ArcBest Corp (NASDAQ:ARCB) reported fourth-quarter 2025 results as the logistics company worked through a challenging freight environment.

Revenue totaled $972.7 million, down from $1.0 billion a year earlier. Adjusted earnings of 36 cents per share missed the 41 cents analyst estimate, while revenue exceeded expectations of $966.361 million. Results included a $9.1 million after-tax, noncash impairment charge.

Asset-Based revenue was $648.8 million, compared with $656.2 million, with tonnage per day rising 2.6% and shipments per day up 2.4%.

Billed revenue per hundredweight declined 2.7% and billed revenue per shipment fell 2.5%. Operating income totaled $24.4 million, and the operating ratio was 96.2%, compared with $52.3 million and 92.0% a year earlier.

ArcBest said shipment growth was driven by newly onboarded core LTL customers, while pricing gains were offset by changes in freight mix. “Overall, LTL industry pricing remains rational.”

Asset-Light revenue was $353.5 million, down from $375.4 million, with shipments per day increasing 0.8% and revenue per shipment declining 5.8%.

The segment reported an operating loss of $9.9 million, compared with $1.6 million a year earlier, while non-GAAP results were breakeven.

Adjusted EBITDA was $1.4 million compared with a negative $4.2 million, as lower revenue per shipment in a soft-rate environment and a higher mix of managed transportation weighed on results.

Full-Year Results

For full-year 2025, revenue totaled $4.0 billion, compared with $4.2 billion in 2024.

Net income from continuing operations was $60.1 million, or $2.62 per diluted share, versus $173.4 million, or $7.28 per diluted share, in the prior year, which included a $67.9 million after-tax benefit tied to the MoLo acquisition.

On a non-GAAP basis, net income was $84.8 million, or $3.70 per diluted share, compared with $149.7 million, or $6.28 per diluted share.

“2025 was a year of strong execution and meaningful progress for ArcBest,” said President and CEO Seth Runser. “Amid a challenging freight environment, our team delivered growth in LTL shipments and tonnage, restored profitability in Asset-Light, and achieved record Asset-Light productivity as customers increasingly embraced our integrated, technology-driven solutions,” he added.

Net cash provided by operating activities was $228.953 million in 2025, and cash and cash equivalents ended the year at $102.030 million.

Total net capital expenditures, including equipment financed, were $198 million. ArcBest returned more than $86 million to shareholders through share repurchases and dividends and had $100.8 million of repurchase authorization remaining as of Jan. 28, 2026.

ARCB Price Action: ArcBest shares were down 0.84% at $84.59 at the time of publication on Friday, according to Benzinga Pro data.

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