ABF Freight, saw revenue per day rise 9% year over year in August, up from 7.7% in July, driven by a 9% increase in tonnage with no change in yield. Excluding fuel, yield declined by a low-single-digit percentage, as heavier shipment weights, up 14% year over year, pressured yields but typically aid margins. The asset-light segment, including truck brokerage, now expects adjusted operating income of $10 million to $12 million for the third quarter, up from its initial $6 million to $8 million guidance, citing yield discipline and productivity gains. ArcBest's mid-quarter update offers insight into the less-than-truckload market, where public data is scarce.
ArcBest CorpAugust tonnage up 9% YoY, driving higher revenue per day and raised Q3 asset-light guidance.
Central Holding Group Co Ltd