ArcBest Corporation

ArcBest combines ABF Freight's less-than-truckload network with an Asset-Light business that arranges shipments and logistics services. Freight volumes, pricing, labor costs and outside transportation costs influence the two operations differently.

The third-quarter comparison

Quarters ended September 30. Dollar amounts in millions. Revenue, operating income and net income are GAAP; adjusted operating income is non-GAAP.

Measure	2026	2025
Revenue	$1,210.5	$1,048.1
Operating income	$73.3	$54.6
Net income	$51.7	$39.3
Adjusted operating income	$85.5	$49.8
Asset-Light operating income	$12.5	-$1.6
Asset-Light adjusted operating income	$14.4	$1.6

Adjusted operating income removes specified technology, restructuring, amortization and property-sale items. The fourth-quarter Asset-Light forecast is $17 million to $20 million on a reported basis and $7 million to $10 million adjusted, with the expected lease gain removed and amortization added back.

Cash and the balance sheet

Nine-month operating cash flow was $255.2 million. Cash spending on property and equipment was $36.0 million and on software $10.6 million; another $59.8 million of equipment purchases was financed through notes payable.

At September 30, cash and cash equivalents were $184.9 million and short-term investments $22.4 million. Current debt was $88.3 million and long-term debt $106.3 million. Operating-lease liabilities were $36.2 million current and $200.7 million noncurrent. Available borrowing capacity under the revolving facility was $224.1 million at September 30. The accounts-receivable securitization program had been terminated in May.

The October office-lease payment and expected fourth-quarter gain fall after that financial snapshot. The current report also records $14 million of additional share repurchases after September 30. ArcBest expects about $26 million of cumulative lease-cost savings over the remaining term ending April 30, 2034.

Read our analysis of ArcBest's lease gain and cash payment.