ArcBest Announces First Quarter 2021 Results

By Arc Best5 days ago

FORT SMITH, Ark., May 4, 2021 /PRNewswire/ -- ArcBest (Nasdaq: ARCB), a leader in supply chain logistics, today reported first quarter 2021 revenue of $829.2million compared to first quarter 2020 revenue of $701.4million. ArcBest's first quarter 2021 operating income was $32.2million and net income was $23.4 million, or $0.87 per diluted share compared to first quarter 2020 operating income of $7.8 million and net income of $1.9 million, or $0.07 per diluted share.

Excluding certain items in both periods as identified in the attached reconciliation tables, non-GAAP operating income was $39.1 million in first quarter 2021 compared to first quarter 2020 operating income of $12.4 million. On a non-GAAP basis, net income was $27.2 million, or $1.01 per diluted share in first quarter 2021 compared to first quarter 2020 net income of $9.4 million, or $0.36 per diluted share.

AD

We're pleased to report our best-ever operating income for the first quarter as well as increased revenue and profitability in what is historically the most challenging quarter of the year, said Judy R. McReynolds, ArcBest chairman, president and CEO. These strong results reflect our ability to create solutions to support our customers as they continue to face supply chain challenges associated with their rebound from the COVID-19 pandemic.

First Quarter Results of Operations Comparisons

Asset-Based

Continue read on prnewswire.com