| Schedule of reportable operating segment information |
| | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | June 30 | | June 30 | | | | 2026 | | 2025 | | 2026 | | 2025 | | | | | (in thousands) | | REVENUES | | | | | | | | | | | | | | Asset-Based | | $ | 783,671 | | $ | 713,312 | | $ | 1,438,678 | | $ | 1,359,606 | | Asset-Light | | | 438,705 | | | 341,922 | | | 816,451 | | | 697,934 | | Other and eliminations | | | (37,843) | | | (32,978) | | | (71,810) | | | (68,207) | | Total consolidated revenues | | $ | 1,184,533 | | $ | 1,022,256 | | $ | 2,183,319 | | $ | 1,989,333 | | | | | | | | | | | | | | | | OPERATING EXPENSES | | | | | | | | | | | | | | Asset-Based | | | | | | | | | | | | | | Salaries, wages, and benefits | | $ | 374,101 | | $ | 365,929 | | $ | 729,240 | | $ | 710,070 | | Fuel, supplies, and expenses | | | 97,832 | | | 79,834 | | | 179,417 | | | 157,476 | | Operating taxes and licenses | | | 14,136 | | | 13,845 | | | 28,604 | | | 26,957 | | Insurance | | | 16,505 | | | 17,653 | | | 32,574 | | | 35,616 | | Communications and utilities | | | 5,270 | | | 5,150 | | | 11,029 | | | 10,960 | | Depreciation and amortization | | | 36,632 | | | 31,664 | | | 72,843 | | | 62,254 | | Rents and purchased transportation | | | 90,112 | | | 76,198 | | | 158,772 | | | 143,359 | | Shared services | | | 74,352 | | | 69,868 | | | 133,516 | | | 132,311 | | Restructuring charges(1) | | | 953 | | | — | | | 953 | | | — | | Gain on sale of property and equipment(2) | | | (2,496) | | | (159) | | | (2,352) | | | (136) | | Other | | | 2,022 | | | 2,301 | | | 2,353 | | | 3,293 | | Total Asset-Based | | | 709,419 | | | 662,283 | | | 1,346,949 | | | 1,282,160 | | | | | | | | | | | | | | | | Asset-Light | | | | | | | | | | | | | | Purchased transportation | | | 379,313 | | | 288,580 | | | 704,984 | | | 593,194 | | Salaries, wages, and benefits | | | 29,095 | | | 25,629 | | | 51,840 | | | 51,178 | | Supplies and expenses | | | 1,670 | | | 1,739 | | | 3,119 | | | 3,478 | | Depreciation and amortization(3) | | | 3,881 | | | 4,605 | | | 7,891 | | | 9,223 | | Shared services | | | 13,925 | | | 18,594 | | | 32,694 | | | 36,575 | | Asset impairment charges(4) | | | 34,503 | | | — | | | 34,503 | | | — | | Restructuring charges(1) | | | 712 | | | — | | | 712 | | | — | | Contingent consideration(5) | | | — | | | (2,650) | | | — | | | (2,650) | | Other | | | 6,954 | | | 4,834 | | | 11,825 | | | 10,725 | | Total Asset-Light | | | 470,053 | | | 341,331 | | | 847,568 | | | 701,723 | | | | | | | | | | | | | | | | Other and eliminations(6) | | | 25,684 | | | (18,667) | | | 5,995 | | | (38,489) | | Total consolidated operating expenses | | $ | 1,205,156 | | $ | 984,947 | | $ | 2,200,512 | | $ | 1,945,394 | |
| (1) | Restructuring charges relate to realignment of the Company’s organizational structure as previously described in Note A. |
| (2) | The 2026 periods include $2.9 million gain on the sale of a service center during second quarter 2026. |
| (3) | Depreciation and amortization includes amortization of intangibles associated with acquired businesses. |
| (4) | Represents noncash asset impairment charges of $25.7 million to write off the Panther trade name in connection with a strategic brand consolidation decision within Asset-Light’s operations and $8.8 million associated with the probable sublease of a portion of leased office space. |
| (5) | Represents the change in fair value of the contingent earnout consideration related to the MoLo acquisition. The Company reduced the contingent consideration for the MoLo acquisition to zero in second quarter 2025, reflecting the probability of no earnout payment based on projections of adjusted earnings before interest, taxes, depreciation, and amortization for 2025. |
| (6) | The 2026 periods include $50.8 million in asset impairment charges related to the write-off of certain equipment and other assets associated with the discontinuance of the Vaux Freight Movement System and $0.5 million in restructuring charges in connection with the previously described restructuring plan. “Other” also includes corporate costs for certain unallocated shared service costs which are not attributable to any segment, additional investments to offer comprehensive transportation and logistics services across multiple operating segments, costs related to the customer offering of Vaux, and other investments in ArcBest technology and innovations. |
| | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30 | | June 30 | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in thousands) | OPERATING INCOME (LOSS) | | | | | | | | | | | | | Asset-Based | | $ | 74,252 | | $ | 51,029 | | $ | 91,729 | | $ | 77,446 | Asset-Light(1) | | | (31,348) | | | 591 | | | (31,117) | | | (3,789) | Other and eliminations(2) | | | (63,527) | | | (14,311) | | | (77,805) | | | (29,718) | Total consolidated operating income (loss) | | $ | (20,623) | | $ | 37,309 | | $ | (17,193) | | $ | 43,939 | OTHER INCOME (COSTS) | | | | | | | | | | | | | Interest and dividend income | | $ | 906 | | $ | 1,037 | | $ | 1,582 | | $ | 2,187 | Interest and other related financing costs | | | (3,391) | | | (2,956) | | | (7,679) | | | (5,711) | Other, net | | | 2,152 | | | 578 | | | 1,000 | | | (273) | Total other income (costs) | | | (333) | | | (1,341) | | | (5,097) | | | (3,797) | INCOME (LOSS) BEFORE INCOME TAXES | | $ | (20,956) | | $ | 35,968 | | $ | (22,290) | | $ | 40,142 |
| (1) | The 2026 periods include noncash asset impairment charges of $25.7 million to write off the Panther trade name in connection with a strategic brand consolidation decision within Asset-Light’s operations and $8.8 million associated with the probable sublease of a portion of leased office space. |
| (2) | The 2026 periods include $50.8 million in asset impairment charges related to the write-off of certain equipment and other assets associated with the discontinuance of the Vaux Freight Movement System and $0.5 million in restructuring charges in connection with the previously described restructuring plan. |
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| Schedule of consolidated operating expenses by component |
| | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | June 30 | | June 30 | | | | 2026 | | 2025 | | 2026 | | 2025 | | | | | (in thousands) | | OPERATING EXPENSES | | | | | | | | | | | | | | Salaries, wages, and benefits | | $ | 470,613 | | $ | 458,115 | | $ | 909,134 | | $ | 890,003 | | Rents, purchased transportation, and other costs of services | | | 428,297 | | | 328,570 | | | 785,920 | | | 662,341 | | Fuel, supplies, and expenses | | | 125,914 | | | 110,530 | | | 233,962 | | | 216,476 | | Depreciation and amortization(1) | | | 44,681 | | | 40,926 | | | 88,985 | | | 80,890 | | Asset impairment charges(2) | | | 85,266 | | | — | | | 85,266 | | | — | | Restructuring charges(3) | | | 2,173 | | | — | | | 2,173 | | | — | | Contingent consideration(4) | | | — | | | (2,650) | | | — | | | (2,650) | | Other | | | 48,212 | | | 49,456 | | | 95,072 | | | 98,334 | | | | $ | 1,205,156 | | $ | 984,947 | | $ | 2,200,512 | | $ | 1,945,394 | |
| (1) | Includes amortization of intangible assets. |
| (2) | The 2026 periods include noncash asset impairment charges of $50.8 million related to the write-off of certain equipment and other assets associated with the discontinuance of the Vaux Freight Movement System, $25.7 million to write off the remaining carrying value of the Panther trade name, and $8.8 million associated with the probable sublease of a portion of leased office space, as previously described. |
| (3) | Represents restructuring charges for the realignment of the Company organizational structure, as previously described. |
| (4) | Represents the change in fair value of the contingent consideration recorded for the MoLo acquisition, as further discussed in the Asset-Light Operating Expenses section below. |
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