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1923
1OO
2O23
2023 Annual Report
0
Message from
Message
from the
the
Chairman
Chairman
As we concLude
conclude our 100-year ceLebration
celebration and move into the next
remarkabLe accompLishments
century, I refLect
reflect on our history of remarkable
accomplishments
and endurance with a sense of pride. At the same time, I Look
look
forward to the future and the exciting possibiLities
possibilities it hoLds.
holds. We have
have
emerged as one of the most resiLient,
resilient, innovative and customercustomerfocused companies in our industry, and we're
we   re acceLerating
accelerating forward
into the next 100 years.
years.
We're proud
We   re
proud of our roots as a local Arkansas freight hauler, but
today our customers know and rely
rely on
on us for so much
much more.
Through our portfolio of supply chain solutions, innovative
technology and experienced
experienced people,
people, ArcBest is a logistics
powerhouse, launching ground-breaking technologies and
and
with customers     from
partnering with
from small businesses to
to some of
the nation's
nation   s largest
largest enterprises     to meet their real-world
real-world logistics
them achieve scale and growth
needs while helping them
growth and
and solving
solving
some of their most pressing supply chain challenges.
Driven by our values, we
we continue
continue delivering on our mission
mission to
to
connect and positively impact the world
world through
through solving
solving logistics
challenges. I am
am pleased
pleased to
to share some of ArcBest's
ArcBest   s 2023
highlights, which
which demonstrate this positive impact.
The
of Our
The Strength
Strength of
Our Strategy
Strategy
Despite a year of softer freight demand and
and market
market disruptions, our
2023 results remained
remained strong.
strong. Our strategy and deep relationships
prevailed as customers trusted
trusted our integrated solutions to
to keep
their freight moving, relying on the tenacity and expertise of our
people and
and the power of
of the scale of our capacity network to
build
to build
flexibility and efficiency into their supply chains.
Our long-term
and
long-term management of the business, cost discipline, and
balanced approach towards capital allocation
allocation and revenue mix have
enabled us to end
end the year with
with financial strength while creating
optimism
the future.
future. We generated customer growth, achieved
optimism for the
record shipment levels for our managed transportation
transportation business,
drove efficiencies, and
and launched
launched award-winning
award-winning innovations.
innovations.
The Power
Power of
of Our
Our Integrated
The
Integrated Solutions
Solutions
As an integrated
with a variety of transportation
transportation
integrated logistics company with
modes and
and capacity options, ArcBest
ArcBest is
is uniquely positioned
positioned to
to
help our
our customers find
find the best mix of solutions for their needs.
Whether they need a single solution, such
such as
as LTL
LTL or
or truckload, or a
combination of solutions, such
combination
such as
as ground
ground expedite, intermodal or
charter, we can provide an optimal balance of speed, cost and
air charter,
reliability.
With unexpected industry challenges in
in 2023
2023 that left many
term and
customers seeking capacity in the short term
and trusted
trusted
partnerships in
in the long term, the need
need for agility and reliability
became very clear. Our flexible and diverse network and logistics
expertise resonated
resonated with
with our customers as we helped
helped them
them pivot
their strategies to
to navigate these
these challenges,
challenges, playing aa vital role
in keeping their supply
supply chains moving and businesses
businesses growing.
growing.
Investing in
in Our
Technology
Investing
Our Technology
Innovation is
is a pillar of our customer-focused strategy,
strategy, and
and ArcBest
ArcBest
is an industry leader in helping create
create more efficient, visible
and sustainable supply chains. We take a pragmatic approach
approach
to our customers and working alongside
to innovation, listening to
them to
to develop
develop solutions
solutions that directly address their needs. While
there were many
many milestone achievements on the technology front
in 2023,
2023, perhaps
perhaps the
the most talked
talked about one was the launch
launch of
our Vauxrm
Vaux    Freight Movement System. Named a 2023 TIME's
TIME   s Best
Best
Invention, the Vaux Freight Movement System is an innovative suite
hardware and
of hardware
and software
software that transforms how freight is loaded,
loaded,
unloaded and
and transferred
transferred inside warehouses, on
on docks
docks and
and over
the road
road    
    taking a process that previously
previously took hours down
down to
to
just minutes.
Investing
Our People
Investing in
in Our
People
We know that serving our customers well isn   t
isn't just about having
employees who know how to do their jobs; it's
it   s about having
employees who are engaged, well-supported, and encouraged
encouraged
to grow their skills.
skills. Our
Our people are the heart of our success, and
and
we prioritize bringing the
the right
right people
people on
on board, nurturing their
development and cultivating a collaborative workplace where
everyone can
can thrive. We're
We   re proud to
to have been recognized by
Forbes as a 2023 America's
America   s Best-in-State Employer, aa testament of
our commitment to our people
people and
and rewarding work environment.
We also remain
remain committed
committed to
to a workplace that respects unique
experiences and perspectives. Building on our diversity, equity and
inclusion
progress, one example
example of how we continued
continued investing in
in
inclusion progress,
our people in 2023 is
is the launch
launch of four new Employee Resource
Groups centered around women, veterans, neurodiversity and
employees of color.
The Next
Next 100
100
The
We are committed
committed to
to creating value by remaining focused
focused on
on
continued growth,
continued
growth, innovation
innovation and resilience.
resilience. With
With our integrated
solutions, cutting-edge technology, and talented
talented people,
people, combined
combined
with our financial strength and
with
and dedication
dedication to
to creatively meeting
our customers'
customers    needs, we are well-positioned
well-positioned to
to navigate market
while pursuing
for long-term
challenges effectively while
pursuing our strategy for
long-term
growth and
growth
and sustained profitability.
profitability.
As we embark on the next 100 years, I want to
to express
express my sincere
gratitude to:
to:
    Our
Our employees, for your hard
hard work, passion and
and loyalty
loyalty
    Our
Our customers, for your trust, partnership and
and feedback
    Our
Our shareholders, for your support, confidence and
and investment
    Our
Our other stakeholders,
stakeholders, for your collaboration, contribution
contribution
and impact
I am confident we are on the right path today and into the next
100 years.
91,,,atz)
Judy
R. M
McReynolds
J u d y R.
cReynolds
ArcBest chairman, president and CEO
CEO
Certain
may
be
C e r t a i n sstatements
t a t e m e n t s ccontained
o n t a i n e d hherein
erein m
ay b
e cconsidered
o n s i d e r e d "   forward
f o r w a r d llooking-statements.   
ooking-statements."
See
Statements   
ArcBest   s
Annual
on
See "   Forward-Looking
Forward-Looking S
t a t e m e n t s " iin
n A
r c B e s t ' s 22023
023 A
n n u a l Report
Report o
n FForm
o r m 110-K
0 - K ffor
or
a d d i t i o n a l information.
information.
additional
ArcBest
Our
Our Company
Compa
ArcBest
is a
a multibillion-dollar
integrated logistics
logistics company
company that
leverages technology
technology
ArcBest is
multibillion-dollar integrated
that leverages
and
suite of
of shipping
shipping and
and logistics
logistics solutions
solutions to
to meet
meet our
our customers   
supply
and aa full
full suite
customers' supply
chain
needs.
chain needs.
We started
started 100
100 years
years ago
ago as
as a LocaL
local
supply chain
chain needs
needs become
become more
more compLex,
complex,
Arkansas freight hauLer.
hauler. Today,
Today, we
we are
are aa
the
key to
to success
success lies
lies in
in the
the ability
ability to
to soLve
solve
the key
publicly traded
traded Logistics
logistics powerhouse
powerhouse with
with
problems
in new
new ways. With
With innovation
innovation as
as
probLerns in
global
reach and
and 15,000
15,000 erinpLoyees
employees across
across
gLobaL reach
a pillar of our strategy,
strategy, we're
we   re committed
committed
250 campuses
campuses and
and service
service centers.
centers. This
This
to
being on
on the
the reading
leading edge and
and heLping
helping
to being
transformation
is the
the resuLt
result of organic
organic
transformation is
our
customers navigate
navigate their logistics
logistics
our customers
growth,
strategic acquisitions,
acquisitions, visionary
growth, strategic
challenges now
now and
and in
in the
the future.
future. We
We invest
leadership
and skilled,
skilled, resilient peopLe
people who
who
readership and
in transformative,
transformative, strategic
strategic initiatives
initiatives and
and
are driven
driven to
to find
find a way to get the job done.
encourage our
our employees
employees to
to think
think creatively
Using our technology,
technology, expertise
expertise and
and power
power
of scare,
scale, we
we connect shippers with
with the
the
solutions
they need
need    
    from
from ground,
ground, air
soLutions they
and ocean
ocean transportation
transportation to
to fully
fully managed
managed
supply chain
chain soLutions
solutions    
    serving
serving our
customers
as a singe
single Logistics
logistics resource.
resource.
customers as
We   re
and aa trusted
trusted advisor.
advisor. In
In
We're a partner and
decisions large
large and
and small,
small, from
from the
the peopLe
people
we hire
hire to
to the
the soLutions
solutions and
and technoLogy
technology
we deveLop,
develop, we
we ask
ask ourseLves
ourselves a simpLe
simple
question:
   Is this
this best for our customers?"
customers?   
question: "Is
We put
put ourseLves
ourselves in
in their
their shoes, get to
to
know their
their business, and
and constantly
constantly rook
look for
for
opportunities
to optimize.
optimize. The
The soLutions
solutions and
and
opportunities to
strategies we
we recommend
recommend align
align with
with their
their
goals
    whether
whether that's
that   s creating efficiencies,
efficiencies,
goaLs    
ensuring capacity,
capacity, panning
planning for seasonaL
seasonal
surges,
reducing costs,
costs, improving on-time
on-time
surges, reducing
metrics
or reducing damage.
damage. And
And when
when the
the
metrics or
unexpected
happens, we're
we   re here
here to
to heLp
help
unexpected happens,
them
quickly pivot to
to overcome
overcome disruptions
disruptions
them quickly
and keep
keep their
their supply chain
chain moving.
moving.
Our tong
long history
history of
of innovation
innovation enriches
enriches
these
deep customer
customer reLationships.
relationships. As
As
these deep
and challenge
challenge how
how things
things have
have aLways
always been
been
done.
And we're
we   re constantly
constantly deveLoping
developing
done. And
intelligent soLutions
solutions that
that create
create operationaL
operational
efficiencies
and move
move the
the gLobaL
global supply
efficiencies and
chain
forward.
chain forward.
U M W % 100 M
1923 A r c B e s t 2023
ArcBest
 • shareholder letter icon 3/15/2024 Letter Continued (Full PDF)
 • stockholder letter icon 3/17/2023 ARCB Stockholder Letter
 • stockholder letter icon More "Trucking" Category Stockholder Letters
 • Benford's Law Stocks icon ARCB Benford's Law Stock Score = 80


ARCB Shareholder/Stockholder Letter Transcript:

1923
1OO
2O23
2023 Annual Report

0


Message from
Message
from the
the
Chairman
Chairman
As we concLude
conclude our 100-year ceLebration
celebration and move into the next
remarkabLe accompLishments
century, I refLect
reflect on our history of remarkable
accomplishments
and endurance with a sense of pride. At the same time, I Look
look
forward to the future and the exciting possibiLities
possibilities it hoLds.
holds. We have
have
emerged as one of the most resiLient,
resilient, innovative and customercustomerfocused companies in our industry, and we're
we   re acceLerating
accelerating forward
into the next 100 years.
years.
We're proud
We   re
proud of our roots as a local Arkansas freight hauler, but
today our customers know and rely
rely on
on us for so much
much more.
Through our portfolio of supply chain solutions, innovative
technology and experienced
experienced people,
people, ArcBest is a logistics
powerhouse, launching ground-breaking technologies and
and
with customers     from
partnering with
from small businesses to
to some of
the nation's
nation   s largest
largest enterprises     to meet their real-world
real-world logistics
them achieve scale and growth
needs while helping them
growth and
and solving
solving
some of their most pressing supply chain challenges.
Driven by our values, we
we continue
continue delivering on our mission
mission to
to
connect and positively impact the world
world through
through solving
solving logistics
challenges. I am
am pleased
pleased to
to share some of ArcBest's
ArcBest   s 2023
highlights, which
which demonstrate this positive impact.
The
of Our
The Strength
Strength of
Our Strategy
Strategy
Despite a year of softer freight demand and
and market
market disruptions, our
2023 results remained
remained strong.
strong. Our strategy and deep relationships
prevailed as customers trusted
trusted our integrated solutions to
to keep
their freight moving, relying on the tenacity and expertise of our
people and
and the power of
of the scale of our capacity network to
build
to build
flexibility and efficiency into their supply chains.
Our long-term
and
long-term management of the business, cost discipline, and
balanced approach towards capital allocation
allocation and revenue mix have
enabled us to end
end the year with
with financial strength while creating
optimism
the future.
future. We generated customer growth, achieved
optimism for the
record shipment levels for our managed transportation
transportation business,
drove efficiencies, and
and launched
launched award-winning
award-winning innovations.
innovations.
The Power
Power of
of Our
Our Integrated
The
Integrated Solutions
Solutions
As an integrated
with a variety of transportation
transportation
integrated logistics company with
modes and
and capacity options, ArcBest
ArcBest is
is uniquely positioned
positioned to
to
help our
our customers find
find the best mix of solutions for their needs.
Whether they need a single solution, such
such as
as LTL
LTL or
or truckload, or a
combination of solutions, such
combination
such as
as ground
ground expedite, intermodal or
charter, we can provide an optimal balance of speed, cost and
air charter,
reliability.
With unexpected industry challenges in
in 2023
2023 that left many
term and
customers seeking capacity in the short term
and trusted
trusted
partnerships in
in the long term, the need
need for agility and reliability
became very clear. Our flexible and diverse network and logistics
expertise resonated
resonated with
with our customers as we helped
helped them
them pivot
their strategies to
to navigate these
these challenges,
challenges, playing aa vital role
in keeping their supply
supply chains moving and businesses
businesses growing.
growing.
Investing in
in Our
Technology
Investing
Our Technology
Innovation is
is a pillar of our customer-focused strategy,
strategy, and
and ArcBest
ArcBest
is an industry leader in helping create
create more efficient, visible
and sustainable supply chains. We take a pragmatic approach
approach
to our customers and working alongside
to innovation, listening to
them to
to develop
develop solutions
solutions that directly address their needs. While
there were many
many milestone achievements on the technology front
in 2023,
2023, perhaps
perhaps the
the most talked
talked about one was the launch
launch of
our Vauxrm
Vaux    Freight Movement System. Named a 2023 TIME's
TIME   s Best
Best
Invention, the Vaux Freight Movement System is an innovative suite
hardware and
of hardware
and software
software that transforms how freight is loaded,
loaded,
unloaded and
and transferred
transferred inside warehouses, on
on docks
docks and
and over
the road
road    
    taking a process that previously
previously took hours down
down to
to
just minutes.
Investing
Our People
Investing in
in Our
People
We know that serving our customers well isn   t
isn't just about having
employees who know how to do their jobs; it's
it   s about having
employees who are engaged, well-supported, and encouraged
encouraged
to grow their skills.
skills. Our
Our people are the heart of our success, and
and
we prioritize bringing the
the right
right people
people on
on board, nurturing their
development and cultivating a collaborative workplace where
everyone can
can thrive. We're
We   re proud to
to have been recognized by
Forbes as a 2023 America's
America   s Best-in-State Employer, aa testament of
our commitment to our people
people and
and rewarding work environment.
We also remain
remain committed
committed to
to a workplace that respects unique
experiences and perspectives. Building on our diversity, equity and
inclusion
progress, one example
example of how we continued
continued investing in
in
inclusion progress,
our people in 2023 is
is the launch
launch of four new Employee Resource
Groups centered around women, veterans, neurodiversity and
employees of color.
The Next
Next 100
100
The
We are committed
committed to
to creating value by remaining focused
focused on
on
continued growth,
continued
growth, innovation
innovation and resilience.
resilience. With
With our integrated
solutions, cutting-edge technology, and talented
talented people,
people, combined
combined
with our financial strength and
with
and dedication
dedication to
to creatively meeting
our customers'
customers    needs, we are well-positioned
well-positioned to
to navigate market
while pursuing
for long-term
challenges effectively while
pursuing our strategy for
long-term
growth and
growth
and sustained profitability.
profitability.
As we embark on the next 100 years, I want to
to express
express my sincere
gratitude to:
to:
    Our
Our employees, for your hard
hard work, passion and
and loyalty
loyalty
    Our
Our customers, for your trust, partnership and
and feedback
    Our
Our shareholders, for your support, confidence and
and investment
    Our
Our other stakeholders,
stakeholders, for your collaboration, contribution
contribution
and impact
I am confident we are on the right path today and into the next
100 years.
91,,,atz)
Judy
R. M
McReynolds
J u d y R.
cReynolds
ArcBest chairman, president and CEO
CEO
Certain
may
be
C e r t a i n sstatements
t a t e m e n t s ccontained
o n t a i n e d hherein
erein m
ay b
e cconsidered
o n s i d e r e d "   forward
f o r w a r d llooking-statements.   
ooking-statements."
See
Statements   
ArcBest   s
Annual
on
See "   Forward-Looking
Forward-Looking S
t a t e m e n t s " iin
n A
r c B e s t ' s 22023
023 A
n n u a l Report
Report o
n FForm
o r m 110-K
0 - K ffor
or
a d d i t i o n a l information.
information.
additional
ArcBest

Our
Our Company
Compa
ArcBest
is a
a multibillion-dollar
integrated logistics
logistics company
company that
leverages technology
technology
ArcBest is
multibillion-dollar integrated
that leverages
and
suite of
of shipping
shipping and
and logistics
logistics solutions
solutions to
to meet
meet our
our customers   
supply
and aa full
full suite
customers' supply
chain
needs.
chain needs.
We started
started 100
100 years
years ago
ago as
as a LocaL
local
supply chain
chain needs
needs become
become more
more compLex,
complex,
Arkansas freight hauLer.
hauler. Today,
Today, we
we are
are aa
the
key to
to success
success lies
lies in
in the
the ability
ability to
to soLve
solve
the key
publicly traded
traded Logistics
logistics powerhouse
powerhouse with
with
problems
in new
new ways. With
With innovation
innovation as
as
probLerns in
global
reach and
and 15,000
15,000 erinpLoyees
employees across
across
gLobaL reach
a pillar of our strategy,
strategy, we're
we   re committed
committed
250 campuses
campuses and
and service
service centers.
centers. This
This
to
being on
on the
the reading
leading edge and
and heLping
helping
to being
transformation
is the
the resuLt
result of organic
organic
transformation is
our
customers navigate
navigate their logistics
logistics
our customers
growth,
strategic acquisitions,
acquisitions, visionary
growth, strategic
challenges now
now and
and in
in the
the future.
future. We
We invest
leadership
and skilled,
skilled, resilient peopLe
people who
who
readership and
in transformative,
transformative, strategic
strategic initiatives
initiatives and
and
are driven
driven to
to find
find a way to get the job done.
encourage our
our employees
employees to
to think
think creatively
Using our technology,
technology, expertise
expertise and
and power
power
of scare,
scale, we
we connect shippers with
with the
the
solutions
they need
need    
    from
from ground,
ground, air
soLutions they
and ocean
ocean transportation
transportation to
to fully
fully managed
managed
supply chain
chain soLutions
solutions    
    serving
serving our
customers
as a singe
single Logistics
logistics resource.
resource.
customers as
We   re
and aa trusted
trusted advisor.
advisor. In
In
We're a partner and
decisions large
large and
and small,
small, from
from the
the peopLe
people
we hire
hire to
to the
the soLutions
solutions and
and technoLogy
technology
we deveLop,
develop, we
we ask
ask ourseLves
ourselves a simpLe
simple
question:
   Is this
this best for our customers?"
customers?   
question: "Is
We put
put ourseLves
ourselves in
in their
their shoes, get to
to
know their
their business, and
and constantly
constantly rook
look for
for
opportunities
to optimize.
optimize. The
The soLutions
solutions and
and
opportunities to
strategies we
we recommend
recommend align
align with
with their
their
goals
    whether
whether that's
that   s creating efficiencies,
efficiencies,
goaLs    
ensuring capacity,
capacity, panning
planning for seasonaL
seasonal
surges,
reducing costs,
costs, improving on-time
on-time
surges, reducing
metrics
or reducing damage.
damage. And
And when
when the
the
metrics or
unexpected
happens, we're
we   re here
here to
to heLp
help
unexpected happens,
them
quickly pivot to
to overcome
overcome disruptions
disruptions
them quickly
and keep
keep their
their supply chain
chain moving.
moving.
Our tong
long history
history of
of innovation
innovation enriches
enriches
these
deep customer
customer reLationships.
relationships. As
As
these deep
and challenge
challenge how
how things
things have
have aLways
always been
been
done.
And we're
we   re constantly
constantly deveLoping
developing
done. And
intelligent soLutions
solutions that
that create
create operationaL
operational
efficiencies
and move
move the
the gLobaL
global supply
efficiencies and
chain
forward.
chain forward.

U M W % 100 M
1923 A r c B e s t 2023
ArcBest



shareholder letter icon 3/15/2024 Letter Continued (Full PDF)
 

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