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ABF | 4th QTR 97 cents, 5 cents ahead of consensus and 41 cents ahead of the 2019 period.

A strong housing market was noted as a contributor to improved demand and heavier weights per shipment. Dockworker optimization and improved fleet metrics aided in the OR improvement.
 
asset-light segment reported a 27% year-over-year increase in revenue with a 130-bp improvement in OR. A tight market for “logistics equipment and carrier resources” were the reasons for the improvement.
 
  • Fourth quarter 2020 revenue of $816.4 million, and net income of $23.9 million, or $0.89 per diluted share. On a non-GAAP1 basis, fourth quarter 2020 net income of $26.0 million, or $0.97 per diluted share.
  • ArcBest non-GAAP operating income is the second-best since 2006.
  • Profit-sharing bonus to union-represented ABF Freight employees for the second year in a row.
  • As recently announced, share repurchase amount restored to $50 million.
 
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