Form 8-K

8-K — ARCBEST CORP /DE/

Accession: 0001104659-26-087722

Filed: 2026-07-29

Period: 2026-07-29

CIK: 0000894405

SIC: 4213 (TRUCKING (NO LOCAL))

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — arcb-20260729x8k.htm (Primary)

EX-99.1 (arcb-20260729xex99d1.htm)

EX-99.2 (arcb-20260729xex99d2.htm)

EX-99.3 (arcb-20260729xex99d3.htm)

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8-K

8-K (Primary)

Filename: arcb-20260729x8k.htm · Sequence: 1

ARCBEST CORPORATION_July 29, 2026

0000894405false00008944052026-07-292026-07-29

June 30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 29, 2026 (July 29, 2026)

ARCBEST CORPORATION

(Exact name of registrant as specified in its charter)

Texas

0-19969

71-0673405

(State or other jurisdiction of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

8401 McClure Drive

Fort Smith, Arkansas

(Address of principal executive offices)

72916

(Zip Code)

Registrant’s telephone number, including area code: (479) 785-6000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.

☐

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock $0.01 Par Value

ARCB

Nasdaq

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

ITEM 2.02 – RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On July 29, 2026, ArcBest® (Nasdaq: ARCB) (the “Company”) issued a press release announcing its unaudited second quarter 2026 results. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. Additional supplemental information and presentation slides to be used in connection with the scheduled conference call to discuss the second quarter results are furnished as Exhibit 99.2 and Exhibit 99.3 to this Current Report on Form 8-K and incorporated herein by reference.

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). However, management believes that certain non-GAAP financial measures and ratios utilized internally to assess core performance offer analysts, investors, and others insights into performance trends by excluding items from operating results that management believes do not reflect ArcBest’s core operating performance.

The press release in Exhibit 99.1, the supplemental information in Exhibit 99.2, and the presentation slides in Exhibit 99.3 include certain non-GAAP information. Certain information discussed in the scheduled conference call could also be considered non-GAAP measures. Reconciliations of non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are included in Exhibit 99.1 herein, including reconciliations of GAAP earnings and earnings per share to non-GAAP financial measures, reconciliations of GAAP to non-GAAP effective tax rates, and calculations of adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). Reconciliations of non-GAAP measures included in the presentation slides to the most directly comparable GAAP financial measures are also included within Exhibit 99.3 herein.

Management believes EBITDA and Adjusted EBITDA to be relevant and useful information as EBITDA is a standard measure commonly reported and widely used by analysts, investors and others to measure financial performance and ability to service debt obligations. Additionally, Adjusted EBITDA is used for business planning and as a key performance measure, particularly because it excludes certain significant expenses resulting from strategic decisions or other factors rather than core daily operations. ArcBest’s calculation of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures of other companies as other companies may calculate EBITDA and Adjusted EBITDA differently. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for or a better measurement than operating income (loss) or net income (loss), as determined under GAAP, which are the most directly comparable GAAP measures for the periods presented.

ITEM 9.01 – FINANCIAL STATEMENTS AND EXHIBITS

Exhibit No.

Description of Exhibit

99.1

Press release of ArcBest dated July 29, 2026

99.2

Supplemental information dated July 29, 2026

99.3

Earnings conference call presentation dated July 29, 2026

104

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ARCBEST CORPORATION

(Registrant)

Date:

July 29, 2026

/s/ J. Brent Hagy

J. Brent Hagy

Chief Legal Officer

and Corporate Secretary

EX-99.1

Filename: arcb-20260729xex99d1.htm · Sequence: 2

Exhibit 99.1

Investor Relations Contact: Amy Mendenhall

Media Contact: Autumnn Mahar

Phone: 479-785-6200

Phone: 479-494-8221

Email: invrel@arcb.com

Email: amahar@arcb.com

ArcBest Announces Second Quarter 2026 Results

● Grew Asset-Based revenue and improved Asset-Based profitability, with sequential margin expansion ahead of typical seasonality

● Grew Asset-Light revenue and volumes while maintaining cost discipline and improving productivity

● Advanced strategic priorities with the successful launch of ArcBest View™ and continued execution on operating efficiency initiatives

FORT SMITH, Arkansas, July 29, 2026 — ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, announced financial results for the second quarter ended June 30, 2026.

Second quarter 2026 revenue totaled $1.2 billion, compared to $1.0 billion in the prior-year period. Net loss was $13.8 million, or $0.62 per diluted share, versus net income of $25.8 million, or $1.12 per diluted share, in the second quarter of 2025.

On a non-GAAP basis, net income was $53.6 million, or $2.38 per diluted share, compared to $31.2 million, or $1.36 per diluted share, in the prior year. Non-GAAP results exclude the impairment and restructuring charges associated with the restructuring plan announced on July 16, 2026, as well as other items described in the attached non-GAAP reconciliation tables.

“Our second-quarter performance reflects disciplined execution, a more constructive operating environment and the value customers are gaining from our integrated logistics solutions,” said Seth Runser, ArcBest President and CEO. “We grew revenue and improved operating performance while continuing to invest in capabilities that make complex supply chains easier to manage. The launch of ArcBest View™ marks an important step in that journey, and our continued progress on pricing, cost management, efficiency and productivity initiatives positions us to deliver sustainable, profitable growth.”

Results of Operations Comparisons

Asset-Based

Second Quarter 2026 Versus Second Quarter 2025

● Revenue of $783.7 million compared to $713.3 million, a per-day increase of 9.9 percent

● Tonnage per day increase of 4.9 percent

● Shipments per day decrease of 2.8 percent

● Billed revenue per shipment increase of 12.5 percent

● Billed revenue per hundredweight increase of 4.2 percent

● Weight per shipment increase of 8.0 percent

● Operating income of $74.3 million and an operating ratio of 90.5 percent, compared to $51.0 million and 92.8 percent

● On a non-GAAP basis, operating income of $72.3 million and an operating ratio of 90.8 percent, compared to $51.0 million and 92.8 percent

Tonnage growth was driven by higher weight per shipment, reflecting a continued shift in freight profile, partially offset by fewer shipments per day. Revenue per shipment benefited from the heavier freight profile and a higher revenue per hundredweight, largely reflecting higher fuel surcharge revenue. Excluding fuel surcharge, revenue per hundredweight was flat.

Customer contract renewals and deferred pricing agreements averaged a 5.8 percent increase during the second quarter, and LTL industry pricing remains rational.

Operating expenses increased due to annual union wage adjustments, increased fuel prices and purchased transportation costs, and higher equipment depreciation.

On a sequential basis, second quarter daily revenue was up 17.8 percent compared to the first quarter. Tonnage per day increased 9.8 percent, driven by a 6.5 percent increase in weight per shipment and a 3.1 percent increase in daily shipments. Billed revenue per shipment increased 13.5 percent due to the heavier freight profile and a 6.5 percent increase in revenue per hundredweight, driven by higher fuel surcharge revenue and improved pricing. Excluding fuel surcharge, revenue per hundredweight improved by low single digits. The non-GAAP operating ratio decreased by 650 basis points, outperforming typical seasonality, due to higher fuel surcharge revenue, disciplined execution on pricing initiatives, and continued progress on cost optimization, network efficiency, and technology-driven productivity initiatives.

Asset-Light

Second Quarter 2026 Versus Second Quarter 2025

● Revenue of $438.7 million compared to $341.9 million, a per-day increase of 28.3 percent

● Shipments per day increase of 14.6 percent

● Revenue per shipment increase of 12.0 percent

● Purchased transportation expense was 86.5 percent of revenue compared to 84.4 percent

● Operating loss of $31.3 million compared to operating income of $0.6 million

● On a non-GAAP basis, operating income of $6.3 million compared to $1.1 million

● Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”), as defined in the attached non-GAAP reconciliation tables, of $7.0 million compared to $2.5 million

Revenue increased primarily due to higher shipment volumes, led by Managed. Revenue per shipment also increased, reflecting higher fuel prices and a tightening capacity environment. Revenue growth, combined with disciplined cost management and productivity improvements, drove improved non-GAAP operating income compared to the prior year.

Compared sequentially to the first quarter, second quarter daily revenue increased 14.3 percent, reflecting a 14.4 percent increase in revenue per shipment and flat shipments per day. Revenue growth, cost management and productivity improvements resulted in improved non-GAAP operating income compared to the previous quarter.

Conference Call

ArcBest will host a conference call with company executives to discuss its quarterly results today, Wednesday, July 29, 2026, at 9:30 a.m. ET (8:30 a.m. CT). Interested parties may listen by dialing (800) 715-9871 and entering conference ID 6423434, or by accessing the webcast on ArcBest’s website at arcb.com. Presentation slides to accompany the call are included in Exhibit 99.3 of the Form 8-K filed on July 29, 2026, will be available for download on the company’s website prior to the start of the call, and will be included in the webcast. A replay of the call will be available through August 12, 2026, by dialing (800) 770-2030 and entering conference ID 6423434. The webcast replay will also be accessible on ArcBest’s website.

About ArcBest

ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with 14,000 employees across 250 campuses and service centers, the company is a logistics powerhouse, using its technology, expertise and scale to connect shippers with the solutions they need — from ground, air and ocean transportation to fully managed supply chains. ArcBest has a long history of innovation that is enriched by deep customer relationships. With a commitment to helping customers navigate supply chain challenges now and in the future, the company continues to invest in purpose-built technology such as ArcBest View™, its digital logistics platform that brings quoting, booking, shipment visibility and reporting into one connected experience. For more information, visit arcb.com.

The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: Certain statements and information in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding (i) our expectations about our intrinsic value or our prospects for growth and value creation and (ii) our financial outlook, position, strategies, goals, and expectations. Terms such as “anticipate,” “believe,” “could,” “designed,” “estimate,” “expect,” “forecast,” “foresee,” “intend,” “likely,” “may,” “plan,” “predict,” “project,” “scheduled,” “seek,” “should,” “would,” and similar expressions and the negatives of such terms are intended to identify forward-looking statements. These statements are based on management’s beliefs, assumptions, and expectations based on currently available information, are not guarantees of future performance, and involve certain risks and uncertainties (some of which are beyond our control). Although we believe that the expectations reflected in these forward-looking statements are reasonable as and when made, we cannot provide assurance that our expectations will prove to be correct and caution the reader not to place undue reliance on our forward-looking statements. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in these statements due to a number of factors, including, but not limited to: data breaches, cybersecurity incidents, and/or interruptions or failures of our information systems that we depend on, including software programs and applications provided by third parties; untimely or ineffective development and implementation of, or failure to realize the potential benefits associated with, new or enhanced technology or processes; the loss or reduction of business from multiple large customers or an overall reduction in our customer base; the timing and performance of growth initiatives and the ability to manage our cost structure; the cost, integration, and performance of future acquisitions and the inability to realize the anticipated benefits of the acquisition; unsolicited takeover proposals, proxy contests, and other proposals or actions by activist investors; maintaining our corporate reputation and intellectual property rights; failure to achieve market acceptance or generate adequate returns through our Vaux® technologies; establishing and maintaining adequate internal controls over financial reporting; disruptions in domestic or global manufacturing activity, supply chains, and related changes in spending, resulting in material reductions in freight volumes; competitive initiatives and pricing pressures; increased prices for and decreased availability of equipment, including new revenue equipment, and higher costs of equipment-related operating expenses such as maintenance, fuel, and related taxes; availability of fuel, the effect of volatility in fuel prices and the associated changes in fuel surcharges on securing increases in base freight rates, and the inability to collect fuel surcharges; relationships with employees, including unions, and our ability to attract, retain, and upskill employees; unfavorable terms of, or the inability to reach agreement on, future collective bargaining agreements or a workforce stoppage by our employees covered under ABF Freight’s collective bargaining agreement; union employee wages and benefits, including changes in required contributions to multiemployer plans; availability and cost of reliable third-party services; our ability to secure independent owner-operators and/or operational or regulatory issues related to our use of their services; litigation or claims asserted against us; the effects, costs and potential liabilities related to changes in and compliance with, or violation of, existing or future governmental laws and regulations, including, but not limited to, environmental laws and regulations, such as emissions-control regulations and fuel efficiency regulations; default on covenants of financing arrangements and the availability and terms of future financing arrangements; our ability to generate sufficient cash from operations to support significant ongoing capital expenditure requirements and other business initiatives; self-insurance claims, insurance premium costs, and loss of our ability to self-insure; potential impairment of long-lived assets and goodwill and intangible assets; external events which may adversely affect us or the third parties who provide services for us, for which our business continuity plans may not adequately prepare us, including, but not limited to, the occurrence of natural disasters, public health crises, geopolitical conflicts, acts of terrorism or war, cybersecurity incidents, or trade restrictions; general economic conditions and related shifts in market demand that impact the performance and needs of industries we serve and/or limit our customers’ access to adequate financial resources; seasonal fluctuations, adverse weather conditions, natural disasters, and climate change; and other financial, operational, and legal risks and uncertainties detailed from time to time in ArcBest Corporation’s public filings with the Securities and Exchange Commission (“SEC”).

For additional information regarding known material factors that could cause our actual results to differ from those expressed in these forward-looking statements, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events, or otherwise.

Financial Data and Operating Statistics

The following tables show financial data and operating statistics on ArcBest® and its reportable segments.

ARCBEST CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended

Six Months Ended

June 30

2026

2025

2026

2025

(Unaudited)

($ thousands, except share and per share data)

REVENUES

1,184,533

1,022,256

2,183,319

1,989,333

OPERATING EXPENSES

1,205,156

984,947

2,200,512

1,945,394

OPERATING INCOME (LOSS)

(20,623)

37,309

(17,193)

43,939

OTHER INCOME (COSTS)

Interest and dividend income

906

1,037

1,582

2,187

Interest and other related financing costs

(3,391)

(2,956)

(7,679)

(5,711)

Other, net

2,152

578

1,000

(273)

(333)

(1,341)

(5,097)

(3,797)

INCOME (LOSS) BEFORE INCOME TAXES

(20,956)

35,968

(22,290)

40,142

INCOME TAX PROVISION (BENEFIT)

(7,132)

10,159

(7,429)

11,202

NET INCOME (LOSS)

(13,824)

25,809

(14,861)

28,940

EARNINGS PER COMMON SHARE

Basic

(0.62)

1.12

(0.67)

1.25

Diluted

(0.62)

1.12

(0.67)

1.25

AVERAGE COMMON SHARES OUTSTANDING

Basic

22,348,772

22,944,228

22,344,449

23,070,812

Diluted

22,348,772

23,008,707

22,344,449

23,146,609

ARCBEST CORPORATION

CONSOLIDATED BALANCE SHEETS

June 30

December 31

2026

2025

(Unaudited)

Note

($ thousands, except share data)

ASSETS

CURRENT ASSETS

Cash and cash equivalents

145,851

102,030

Short-term investments

22,580

22,204

Accounts receivable, less allowances (2026 - $8,884; 2025 - $7,763)

453,782

370,969

Other accounts receivable, less allowances (2026 - $713; 2025 - $656)

9,206

26,295

Prepaid expenses

38,748

49,399

Prepaid and refundable income taxes

27,483

45,405

Other

8,836

9,761

TOTAL CURRENT ASSETS

706,486

626,063

PROPERTY, PLANT AND EQUIPMENT

Land and structures

574,861

566,071

Revenue equipment

1,212,564

1,201,386

Service, office, and other equipment

312,336

363,340

Software

191,444

190,673

Leasehold improvements

43,349

41,531

2,334,554

2,363,001

Less allowances for depreciation and amortization

1,242,195

1,219,564

PROPERTY, PLANT AND EQUIPMENT, net

1,092,359

1,143,437

GOODWILL

304,753

INTANGIBLE ASSETS, net

37,716

69,391

OPERATING RIGHT-OF-USE ASSETS

215,292

220,157

DEFERRED INCOME TAXES

16,770

9,303

OTHER LONG-TERM ASSETS

78,909

79,558

TOTAL ASSETS

2,452,285

2,452,662

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES

Accounts payable

198,228

154,487

Income taxes payable

8,811

—

Accrued expenses

391,794

378,125

Current portion of long-term debt

94,484

87,882

Current portion of operating lease liabilities

36,263

36,394

TOTAL CURRENT LIABILITIES

729,580

656,888

LONG-TERM DEBT, less current portion

121,065

135,974

OPERATING LEASE LIABILITIES, less current portion

207,947

204,333

POSTRETIREMENT LIABILITIES, less current portion

13,700

13,696

DEFERRED INCOME TAXES

80,898

111,580

OTHER LONG-TERM LIABILITIES

31,502

34,470

STOCKHOLDERS’ EQUITY

Common stock, $0.01 par value, authorized 70,000,000 shares;

issued 2026: 30,579,951 shares; 2025: 30,489,886 shares

306

305

Additional paid-in capital

338,861

338,083

Retained earnings

1,464,152

1,484,378

Treasury stock, at cost, 2026: 8,232,856 shares; 2025: 8,140,368 shares

(534,777)

(526,606)

Accumulated other comprehensive loss

(949)

(439)

TOTAL STOCKHOLDERS’ EQUITY

1,267,593

1,295,721

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

2,452,285

2,452,662

Note: The balance sheet at December 31, 2025 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.

ARCBEST CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

Six Months Ended

June 30

2026

2025

(Unaudited)

($ thousands)

OPERATING ACTIVITIES

Net income (loss)

(14,861)

28,940

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization

83,929

74,490

Amortization of intangibles

5,056

6,400

Share-based compensation expense

4,720

6,162

Provision for losses on accounts receivable

2,257

1,402

Change in deferred income taxes

(37,989)

(187)

(Gain) loss on sale of property and equipment

(1,784)

Asset impairment charges

85,266

—

Change in fair value of contingent consideration

—

(2,650)

Changes in operating assets and liabilities:

Receivables

(68,517)

3,866

Prepaid expenses

10,651

9,744

Other assets

(2,315)

(1,396)

Income taxes

26,652

9,130

Operating right-of-use assets and lease liabilities, net

(15)

(11,421)

Accounts payable, accrued expenses, and other liabilities

45,229

(39,486)

NET CASH PROVIDED BY OPERATING ACTIVITIES

138,279

85,036

INVESTING ACTIVITIES

Purchases of property, plant and equipment, net of financings

(22,388)

(42,007)

Proceeds from sale of property and equipment

6,095

6,142

Proceeds from sale of short-term investments

—

5,236

Capitalization of internally developed software

(7,275)

(6,268)

Other investing activities

—

1,075

NET CASH USED IN INVESTING ACTIVITIES

(23,568)

(35,822)

FINANCING ACTIVITIES

Borrowings under credit facilities

—

25,000

Payments on long-term debt

(52,679)

(35,526)

Net change in book overdrafts

(717)

(2,021)

Deferred financing costs

(17)

(19)

Payment of common stock dividends

(5,365)

(5,543)

Purchases of treasury stock

(8,171)

(41,737)

Payments for tax withheld on share-based compensation

(3,941)

(1,938)

NET CASH USED IN FINANCING ACTIVITIES

(70,890)

(61,784)

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

43,821

(12,570)

Cash and cash equivalents at beginning of period

102,030

127,444

CASH AND CASH EQUIVALENTS AT END OF PERIOD

145,851

114,874

NONCASH INVESTING ACTIVITIES

Equipment financed

44,372

62,791

Accruals for equipment received

10,186

14,586

Lease liabilities arising from obtaining right-of-use assets

22,228

41,978

ARCBEST CORPORATION

FINANCIAL STATEMENT OPERATING SEGMENT DATA AND OPERATING RATIOS

Three Months Ended

Six Months Ended

June 30

2026

2025

2026

2025

(Unaudited)

($ thousands, except percentages)

REVENUES

Asset-Based

783,671

713,312

1,438,678

1,359,606

Asset-Light

438,705

341,922

816,451

697,934

Other and eliminations

(37,843)

(32,978)

(71,810)

(68,207)

Total consolidated revenues

1,184,533

1,022,256

2,183,319

1,989,333

OPERATING EXPENSES

Asset-Based

Salaries, wages, and benefits

374,101

47.7

365,929

51.3

729,240

50.7

710,070

52.2

Fuel, supplies, and expenses

97,832

12.4

79,834

11.2

179,417

12.4

157,476

11.6

Operating taxes and licenses

14,136

1.8

13,845

1.9

28,604

2.0

26,957

2.0

Insurance

16,505

2.1

17,653

2.5

32,574

2.3

35,616

2.6

Communications and utilities

5,270

0.7

5,150

0.7

11,029

0.8

10,960

0.8

Depreciation and amortization

36,632

4.7

31,664

4.4

72,843

5.0

62,254

4.6

Rents and purchased transportation

90,112

11.5

76,198

10.7

158,772

11.0

143,359

10.6

Shared services

74,352

9.5

69,868

9.8

133,516

9.3

132,311

9.7

Restructuring charges(1)

953

0.1

—

953

0.1

—

Gain on sale of property and equipment(2)

(2,496)

(0.3)

(159)

—

(2,352)

(0.2)

(136)

—

Other

2,022

0.3

2,301

0.3

2,353

0.2

3,293

0.2

Total Asset-Based

709,419

90.5

662,283

92.8

1,346,949

93.6

1,282,160

94.3

Asset-Light

Purchased transportation

379,313

86.5

288,580

84.4

704,984

86.3

593,194

85.0

Salaries, wages, and benefits

29,095

6.6

25,629

7.5

51,840

6.4

51,178

7.3

Supplies and expenses

1,670

0.4

1,739

0.5

3,119

0.4

3,478

0.5

Depreciation and amortization(3)

3,881

0.9

4,605

1.4

7,891

1.0

9,223

1.3

Shared services

13,925

3.1

18,594

5.4

32,694

4.0

36,575

5.3

Asset impairment charges(4)

34,503

7.9

—

34,503

4.2

—

Restructuring charges(1)

712

0.2

—

712

0.1

—

Contingent consideration(5)

—

(2,650)

(0.8)

—

(2,650)

(0.4)

Other

6,954

1.5

4,834

1.4

11,825

1.4

10,725

1.5

Total Asset-Light

470,053

107.1

341,331

99.8

847,568

103.8

701,723

100.5

Other and eliminations(6)

25,684

(18,667)

5,995

(38,489)

Total consolidated operating expenses

1,205,156

101.7

984,947

96.4

2,200,512

100.8

1,945,394

97.8

OPERATING INCOME (LOSS)

Asset-Based

74,252

51,029

91,729

77,446

Asset-Light

(31,348)

591

(31,117)

(3,789)

Other and eliminations(6)

(63,527)

(14,311)

(77,805)

(29,718)

Total consolidated operating income (loss)

(20,623)

37,309

(17,193)

43,939

1) Restructuring charges relate to realignment of the Company’s organizational structure as previously announced.

2) The 2026 periods include a net gain of $2.9 million on the sale of a service center during second quarter 2026.

3) Includes amortization of intangibles associated with acquired businesses.

4) Represents noncash asset impairment charges of $25.7 million to write off the Panther trade name in connection with a strategic brand consolidation decision within Asset-Light’s operations and an $8.8 million lease-related impairment charge associated with office space.

5) Represents the change in fair value of the contingent earnout consideration recorded for the MoLo acquisition. The Company reduced the contingent consideration for the MoLo acquisition to zero in second quarter 2025, reflecting the probability of no earnout payment based on projections of adjusted earnings before interest, taxes, depreciation, and amortization for 2025.

6) Includes $0.5 million in restructuring charges and $50.8 million in asset impairment charges related to the write-off of certain freight movement system assets associated with Vaux for the 2026 periods. “Other” also includes corporate costs for certain unallocated shared service costs which are not attributable to any segment, additional investments to offer comprehensive transportation and logistics services across multiple operating segments, costs related to our customer pilot offering of Vaux, and other investments in ArcBest technology and innovations.

ARCBEST CORPORATION

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

Non-GAAP Financial Measures

We report our financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). However, management believes that certain non-GAAP financial measures and ratios utilized internally to assess core performance offer analysts, investors, and others insights into performance trends by excluding items from operating results that management believes do not reflect our core operating performance. Our calculations may not be comparable to similarly titled measures of other companies as other companies may calculate non-GAAP measures differently. Certain information discussed in the scheduled conference call could be considered non-GAAP measures. Non-GAAP financial measures should be viewed in addition to, and not as an alternative or a better measurement than operating income (loss), net income (loss) or earnings per share, as determined under GAAP, which are the most directly comparable measures for the periods presented.

Three Months Ended

Six Months Ended

June 30

2026

2025

2026

2025

ArcBest Corporation — Consolidated

(Unaudited)

($ thousands, except per share data)

Operating Income (Loss)

Amounts on GAAP basis

(20,623)

37,309

(17,193)

43,939

Innovative technology costs, pre-tax(1)

7,528

7,123

14,977

14,636

Purchase accounting amortization, pre-tax(2)

2,457

3,192

5,043

6,384

Asset impairment charges, pre-tax(3)

85,266

—

85,266

—

Restructuring charges, pre-tax(4)

2,173

—

2,173

—

Gain on sale of property, pre-tax(5)

(2,910)

—

(2,910)

—

Change in fair value of contingent consideration, pre-tax(6)

—

(2,650)

—

(2,650)

Non-GAAP amounts

73,891

44,974

87,356

62,309

Net Income (Loss)

Amounts on GAAP basis

(13,824)

25,809

(14,861)

28,940

Innovative technology costs, after-tax (includes related financing costs)(1)

5,709

5,428

11,358

11,152

Purchase accounting amortization, after-tax(2)

1,853

2,398

3,804

4,796

Asset impairment charges, after-tax(3)

64,209

—

64,209

—

Restructuring charges, after-tax(4)

1,634

—

1,634

—

Gain on sale of property, after-tax(5)

(2,184)

—

(2,184)

—

Change in fair value of contingent consideration, after-tax(6)

—

(1,991)

—

(1,991)

Changes in cash surrender value and gains on life insurance policies

(2,500)

(1,428)

(1,823)

(741)

Tax expense (benefit) from vested RSUs

(1,320)

995

(1,409)

992

Non-GAAP amounts

53,577

31,211

60,728

43,148

Diluted Earnings Per Share(7)

Amounts on GAAP basis

(0.62)

1.12

(0.67)

1.25

Innovative technology costs, after-tax (includes related financing costs)(1)

0.25

0.24

0.51

0.48

Purchase accounting amortization, after-tax(2)

0.08

0.10

0.17

0.21

Asset impairment charges, after-tax(3)

2.86

—

2.86

—

Restructuring charges, after-tax(4)

0.07

—

0.07

—

Gain on sale of property, after-tax(5)

(0.10)

—

(0.10)

—

Change in fair value of contingent consideration, after-tax(6)

—

(0.09)

—

(0.09)

Changes in cash surrender value and gains on life insurance policies

(0.11)

(0.06)

(0.08)

(0.03)

Tax expense (benefit) from vested RSUs

(0.06)

0.04

(0.06)

0.04

Non-GAAP amounts(8)

2.38

1.36

2.70

1.86

See “Notes to Non-GAAP Financial Tables” for footnotes to this ArcBest Corporation – Consolidated non-GAAP table.

ARCBEST CORPORATION

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES - Continued

Three Months Ended

Six Months Ended

June 30

2026

2025

2026

2025

Segment Operating Income (Loss) Reconciliations

(Unaudited)

($ thousands, except percentages)

Asset-Based Segment

Operating Income ($) and Operating Ratio (% of revenues)

Amounts on GAAP basis

74,252

90.5

51,029

92.8

91,729

93.6

77,446

94.3

Restructuring charges, pre-tax(4)

953

(0.1)

—

953

(0.1)

—

Gain on sale of property, pre-tax(5)

(2,910)

0.4

—

(2,910)

0.2

—

Non-GAAP amounts(8)

72,295

90.8

51,029

92.8

89,772

93.8

77,446

94.3

Asset-Light Segment

Operating Income (Loss) ($) and Operating Ratio (% of revenues)

Amounts on GAAP basis

(31,348)

107.1

591

99.8

(31,117)

103.8

(3,789)

100.5

Purchase accounting amortization, pre-tax(2)

2,457

(0.6)

3,192

(0.9)

5,043

(0.6)

6,384

(0.9)

Asset impairment charges, pre-tax(3)

34,503

(7.9)

—

34,503

(4.2)

—

Restructuring charges, pre-tax(4)

712

(0.2)

—

712

(0.1)

—

Change in fair value of contingent consideration, pre-tax(6)

—

(2,650)

0.8

—

(2,650)

0.4

Non-GAAP amounts(8)

6,324

98.6

1,133

99.7

9,141

98.9

(55)

100.0

Other and Eliminations

Operating Loss ($)

Amounts on GAAP basis

(63,527)

(14,311)

(77,805)

(29,718)

Innovative technology costs, pre-tax(1)

7,528

7,123

14,977

14,636

Asset impairment charges, pre-tax(3)

50,763

—

50,763

—

Restructuring charges, pre-tax(4)

508

—

508

—

Non-GAAP amounts

(4,728)

(7,188)

(11,557)

(15,082)

Note: See “Notes to Non-GAAP Financial Tables” for footnotes to this Segment Operating Income (Loss) Reconciliations non-GAAP table.

ARCBEST CORPORATION

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES – Continued

Effective Tax Rate Reconciliation

ArcBest Corporation - Consolidated

(Unaudited)

($ thousands, except percentages)

Three Months Ended June 30, 2026

Operating

Other

Income (Loss)

Income

Net

Income

Before Income

Tax Provision

Income

(Loss)

(Costs)

Taxes

(Benefit)

(Loss)

Tax Rate(9)

Amounts on GAAP basis

(20,623)

(333)

(20,956)

(7,132)

(13,824)

(34.0)

Innovative technology costs(1)

7,528

7,591

1,882

5,709

24.8

Purchase accounting amortization(2)

2,457

—

2,457

604

1,853

24.6

Asset impairment charges(3)

85,266

—

85,266

21,057

64,209

24.7

Restructuring charges(4)

2,173

—

2,173

539

1,634

24.8

Gain on sale of property(5)

(2,910)

—

(2,910)

(726)

(2,184)

(24.9)

Changes in cash surrender value and gains on life insurance policies

—

(2,500)

—

(2,500)

—

Tax benefit from vested RSUs

—

1,320

(1,320)

—

Non-GAAP amounts

73,891

(2,770)

71,121

17,544

53,577

24.7

Six Months Ended June 30, 2026

Operating

Other

Income (Loss)

Income

Net

Income

Before Income

Tax Provision

Income

(Loss)

(Costs)

Taxes

(Benefit)

(Loss)

Tax Rate(9)

Amounts on GAAP basis

(17,193)

(5,097)

(22,290)

(7,429)

(14,861)

(33.3)

Innovative technology costs(1)

14,977

125

15,102

3,744

11,358

24.8

Purchase accounting amortization(2)

5,043

—

5,043

1,239

3,804

24.6

Asset impairment charges(3)

85,266

—

85,266

21,057

64,209

24.7

Restructuring charges(4)

2,173

—

2,173

539

1,634

24.8

Gain on sale of property(5)

(2,910)

—

(2,910)

(726)

(2,184)

(24.9)

Changes in cash surrender value and gains on life insurance policies

—

(1,823)

—

(1,823)

—

Tax benefit from vested RSUs

—

1,409

(1,409)

—

Non-GAAP amounts

87,356

(6,795)

80,561

19,833

60,728

24.6

Three Months Ended June 30, 2025

Other

Income

Operating

Income

Before Income

Tax

Net

Income

(Costs)

Taxes

Provision

Income

Tax Rate(9)

Amounts on GAAP basis

37,309

(1,341)

35,968

10,159

25,809

28.2

Innovative technology costs(1)

7,123

7,217

1,789

5,428

24.8

Purchase accounting amortization(2)

3,192

—

3,192

794

2,398

24.9

Change in fair value of contingent consideration(6)

(2,650)

—

(2,650)

(659)

(1,991)

(24.9)

Changes in cash surrender value and gains on life insurance policies

—

(1,428)

—

(1,428)

—

Tax expense from vested RSUs

—

(995)

995

—

Non-GAAP amounts

44,974

(2,675)

42,299

11,088

31,211

26.2

Six Months Ended June 30, 2025

Other

Income

Operating

Income

Before Income

Tax

Net

Income

(Costs)

Taxes

Provision

Income

Tax Rate(9)

Amounts on GAAP basis

43,939

(3,797)

40,142

11,202

28,940

27.9

Innovative technology costs(1)

14,636

193

14,829

3,677

11,152

24.8

Purchase accounting amortization(2)

6,384

—

6,384

1,588

4,796

24.9

Change in fair value of contingent consideration(6)

(2,650)

—

(2,650)

(659)

(1,991)

(24.9)

Changes in cash surrender value and gains on life insurance policies

—

(741)

—

(741)

—

Tax expense from vested RSUs

—

(992)

992

—

Non-GAAP amounts

62,309

(4,345)

57,964

14,816

43,148

25.6

Note: See “Notes to Non-GAAP Financial Tables” for footnotes to this Effective Tax Rate Reconciliation non-GAAP table.

ARCBEST CORPORATION

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES – Continued

Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (Adjusted EBITDA)

Adjusted EBITDA is used for business planning and as a key performance measure, particularly because it excludes certain significant expenses resulting from strategic decisions or other factors rather than core daily operations, such as amortization of acquired intangibles and software of the Asset-Light segment, asset impairment charges, and changes in the fair value of contingent consideration. The calculation of Consolidated Adjusted EBITDA as presented below begins with net income (loss), which is the most directly comparable GAAP measure. The calculation of Asset-Light Adjusted EBITDA as presented below begins with operating income (loss), as other income (costs), income tax provision (benefit), and net income (loss) are reported at the consolidated level and not included in the operating segment financial information evaluated by management to make operating decisions.

Three Months Ended

Six Months Ended

June 30

2026

2025

2026

2025

(Unaudited)

($ thousands)

ArcBest Corporation - Consolidated Adjusted EBITDA

Net Income (Loss)

(13,824)

25,809

(14,861)

28,940

Interest and other related financing costs

3,391

2,956

7,679

5,711

Income tax provision (benefit)

(7,132)

10,159

(7,429)

11,202

Depreciation and amortization(10)

44,681

40,926

88,985

80,890

Amortization of share-based compensation

2,602

3,779

4,720

6,162

Asset impairment charges(3)

85,266

—

85,266

—

Change in fair value of contingent consideration(6)

—

(2,650)

—

(2,650)

Consolidated Adjusted EBITDA

114,984

80,979

164,360

130,255

Note: See “Notes to Non-GAAP Financial Tables” for footnotes to this ArcBest Corporation – Consolidated Adjusted EBITDA non-GAAP table.

Three Months Ended

Six Months Ended

June 30

2026

2025

2026

2025

(Unaudited)

($ thousands)

Asset-Light Adjusted EBITDA

Operating Income (Loss)

(31,348)

591

(31,117)

(3,789)

Depreciation and amortization(10)

3,881

4,605

7,891

9,223

Asset impairment charges(3)

34,503

—

34,503

—

Change in fair value of contingent consideration(6)

—

(2,650)

—

(2,650)

Asset-Light Adjusted EBITDA

7,036

2,546

11,277

2,784

Note: See “Notes to Non-GAAP Financial Tables” for footnotes to this Asset-Light Adjusted EBITDA non-GAAP table.

ARCBEST CORPORATION

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES – Continued

Notes to Non-GAAP Financial Tables

The following footnotes apply to the non-GAAP financial tables presented in this press release.

1) Represents costs related to our customer pilot offering of Vaux and initiatives to optimize our performance through technological innovation.

2) Represents the amortization of acquired intangible assets in the Asset-Light segment.

3) Represents $50.8 million in asset impairment charges related to the write-off of certain freight movement system assets associated with Vaux. Also represents $25.7 million in noncash asset impairment charges to write off the Panther trade name as part of a strategic brand consolidation decision within Asset-Light’s operations and $8.8 million in lease-related impairment charges for certain Asset-Light office space.

4) Represents restructuring charges for the realignment of the Company’s organizational structure as previously announced.

5) Represents the gain on a service center sale within the Asset-Based operations.

6) Represents change in fair value of the contingent earnout consideration recorded for the MoLo acquisition, as previously described in the footnotes to the Financial Statement Operating Segment Data and Operating Ratios table.

7) For the three and six months ended June 30, 2026, ArcBest reported a net loss on a GAAP basis and reported net income on a non-GAAP basis. The average common shares outstanding used to calculate non-GAAP diluted earnings per share for the 2026 periods were adjusted to include unvested restricted stock awards, which were excluded from the calculation of GAAP diluted earnings per share due to the net loss.

Three Months Ended

Six Months Ended

June 30, 2026

Average Common Shares Outstanding

Diluted shares on GAAP basis

22,348,772

22,344,449

Effect of unvested restricted stock awards

134,670

143,673

Non-GAAP diluted shares

22,483,442

22,488,122

8) Non-GAAP amounts are calculated in total and may not equal the sum of GAAP amounts and non-GAAP adjustments due to rounding.

9) Tax rate for total “Amounts on GAAP basis” represents the effective tax rate. The tax effects of non-GAAP adjustments are calculated based on the statutory rate applicable to each item based on tax jurisdiction unless the nature of the item requires the tax effect to be estimated by applying a specific tax treatment.

10) Includes amortization of intangibles associated with acquired businesses.

ARCBEST CORPORATION

OPERATING STATISTICS

Three Months Ended

Six Months Ended

June 30

2026

2025

% Change

2026

2025

% Change

(Unaudited)

Asset-Based

Workdays

63.5

126.0

126.5

Tonnage / Day

12,240

11,666

4.9%

11,697

11,068

5.7%

Shipments / Day

20,456

21,051

(2.8%)

20,151

20,274

(0.6%)

Billed Revenue(1) / Shipment

605.24

537.94

12.5%

570.18

534.37

6.7%

Billed Revenue(1) / CWT

50.58

48.54

4.2%

49.11

48.94

0.3%

Weight / Shipment

1,197

1,108

8.0%

1,161

1,092

6.3%

Shipments / DSY hour

0.438

0.451

(3.0%)

0.439

0.449

(2.3%)

Average Length of Haul (Miles)

1,135

1,131

0.4%

1,130

1,128

0.2%

1) Revenue for undelivered freight is deferred for financial statement purposes in accordance with the Asset-Based segment revenue recognition policy. Billed revenue has not been adjusted for the portion of revenue deferred for financial statement purposes.

Year Over Year % Change

Three Months Ended

Six Months Ended

June 30, 2026

(Unaudited)

Asset-Light

Shipments / Day

14.6%

12.1%

Revenue / Shipment

12.0%

4.7%

Shipments / Employee / Day

35.3%

30.6%

###

EX-99.2

Filename: arcb-20260729xex99d2.htm · Sequence: 3

Exhibit 99.2

ArcBest® is providing this exhibit as supplemental information to its scheduled conference call and the press release announcing the Company’s unaudited second quarter 2026 results furnished as Exhibit 99.1 to the Company’s Current Report on Form 8-K. Certain statements and information in this exhibit may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Refer to the “Forward-Looking Statements” disclosure at the end of this exhibit.

Non-GAAP Financial Measures

ArcBest reports its financial results in accordance with generally accepted accounting principles (“GAAP”); however, this exhibit includes certain non-GAAP information. Refer to the discussion of non-GAAP information included in Item 2.02 of the Current Report on Form 8-K to which this exhibit is included for further information, including reference to reconciliations of GAAP to non-GAAP financial measures provided by the Company.

Summary Operating and Financial Impacts

● Statistics for July 2026 are preliminary but are not expected to differ materially from actual results.

● July 2026 and July 2025 each include 22.0 workdays.

● The third quarters of 2026 and 2025 each include 64.0 workdays.

Asset-Based Operating Segment

Average price increase on contract renewals negotiated during the second quarter of 2026: +5.8%

Year-over-Year Business Trends

April 2026

May 2026

June 2026

July 2026

Billed Revenue(1) / Day

+10.9

+9.2

+7.9

Tonnage / Day

+6.1

+4.6

+4.1

Shipments / Day

-0.6

-3.9

-3

Billed Revenue(1) / Shipment

+11.6

+13.7

+12.3

+10

Billed Revenue(1) / CWT

+4.6

+4.4

+3.6

-1

Weight / Shipment

+6.7

+8.8

+8.4

+11

1) Revenue associated with undelivered freight is deferred for financial reporting purposes in accordance with the Asset-Based segment’s revenue recognition policy. Billed revenue has not been adjusted to exclude amounts deferred under that policy.

In July, Asset-Based daily tonnage increased 8% year-over-year, driven by an 11% increase in weight per shipment and partially offset by a 3% decrease in shipments per day. The higher weight per shipment continues to reflect changes in freight profile.

Billed revenue per shipment increased 10% year-over-year, primarily reflecting the heavier freight profile, partially offset by a 1% decrease in billed revenue per hundredweight. Excluding fuel surcharge, revenue per hundredweight declined in the low single digits, primarily due to changes in freight profile.

Compared with June, shipments per day in July were relatively unchanged, while weight per shipment and tonnage per day each declined by 1%. Billed revenue per shipment declined approximately 4%, primarily reflecting a 3% decrease in billed revenue per hundredweight, driven by lower fuel surcharge revenue.

From 2016 through 2025, ABF’s non-GAAP operating ratio generally remained consistent from the second quarter to the third quarter. This trend excludes 2020, which was significantly affected by the COVID-19 pandemic, and 2023, which was significantly affected by the bankruptcy of a major LTL competitor. This analysis is based on non-GAAP operating ratio and excludes the items identified in the Company's historical non-GAAP reconciliations included in previously furnished earnings releases.

Based on current trends, the Company expects ABF’s non-GAAP operating ratio for the third quarter of 2026 to be generally consistent with its non-GAAP operating ratio for the second quarter of 2026. This outlook reflects the anticipated impact of lower fuel surcharge revenue, partially offset by expected cost savings from the Company’s recently announced restructuring actions. The Company does not currently expect a significant difference between GAAP and non-GAAP operating ratios for the third quarter of 2026.

Asset-Light Operating Segment

Business Trends

April 2026

May 2026

June 2026

July 2026

Revenue / Day (Year-over-Year)

+24.4

+31.6

+29.1

+28

Shipments / Day (Year-over-Year)

+15.8

+14.4

+13.7

Revenue / Shipment (Year-over-Year)

+7.4

+15.0

+13.6

+19

Purchased Transportation Expense as a % of Revenue

86.2

86.6

86.5

In July, Asset-Light daily revenue increased approximately 28% year over year, driven by a 19% increase in revenue per shipment and a 7% increase in shipments per day. Higher revenue per shipment reflects a stronger pricing environment, including the effects of higher fuel surcharge revenue and tightening truckload market capacity. Shipment growth was led by the Managed Solutions business.

Compared with June, Asset-Light daily revenue declined approximately 2%, driven by a 2% decrease in revenue per shipment, while shipments per day were relatively unchanged.

For the third quarter 2026, the Company expects Asset-Light GAAP operating income of $4 million to $6 million. Excluding approximately $2 million of purchase accounting amortization, the Company expects Asset-Light non-GAAP operating income of $6 million to $8 million. This outlook reflects continued yield discipline, ongoing productivity improvements across the business, and anticipated cost savings from the Company’s recently announced restructuring actions.

Additional Detailed Information

Projected 2026 Consolidated Capital Expenditures

● Capital Expenditures, net of sales proceeds and including financed equipment: $140 million to $160 million

o Includes net revenue equipment purchases (primarily for Asset-Based) of $75 million to

$80 million, of which approximately $75 million will be financed through promissory note arrangements

o Includes net real estate expenditures of $25 million to $35 million

o The remaining amount of capital expenditures includes items related to technology and miscellaneous dock equipment upgrades and enhancements.

● Depreciation and amortization costs on property, plant and equipment: approximately $175 million

● Intangible asset amortization, primarily reflecting purchase accounting amortization related to the MoLo acquisition: $9 million

Share Repurchase Program

Based on repurchases settled through July 24, 2026, $96.5 million remained available for future repurchases of the Company’s common stock under the current share repurchase authorization.

Tax Rate

ArcBest’s second quarter 2026 effective GAAP tax rate for continuing operations was a benefit of 34.0%. The “Effective Tax Rate Reconciliation” table of ArcBest’s second quarter 2026 earnings press release in Exhibit 99.1 provides the reconciliation of GAAP to non-GAAP effective tax rates. The effective non-GAAP tax rate for second quarter 2026 was 24.7%. Under the current tax laws, we expect our third quarter and full year 2026 non-GAAP tax rate to be in a range of 25.5% to 26.5%. The effective tax rate may be impacted by discrete items that could occur throughout the year.

Asset-Based Annual Union Profit-Sharing Bonus

As provided in ABF Freight’s current Teamster labor contract, for the full years of 2024 through 2027, ABF Freight’s Teamster employees are eligible for an annual profit-sharing bonus, as shown in the following table. The operating ratio (“OR”) used to calculate the bonus amount is on a GAAP basis. The potential bonus would be based on full-year union employee earnings. While impacted by business and associated labor levels, which are subject to change, the estimate of one percent of the annual earnings for the ABF Freight union employees who are eligible for this benefit approximates $6.5 million - $7.0 million of union bonus expense.

During years in which ArcBest’s internal forecasts indicate an expectation of paying the union bonus, we will accrue for this expense throughout the year, generally in proportion to the quarterly results as a percentage of the annual projection. As we do not provide public updates on our projected operating ratio or our expectations for paying the union bonus, any details of amounts accrued will not be provided. If financial models reflect an operating ratio that meets the payout thresholds shown below, ArcBest encourages analysts to include expenses for the union bonus in quarterly and annual earnings per share projections for the company.

ABF Freight Published Annual OR

(GAAP basis)

Bonus Amount

91.1 to 93.0

89.1 to 91.0

87.1 to 89.0

87.0 or below

“Other and eliminations” within Operating Income (Loss) on the Operating Segment Data and Operating Ratios statement

● Includes innovative technology costs related to our human-centered remote and automated operations, which are typically disclosed as a non-GAAP reconciling item.

● Includes charges related to the restructuring plan announced on July 16, 2026, which are disclosed as a non-GAAP reconciling item.

● It also includes certain overhead costs not attributable to other operating segments, including legal, investor relations, and other strategic expenses and investments.

● Projected amounts for third quarter and full year 2026 and actual amounts for third quarter and full year 2025 are included below.

Three Months Ended

Year Ended

September 30

December 31

2026

2025

2026

2025

(in millions)

Innovative technology costs, pre-tax

Restructuring charges, pre-tax

—

Other costs, pre-tax

Total other and eliminations

Other Income (Costs) on the Consolidated Statements of Operations

● Other income and costs include separate lines for interest income and interest expense.

● The “Other, net” line primarily includes changes in cash surrender value of life insurance and expenses associated with non-operating properties.

o The changes in cash surrender value of life insurance are typically disclosed as non-GAAP reconciling items. Changes in cash surrender value of life insurance are dependent upon market returns of underlying investments which cannot be reasonably estimated; therefore, ArcBest does not provide forward-looking guidance for “Other, net” on a GAAP basis.

● Projected amounts for third quarter and full year 2026 and actual amounts for third quarter and full year 2025 are included below.

Three Months Ended

Year Ended

September 30

December 31

2026

2025

2026

2025

(in millions)

Interest and dividend income

Interest and other related financing costs

(3)

(14)

(12)

Other, net, excluding non-GAAP reconciling items

(1)

(2)

(3)

Restructuring Plan Cost Savings

● On July 16, 2026, the Company announced a restructuring plan designed to realign its operating structure, reduce costs, simplify its go-to-market brand architecture, and better position the Company for long-term growth and profitability.

● The plan is expected to generate approximately $40 million of annualized run-rate cost savings, as detailed below.

● Innovative technology costs relate to our human-centered remote and automated operations, which are typically disclosed as a non-GAAP reconciling item.

● The Company realized approximately $2 million of cost savings during the second quarter of 2026 and expects to realize approximately $6 million during the third quarter of 2026. Quarterly cost savings are expected to reach approximately $10 million by the first quarter of 2027, representing the full annualized run-rate savings.

● The $40 million of annualized run-rate cost savings are expected to be cash savings. These savings support, but are not incremental to, the Company's previously communicated 2028 Investor Day financial targets.

Cost Savings, pre-tax

(in millions)

Asset-Based

Asset-Light

Innovative technology costs

Total

Forward-Looking Statements

The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: Certain statements and information in this exhibit may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding (i) our expectations about our intrinsic value or our prospects for growth and value creation and (ii) our financial outlook, position, strategies, goals, and expectations. Terms such as “anticipate,” “believe,” “could,” “designed,” “estimate,” “expect,” “forecast,” “foresee,” “intend,” “likely,” “may,” “plan,” “predict,” “project,” “scheduled,” “seek,” “should,” “would,” and similar expressions and the negatives of such terms are intended to identify forward-looking statements. These statements are based on management’s beliefs, assumptions, and expectations based on currently available information, are not guarantees of future performance, and involve certain risks and uncertainties (some of which are beyond our control). Although we believe that the expectations reflected in these forward-looking statements are reasonable as and when made, we cannot provide assurance that our expectations will prove to be correct and caution the reader not to place undue reliance on our forward-looking statements. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in these statements due to a number of factors, including, but not limited to: data breaches, cybersecurity incidents, and/or interruptions or failures of our information systems that we depend on, including software programs and applications provided by third parties; untimely or ineffective development and implementation of, or failure to realize the potential benefits associated with, new or enhanced technology or processes; the loss or reduction of business from multiple large customers or an overall reduction in our customer base; the timing and performance of growth initiatives and the ability to manage our cost structure; the cost, integration, and performance of future acquisitions and the inability to realize the anticipated benefits of the acquisition; unsolicited takeover proposals, proxy contests, and other proposals or actions by activist investors; maintaining our corporate reputation and intellectual property rights; failure to achieve market acceptance or generate adequate returns through our Vaux® technologies; establishing and maintaining adequate internal controls over financial reporting; disruptions in domestic or global manufacturing activity, supply chains, and related changes in spending, resulting in material reductions in freight volumes; competitive initiatives and pricing pressures; increased prices for and decreased availability of equipment, including new revenue equipment, and higher costs of equipment-related operating expenses such as maintenance, fuel, and related taxes; availability of fuel, the effect of volatility in fuel prices and the associated changes in fuel surcharges on securing increases in base freight rates, and the inability to collect fuel surcharges; relationships with employees, including unions, and our ability to attract, retain, and upskill employees; unfavorable terms of, or the inability to reach agreement on, future collective bargaining agreements or a workforce stoppage by our employees covered under ABF Freight’s collective bargaining agreement; union employee wages and benefits, including changes in required contributions to multiemployer plans; availability and cost of reliable third-party services; our ability to secure independent owner-operators and/or operational or regulatory issues related to our use of their services; litigation or claims asserted against us; the effects, costs and potential liabilities related to changes in and compliance with, or violation of, existing or future governmental laws and regulations, including, but not limited to, environmental laws and regulations, such as emissions-control regulations and fuel efficiency regulations; default on covenants of financing arrangements and the availability and terms of future financing arrangements; our ability to generate sufficient cash from operations to support significant ongoing capital expenditure requirements and other business initiatives; self-insurance claims, insurance premium costs, and loss of our ability to self-insure; potential impairment of long-lived assets and goodwill and intangible assets; external events which may adversely affect us or the third parties who provide services for us, for which our business continuity plans may not adequately prepare us, including, but not limited to, the occurrence of natural disasters, public health crises, geopolitical conflicts, acts of terrorism or war, cybersecurity incidents, or trade restrictions; general economic conditions and related shifts in market demand that impact the performance and needs of industries we serve and/or limit our customers’ access to adequate financial resources; seasonal fluctuations, adverse weather conditions, natural disasters, and climate change; and other financial, operational, and legal risks and uncertainties detailed from time to time in ArcBest Corporation’s public filings with the Securities and Exchange Commission (“SEC”).

EX-99.3

Filename: arcb-20260729xex99d3.htm · Sequence: 4

Exhibit 99.3

2Q26

Earnings

Presentation

The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: Certain statements and information in this presentation may constitute “forward-looking

statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding (i) our expectations about our intrinsic value or our

prospects for growth and value creation and (ii) our financial outlook, position, strategies, goals, and expectations. Terms such as “anticipate,” “believe,” “could,” “designed,” “estimate,” “expect,”

“forecast,” “foresee,” “intend,” “likely,” “may,” “plan,” “predict,” “project,” “scheduled,” “seek,” “should,” “would,” and similar expressions and the negatives of such terms are intended to identify

forward-looking statements. These statements are based on management’s beliefs, assumptions, and expectations based on currently available information, are not guarantees of future

performance, and involve certain risks and uncertainties (some of which are beyond our control). Although we believe that the expectations reflected in these forward-looking statements are

reasonable as and when made, we cannot provide assurance that our expectations will prove to be correct and caution the reader not to place undue reliance on our forward-looking statements.

Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in these statements due to a number of factors, including, but not limited to: data breaches,

cybersecurity incidents, and/or interruptions or failures of our information systems that we depend on, including software programs and applications provided by third parties; untimely or

ineffective development and implementation of, or failure to realize the potential benefits associated with, new or enhanced technology or processes; the loss or reduction of business from

multiple large customers or an overall reduction in our customer base; the timing and performance of growth initiatives and the ability to manage our cost structure; the cost, integration, and

performance of future acquisitions and the inability to realize the anticipated benefits of the acquisition; unsolicited takeover proposals, proxy contests, and other proposals or actions by activist

investors; maintaining our corporate reputation and intellectual property rights; failure to achieve market acceptance or generate adequate returns through our Vaux® technologies; establishing

and maintaining adequate internal controls over financial reporting; disruptions in domestic or global manufacturing activity, supply chains, and related changes in spending, resulting in material

reductions in freight volumes; competitive initiatives and pricing pressures; increased prices for and decreased availability of equipment, including new revenue equipment, and higher costs of

equipment-related operating expenses such as maintenance, fuel, and related taxes; availability of fuel, the effect of volatility in fuel prices and the associated changes in fuel surcharges on

securing increases in base freight rates, and the inability to collect fuel surcharges; relationships with employees, including unions, and our ability to attract, retain, and upskill employees;

unfavorable terms of, or the inability to reach agreement on, future collective bargaining agreements or a workforce stoppage by our employees covered under ABF Freight’s collective bargaining

agreement; union employee wages and benefits, including changes in required contributions to multiemployer plans; availability and cost of reliable third-party services; our ability to secure

independent owner-operators and/or operational or regulatory issues related to our use of their services; litigation or claims asserted against us; the effects, costs and potential liabilities related

to changes in and compliance with, or violation of, existing or future governmental laws and regulations, including, but not limited to, environmental laws and regulations, such as emissions-control regulations and fuel efficiency regulations; default on covenants of financing arrangements and the availability and terms of future financing arrangements; our ability to generate

sufficient cash from operations to support significant ongoing capital expenditure requirements and other business initiatives; self-insurance claims, insurance premium costs, and loss of our

ability to self-insure; potential impairment of long-lived assets and goodwill and intangible assets; external events which may adversely affect us or the third parties who provide services for us,

for which our business continuity plans may not adequately prepare us, including, but not limited to, the occurrence of natural disasters, public health crises, geopolitical conflicts, acts of

terrorism or war, cybersecurity incidents, or trade restrictions; general economic conditions and related shifts in market demand that impact the performance and needs of industries we serve

and/or limit our customers’ access to adequate financial resources; seasonal fluctuations, adverse weather conditions, natural disasters, and climate change; and other financial, operational, and

legal risks and uncertainties detailed from time to time in ArcBest Corporation’s public filings with the Securities and Exchange Commission (“SEC”).

For additional information regarding known material factors that could cause our actual results to differ from those expressed in these forward-looking statements, please see our filings with the

SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 2

F O R W A R D L O O K I N G S T A T E M E N T S

We are a leading integrated logistics company that leverages technology

and a full suite of solutions to meet customers’ supply chain needs

A T A G L A N C E N A S D A Q : A R C B

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 * Armstrong & Associates, US Department of Commerce, management estimates – July 2025. 3

Customers

14K

Employees

1923

Founded Addressable

Market*

99%

United States

Coverage

~250

Campuses and

Service Centers

40K+

Owned

Equipment

Top 20

U.S. Truckload

Broker

~$400B

30K+

V I S I O N S T R A T E G Y

Creativity Integrity Collaboration Growth Excellence Wellness

M I S S I O N

To connect and

positively impact the

world through

solving logistics

challenges

To be the leading

logistics partner and

innovator, working with

customers to build

better supply chains

across the globe

To drive long-term

value by delivering a

premium experience

and growing informed,

trusted, innovative

relationships

V A L U E S

We create

solutions

We do the

right thing

We work together We grow our people

and our business

We exceed

expectations

We embrace

total health

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 4

MOTTO: “We’ll find a way”

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 5

ARCBEST IS A STRATEGIC PARTNER TO CUSTOMERS

Cost Savings

Actionable Supply

Chain Insights

Operational

Efficiencies

P A R T N E R I N G

W I T H C U S T O M E R S

T O P R O V I D E

C U S T O M E R S

W A N T

A N D N E E D

Resiliency

Flexibility Efficiency

ArcBest

Seamlessly

Connects

Customers &

Reliability Capacity

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 6

ARCBEST SOLVES CUSTOMER NEEDS

THROUGH MULTIPLE SOLUTIONS

Less-than- Truckload

Truckload

Managed Expedite and

Other Services

Customers use an average of 4services

>3x

Revenue & Profit per

account is over 3X higher

on cross-sold accounts

Revenue

& Profit

70%

About 70% of customers who use

Asset-Light services also utilize

Asset-Based services

Higher Customer

Retention

Asset-Light

+ Asset-Based

Retention rates are 5

percentage points higher on

cross-sold accounts than on

single-solution accounts

Shared resources provide scale and cost efficiencies

Sales Technology Financial Services Human Resources

CUSTOMER-LED STRATEGY YIELDS RESULTS

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6

2017 2018 2019 2020 2021 2022 2023 2024 2025 2Q26

Average Managed Shipments Per Day

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 8

MANAGED SOLUTIONS

ArcBest is a 3PL with Assets

• Strong network of LTL,

truckload & rail

capacity providers

• ~240 Service Centers

• 40K+ pieces of owned

equipment

Sourcing

Customer Benefits

• Supply Chain Optimization

• Network Design and Pool

Distribution

• Vendor Consolidations

• Technology Enabled

Integrations

• End-to-End Visibility

& Reporting

• Supply Chain Efficiency and

Reduced Costs

Managed feeds ~40% CAGR ‘17-26

LTL, Truckload

and Expedite

16%-19%

Margin Expansion and Growth

Strong EPS Growth

2028 FINANCIAL TARGETS

Annual Operating Cash Flow

87%-90%

Asset-Based Non-GAAP

Operating Ratio(1)

$40M-$70M

Asset-Light Non-GAAP

Operating Income(1)

$400M-$500M

$12-$15

Non-GAAP Diluted EPS (1)(2)

Non-GAAP Return on Capital Employed(1)

1) See non-GAAP reconciliations in the Additional Information section of this presentation E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 2) Assumes consistent outstanding shares 9

Increasing

EFFICIENCY

Driving

INNOVATION

Accelerating

PROFITABLE GROWTH

✓ Go-to-Market Approach

✓ Maintaining Yield Discipline

✓ Expanding Quote Pool

✓ Enhancing Customer Service and Visibility Tools

✓ Network Capacity

✓ Fleet Optimization

✓ Continuous Improvement Training

✓ Technology & AI Portfolio

STRATEGIC PILLARS

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 10

Marketing Sales Solutions

Design Yield

Commercial Team

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 11

GO-TO-MARKET APPROACH

Accelerating Managed

Opportunities

Growing Core LTL

Business

Growing Truckload

Business & Optimizing Mix

Enhancing

Expedite Growth

ACCELERATING

PROFITABLE GROWTH

Making it easier for customers to choose and grow with ArcBest

MAINTAINING YIELD DISCIPLINE

THROUGH CENTRALIZED PRICING STRATEGY

$25

$50

Revenue/CWT

$275

$550

Revenue/Shipment

Cost Market Value

Strongest

LTL Pricing

Metrics Among

Competitors

Peers ABF

Legend:

~1.7x ~1.6x

Peers as of 1Q26

What is the

market price?

How much will it

cost to handle?

What additional value

are we providing?

ABF 2Q26 Peers as of 1Q26 ABF 2Q26

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 12

ACCELERATING

PROFITABLE GROWTH

EXPANDING QUOTE POOL

DRIVES PROFITABLE GROWTH

Selectively fill

capacity to

optimize yield

and profitability

ArcBest View

TMS Providers

3PLs

NMFC Changes

Profitable

Growth

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 13

ACCELERATING

PROFITABLE GROWTH

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 14

DYNAMIC PRICE IMPROVES

AS QUOTES GROW

ACCELERATING

PROFITABLE GROWTH

More quotes,

more choices

Drives additional

incremental profit

50K

100K

150K

200K

250K

300K

2020 2021 2022 2023 2024 2025 2026

Daily Dynamic Quotes

~75% More

Rev/Ship

Since 2020

8,820 8,820

8,955

9,254

9,499

9,604

135

299

245

105

2021 2022 2023 2024 2025 2026 YTD

~8% Net Door Expansion Since 2021

8,820

8,955

9,254

9,499

9,604

Existing Doors New Doors

Strategically Adding Capacity

Revenue Growth

E N A B L E S :

Efficiency

Productivity

Service

I M P R O V E S :

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 15

NETWORK CAPACITY

Disciplined investments in our long-term

LTL network facility roadmap

INCREASING

EFFICIENCY

9,627

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 16

FLEET OPTIMIZATION

Disciplined investments in our fleet

FLEET INVESTMENT

• Annual reinvestment

cycle

• Optimized total cost

of ownership

• 40,000+ owned and

operated pieces of

equipment

FLEET EFFICIENCY

• Maintaining young

and modern fleet

• Piloting and

implementing

solutions to

improve vehicle

efficiency

SAFETY

• Piloting speed

limiter and control

technology

• Implemented

advanced safety

features

SUSTAINABILITY

• Testing electric

vehicles

• EPA SmartWay

partner since 2006

INCREASING

EFFICIENCY

Customer value remains central as we balance

digital enablement with human support

AI supports our strategy and is

integrated into current initiatives

DRIVING

INNOVATION

Governance ensures responsible,

secure, and rapid deployment

We build where our network and process

knowledge create advantage, and we

partner where it speeds time-to-value

We apply multiple AI techniques

aligned to each use case

We equip employees with secure

generative AI tools and training

Our AI portfolio is prioritized to create

meaningful value across the business

ARCBEST AI APPROACH

Delivering tangible productivity gains and enabling growth

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 18

TECHNOLOGY AND AI PORTFOLIO

Optimize the asset-based

network

Asset-Based

Optimization

Provide efficiency & margin

improvements

Asset-Light

Optimization

Provide customers with

better, quicker information

Interaction

Optimization

Create self-service tools for

Customers and Carriers

Digital Platforms

City Route Optimization*

Flex Deliveries

Linehaul Optimization*

Delivery Image Grading*

Trailer Close Model

Augmented Appt Scheduling*

Network Simulation Tools*

Inbound Call Offer

Collection*

Inbound Email Offer

Collection*

Spot Price Enhancements*

Load Posting Optimization

Automated Offer

Negotiation*

Capacity Sourcing

Augmentation

Interaction Categorization &

Routing*

Phone & Email Tracking

Automation*

Email Quoting Automation*

Phone & Email Load

Scheduling Automation*

Enhanced Pickup ETAs

Email Document Request

Automation*

ArcBest View

Carrier Portal Digital Tools

Enhanced Tracking Statuses

* Includes AI components that enhance efficiency and decision support.

DRIVING

INNOVATION

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 19

• Quote, book and manage shipments

through a single interface

• Provides real-time visibility

across ArcBest logistics solutions

• Delivers integrated reporting on

cost and service performance

• Aligns workflows with how

customers manage daily shipments

• Combines self-service convenience

with ArcBest expertise

Unified platform for shipment

execution, visibility and insights

“This is the best software we’ve seen.

It’s so user friendly.”

W H A T W E ’ R E H E A R I N G :

– Industrial equipment provider

“I have had the easiest time booking and

changing arrangements when needed!”

– Global defense contractor

“Amazing service,

very easy to use!”

– Healthcare provider

$21M 64%

$1.2B

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 20

Key

Metrics

A R C B E S T

C O N S O L I D A T E D

2Q26 vs 2Q25

ArcBest Consolidated Revenue

$2.38

Non-GAAP Earnings per

Diluted Share(1)

$73.9M

Non-GAAP Operating Income(1)

Asset-Based

16%

Asset-Light

75%

$5M

1) See non-GAAP reconciliations in the Additional Information section of this presentation

Billed

Rev/CWT

Billed Revenue

per Shipment 4%

42%

Shipments

per Day

Average Increase on

Contract Renewals

and Deferred Pricing

Agreements

Tonnage

per Day

Weight per

Shipment

5% 13%

5.8%

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 21

Key

Metrics

A S S E T - B A S E D

2Q26 vs 2Q25

Non-GAAP Operating Income(1) 10%

$72.3M

Per Day

90.8%

Non-GAAP Operating Ratio(1)

200BPS

Improvement

Asset-Based Revenue

$784M

1) See non-GAAP reconciliations in the Additional Information section of this presentation

Higher Revenue per Shipment

Increased weight per shipment

Higher revenue per hundredweight

5.8% increase on contract

renewals during 2Q

Higher Cost per Shipment

Increased contracted union labor

rates

Higher fuel and purchased

transportation

Higher equipment depreciation

100

Non-GAAP Operating Ratio YoY Bridge

Improved Rev/Ship outpaced higher Cost/Ship by 200 bps

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 22

OPERATING RATIO BRIDGE

K E Y D R I V E R S :

Asset-Based

2Q25 to 2Q26

2Q25

Operating Ratio

2Q26

Rev/Ship

2Q26

Cost/Ship

2Q26

Operating Ratio

See non-GAAP reconciliations in the Additional Information section of this presentation

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 23

LABOR PLANNING ALIGNS HEADCOUNT AND SHIPMENTS

15,000

16,000

17,000

18,000

19,000

20,000

21,000

22,000

5,000

5,500

6,000

6,500

7,000

7,500

8,000

8,500

1Q19

2Q19

3Q19

4Q19

1Q20

2Q20

3Q20

4Q20

1Q21

2Q21

3Q21

4Q21

1Q22

2Q22

3Q22

4Q22

1Q23

2Q23

3Q23

4Q23

1Q24

2Q24

3Q24

4Q24

1Q25

2Q25

3Q25

4Q25

1Q26

2Q26

Shipments/Day

Linehaul and DSY Headcount

Linehaul, Dock, Street and Yard Headcount Shipments/Day

Technology and Training Drives Productivity Gains

J U L Y P R E L I M I N A R Y

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 24

Key

Metrics

A S S E T - B A S E D

July 2026 vs July 2025

Revenue

per Day

Tonnage

per Day

Shipments

per Day

Billed

Rev/CWT

Billed Revenue

per Shipment

Weight per

Shipment

10%

11%

8% 1%

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 25

Key

Metrics

A S S E T - L I G H T

2Q26 vs 2Q25

$439M

Asset-Light Revenue Non-GAAP Operating Income(1)

Shipments

per Day

Revenue per

Shipment

Shipments per

Employee per Day

Purchased Transportation as % of Revenue: 86%

15% 12% 35%

1) See non-GAAP reconciliations in the Additional Information section of this presentation

28% $6.3M 458%

Per Day

J U L Y P R E L I M I N A R Y

Revenue per

Shipment

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 26

Key

Metrics

A S S E T - L I G H T

July 2026 vs July 2025

19%

Revenue

per Day

Shipments

per Day

Purchased Transportation as % of Revenue: 86%

7% 28%

94.5% 94.2%

88.8%

86.4%

90.4% 91.2%

94.3% 94.0%

75%

80%

85%

90%

95%

2019 2020 2021 2022 2023 2024 2025 2Q26 TTM

FREIGHT RECESSION COVID-19 IMPACTS

Union Pension Impact on Operating Ratio

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 27

ASSET-BASED ANNUAL OPERATING RATIO

FREIGHT RECESSION

See non-GAAP reconciliations in the Additional Information section of this presentation

1,000

1,200

1,400

1,600

1,800

2,000

$300

$350

$400

$450

$500

$550

$600

$650

2019 2020 2021 2022 2023 2024 2025 2Q26 TTM

Weight

Revenue and Cost

Rev/Shp Cost/Shp Wgt/Shp

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 28

ASSET-BASED ANNUAL MARGIN

Revenue per shipment

Reflects disciplined pricing,

changes in freight-profile and fuel

Impacted by weight per shipment

Cost per shipment

Reflects union labor contract and

other inflationary increases

Mitigated by technology, training

and network design that improves

productivity and efficiency

Weight per shipment

Impacted by softness in

manufacturing and housing

Focused on maximizing profitability per shipment

through disciplined pricing and cost control

See non-GAAP reconciliations in the Additional Information section of this presentation

-$40

-$20

$20

$40

$60

$80

$100

2019 2020 2021 2022 2023 2024 2025 2Q26 TTM

FREIGHT RECESSION COVID-19 IMPACTS FREIGHT RECESSION

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 29

ASSET-LIGHT ANNUAL OPERATING INCOME

compared to 2024

(Non-GAAP)

IMPROVEMENT

28M

IN OPERATING RESULTS

See non-GAAP reconciliations in the Additional Information section of this presentation

Maintaining solid balance sheet and investment-grade credit metrics

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 30

BALANCED APPROACH

TO CAPITAL ALLOCATION

Returning cash to shareholders through

share repurchases and dividends

Prioritizing high-return, organic

investments in real estate, equipment,

and innovative projects

Selectively using mergers & acquisitions

to advance strategy

Sustain &

Drive Growth

Return

Capital

Mergers &

Acquisitions

$170

$206

$324

$471

$322

$286

$229

$282

2019 2020 2021 2022 2023 2024 2025 2Q26 TTM

Operating Cash Flow

2019 - 2021 2022 - 2025 2026 - 2028 Target

Normalization following ‘22-‘25

strategic investments

Asset-Light strategy requires

minimal capital

Efficiency gains from tech,

training, process improvements

Rigorous capital

investment evaluation

Projected 2026 Net Capital

Expenditures: $140M to $160M

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 31

CAPITAL INTENSITY DECREASING

K E Y D R I V E R S :

Positioned for growth without major new buildouts

Capital Expenditures % of Revenue

Below

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 32

RETURN OF CAPITAL

Increasing Returns to Shareholders Through Dividends and Share Repurchases

$125M

Share repurchase authorization

~$500M

Returned to shareholders since 2019

Generates significant free cash

flow, enabling opportunistic share

repurchases

STRONG

OUTLOOK

100

200

300

400

500

600

2019 2020 2021 2022 2023 2024 2025 2026 YTD

Cumulative Dividends Cumulative Share Repurchases

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 33

SOLID FINANCIAL FOUNDATION

~$700M of Current and

Potential Capacity

~$400M

Cash and Current

Debt Capacity

~$300M

Potential Future

Debt Capacity(2)

1) See non-GAAP reconciliations in the Additional Information section of this presentation

2) Reflects available amounts under accordion features of the Credit Facility as well as allowable equipment

financing borrowings, as of 2Q 2026

-0.5

0.5

1.5

2019 2020 2021 2022 2023 2024 2025 2Q26 TTM

Net Debt to EBITDA

(Non-GAAP)(1)

S&P 500 Net Debt to EBITDA ArcBest Net Debt to EBITDA

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 34

RETURN ON CAPITAL EMPLOYED

10%

15%

20%

25%

30%

2019 2020 2021 2022 2023 2024 2025 2Q26 TTM

Return on Capital Employed

(Non-GAAP)

Disciplined capital

allocation and strategic

investments that deliver

long-term growth

DRIVES

SUSTAINABLE

VALUE

See non-GAAP reconciliations in the Additional Information section of this presentation

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 35

Reconciliations of GAAP to

Non-GAAP Financial Measures

(Unaudited)

Note: We report our financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). However, management believes

that certain non-GAAP financial measures and ratios utilized internally to assess core performance offer analysts, investors, and others insights

into performance trends by excluding items from operating results that management believes do not reflect our core operating performance. Our

calculations may not be comparable to similarly titled measures of other companies as other companies may calculate non-GAAP measures

differently. Certain information discussed in the scheduled conference call could be considered non-GAAP measures. Non-GAAP financial

measures should be viewed in addition to, and not as an alternative or a better measurement than operating income (loss), net income (loss) or

earnings per share, as determined under GAAP, which are the most directly comparable measures for the periods presented.

All forward-looking financial targets in this presentation assume a consolidated tax rate of

25%.

Consolidated non-GAAP earnings per share and non-GAAP return on capital employed are

non-GAAP financial measures that are most directly comparable to consolidated earnings per

share and return on capital employed. These non-GAAP measures exclude purchase

accounting amortization, which is expected to total $7M pre-tax in 2028. We are unable to

provide a quantitative reconciliation of these forward-looking non-GAAP measures to the most

directly comparable GAAP measures without unreasonable effort because the timing, amount,

and nature of the adjustments that would be required to reconcile such measures are

inherently uncertain, depend on future events outside of our control, and cannot be reasonably

predicted. These items include innovative technology costs, life insurance proceeds, changes in

the cash surrender value of life insurance policies, income taxes related to future vesting of

restricted stock units, and potential non-recurring or unusual items, any of which could be

material.

Non-GAAP Asset-Based Operating Ratio is a non-GAAP financial measure that is most directly

comparable to Asset-Based Operating Ratio. Non-GAAP Asset-Based OR could be adjusted for

non-recurring, infrequent, or unusual items. Because the timing, amount and nature of any

adjustments are unknown, and any adjustments could be material in future periods, we are

unable to provide quantitative reconciliations to the most directly comparable GAAP measure.

Asset-Light non-GAAP operating income range of $40M to $70M excludes GAAP impacts from

purchase accounting amortization, which is expected to total $7M in 2028. Including these

impacts, the Asset-Light GAAP operating income would range from $33M to $63M in 2028. See

reconciliation table to the right.

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 36

Forward-Looking Non-GAAP

Financial Measures

A D D I T I O N A L

I N F O R M A T I O N

RECONCILIATIONS OF GAAP TO

NON-GAAP FINANCIAL MEASURES

(Unaudited)

2028 Target

Asset-Light – Operating Income ($ millions)

Amounts on a GAAP basis $ 33 - 63

Purchase accounting amortization, pre-tax (1) 7

Non-GAAP amounts $ 40 - 70

1. Represents the amortization of acquired intangible assets in the Asset-Light segment.

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

(Unaudited)

2Q26 2Q25

ArcBest Consolidated – Operating Income (Loss) ($ millions)

Amounts on a GAAP basis $ (20.6) $ 37.3

Innovative technology costs, pre-tax (1) 7.5 7.1

Purchase accounting amortization, pre-tax (2) 2.5 3.2

Asset impairment charges, pre-tax (3) 85.3 -

Restructuring charges, pre-tax (4) 2.2 -

Gain on sale of property, pre-tax (5) (2.9) -

Change in fair value of contingent consideration, pre-tax (6) - (2.7)

Non-GAAP amounts (7) $ 73.9 $ 45.0

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 37

ArcBest

Consolidated

1. Represents costs related to our customer pilot offering of Vaux and initiatives to optimize our performance through technological innovation.

2. Represents the amortization of acquired intangible assets in the Asset-Light segment.

3. Represents $50.8 million in asset impairment charges related to the write-off of certain freight movement system assets associated with Vaux. Also represents $25.7 million in

noncash asset impairment charges to write off the Panther trade name as part of a strategic brand consolidation decision within Asset-Light’s operations and $8.8 million in

lease-related impairment charges for certain Asset-Light office space.

4. Represents restructuring charges for the realignment of the Company’s organizational structure as previously announced.

5. Represents the gain on a service center sale within the Asset-Based operations.

6. Represents change in fair value of the contingent earnout consideration recorded for the MoLo acquisition.

7. Non-GAAP amounts are calculated in total and may not equal the sum of the GAAP and the non-GAAP adjustments due to rounding.

A D D I T I O N A L

I N F O R M A T I O N

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 38

ArcBest

Consolidated

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

(Unaudited)

2Q26 2Q25

ArcBest Consolidated – Diluted Earnings (Loss) Per Share (1)

Amounts on a GAAP basis $ (0.62) $ 1.12

Innovative technology costs, after-tax (includes related financing costs) (2) 0.25 0.24

Purchase accounting amortization, after-tax (3) 0.08 0.10

Asset impairment charges, after-tax (4) 2.86 -

Restructuring charges, after-tax (5) 0.07 -

Gain on sale of property, after-tax (6) (0.10) -

Change in fair value of contingent consideration, after-tax (7) - (0.09)

Changes in cash surrender value and gains on life insurance policies (0.11) (0.06)

Tax expense (benefit) from vested RSUs (0.06) 0.04

Non-GAAP amounts (8) $ 2.38 $ 1.36

1. For the three months ended June 30, 2026, ArcBest reported a net loss on a GAAP basis and reported net income on a non-GAAP basis. The average common shares outstanding used to

calculate non-GAAP diluted earnings per share for the 2026 period was adjusted to include unvested restricted stock awards, which were excluded from the calculation of GAAP diluted earnings

per share due to the net loss.

2. Represents costs related to our customer pilot offering of Vaux and initiatives to optimize our performance through technological innovation.

3. Represents the amortization of acquired intangible assets in the Asset-Light segment.

4. Represents $50.8 million in asset impairment charges related to the write-off of certain freight movement system assets associated with Vaux. Also represents $25.7 million in noncash asset

impairment charges to write off the Panther trade name as part of a strategic brand consolidation decision within Asset-Light’s operations and $8.8 million in lease-related impairment charges for

certain Asset-Light office space.

5. Represents restructuring charges for the realignment of the Company’s organizational structure as previously announced.

6. Represents the gain on a service center sale within the Asset-Based operations.

7. Represents change in fair value of the contingent earnout consideration recorded for the MoLo acquisition.

8. Non-GAAP amounts are calculated in total and may not equal the sum of the GAAP and the non-GAAP adjustments due to rounding.

Three

Months Ended

Average Common Shares Outstanding June 30, 2026

Diluted shares on GAAP basis 22,348,772

Effect of unvested restricted stock awards 134,670

Non-GAAP diluted shares 22,483,442

A D D I T I O N A L

I N F O R M A T I O N

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 39

Asset-Based

A D D I T I O N A L

I N F O R M A T I O N

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

(Unaudited)

2Q26 2Q25

Asset-Light – Operating Income (Loss) ($ millions)

Amounts on a GAAP basis $ (31.3) $ 0.6

Purchase accounting amortization, pre-tax (1) 2.5 3.2

Asset impairment charges, pre-tax (2) 34.5 -

Restructuring charges, pre-tax (3) 0.7 -

Change in fair value of contingent consideration, pre-tax (4) - (2.7)

Non-GAAP amounts (5) $ 6.3 $ 1.1

1. Represents the amortization of acquired intangible assets in the Asset-Light segment.

2. Represents $25.7 million in noncash asset impairment charges to write off the Panther trade name as part of a strategic brand consolidation decision within Asset-Light’s operations and $8.8

million in lease-related impairment charges for certain Asset-Light office space.

3. Represents restructuring charges for the realignment of the Company’s organizational structure as previously announced.

4. Represents change in fair value of the contingent earnout consideration recorded for the MoLo acquisition.

5. Non-GAAP amounts are calculated in total and may not equal the sum of the GAAP and the non-GAAP adjustments due to rounding

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

(Unaudited)

2Q26 2Q25

Asset-Based – Operating Income ($ millions)

Amounts on a GAAP basis $ 74.3 90.5% $ 51.0 92.8%

Restructuring charges, pre-tax (1) 1.0 (0.1) - -

Gain on sale of property, pre-tax (2) (2.9) 0.4 - -

Non-GAAP amounts (3) $ 72.3 90.8% $ 51.0 92.8%

1. Represents restructuring charges for the realignment of the Company’s organizational structure as previously announced.

2. Represents the gain on a service center sale within the Asset-Based operations.

3. Non-GAAP amounts are calculated in total and may not equal the sum of the GAAP and the non-GAAP adjustments due to rounding.

Asset-Light

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 40

Asset-Based

A D D I T I O N A L

I N F O R M A T I O N

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES*

(Unaudited)

2019 2020 2021 2022 2023 2024 2025 2Q26 TTM

Asset-Based

Operating Income ($ millions, except percentages)

Amounts on a GAAP basis $ 102.1 95.2% $ 98.9 95.3% $ 260.7 89.9% $ 381.1 87.3% $ 253.2 91.2% $ 242.6 91.2% $ 172.0 93.7% $ 186.3 93.4%

Restructuring charges, pre-tax (1) - - - - - - - - - - - - - - 1.0 -

Gain on sale of certain

properties, pre-tax (2) - - - - - - - - - - - - (15.7) 0.6 (18.6) 0.7

Innovative technology costs,

pre-tax (3) 13.7 (0.6) 22.5 (1.1) 27.6 (1.1) 27.2 (0.9) 21.7 (0.8) - - - - - -

Asset impairment charges,

pre-tax (4) - - - - - - - - 0.7 - - - - - - -

Nonunion vacation policy

enhancement, pre-tax (5) - - - - - - 1.2 - - - - - - - - -

ELD conversion costs, pre-tax (6) 2.7 (0.1) - - - - - - - - - - - - - -

Nonunion pension termination

costs, pre-tax (7) 0.3 - - - - - - - - - - - - - - -

Non-GAAP amounts (8) $ 118.8 94.5% $ 121.3 94.2% $288.3 88.8% $409.6 86.4% $ 275.5 90.4% $242.6 91.2% $ 156.3 94.3% $ 168.6 94.0%

*See “Notes to Non-GAAP Financial Tables” for footnotes to this non-GAAP table

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 41

Asset-Light

A D D I T I O N A L

I N F O R M A T I O N

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES*

(Unaudited)

2019 2020 2021 2022 2023 2024 2025 2Q26 TTM

Asset-Light – Operating Income (Loss) ($ millions)

Amounts on a GAAP basis $ (20.2) $ 9.7 $ 46.4 $ 52.7 $ (12.3) $ 58.4 $ (15.3) $ (42.6)

Purchase accounting amortization, pre-tax (9) 4.2 3.8 5.3 12.9 12.8 12.8 12.8 11.4

Asset impairment charges, pre-tax (4) 26.5 - - - 14.4 1.7 6.6 41.1

Restructuring charges, pre-tax (1) - - - - - - - 0.7

Change in fair value of contingent consideration, pre-tax (10) - - - 18.3 (19.1) (90.3) (2.7) -

Legal settlement, pre-tax (11) - - - - 9.5 0.3 - -

Gain on sale of subsidiaries, pre-tax (12) - - (6.9) (0.4) - - - -

Nonunion vacation policy enhancement, pre-tax (5) - - - 0.3 - - - -

Non-GAAP amounts (8) $ 10.5 $ 13.4 $ 44.7 $ 83.8 $ 5.3 $ (17.1) $ 1.5 $ 10.7

*See “Notes to Non-GAAP

Financial Tables” for footnotes

to this non-GAAP table

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 42

A D D I T I O N A L

I N F O R M A T I O N

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES*

(Unaudited)

2019 2020 2021 2022 2023 2024 2025 2Q26 TTM

ArcBest Consolidated – Adjusted EBITDA (14) ($ millions)

Net Income (Amounts on a GAAP basis) $ 35.2 $ 67.3 $ 210.5 $ 294.6 $ 142.2 $ 173.4 $ 60.1 $ 16.3

Interest and other related financing costs 11.5 11.7 8.9 7.7 9.1 9.0 12.4 14.3

Income tax provision 10.1 20.4 62.6 93.7 44.8 45.4 23.0 4.4

Depreciation and amortization (15) 111.1 116.8 122.6 138.2 145.3 149.1 170.3 178.4

Amortization of share-based compensation 9.4 10.3 11.2 12.5 11.4 11.4 10.6 9.1

Change in fair value of contingent consideration (10) - - - 18.3 (19.1) (90.3) (2.7) -

Asset impairment charges (4) 26.5 - - - 30.2 1.7 12.0 97.3

Legal settlement (11)

- - - - 9.5 0.3 - -

Change in fair value of equity investment (16)

- - - - (3.7) 28.7 - -

Gain on sale of subsidiaries, after-tax (12)

- - (6.9) (0.4) - - - -

Transaction costs, after-tax (17)

- - 6.0 - - - - -

Amortization of actuarial losses of benefit plans and pension

settlement expense (18) 9.8 - - - - - - -

Consolidated Adjusted EBITDA (8) $ 213.6 $ 226.5 $ 414.8 $ 564.6 $ 369.6 $ 328.6 $ 285.8 $ 319.9

ArcBest

Consolidated

*See “Notes to Non-GAAP

Financial Tables” for footnotes

to this non-GAAP table

(continuing operations)(13)

RETURN ON CAPITAL EMPLOYED (ROCE)(19) 2019 2020 2021 2022 2023 2024 2025 2Q26 TTM

(Unaudited, $ millions)

Net Income (Amounts on a GAAP basis) $ 35.2 $ 67.3 $ 210.5 $ 294.6 $ 142.2 $ 173.4 $ 60.1 $ 16.3

Innovative technology costs, after-tax (includes related financing costs) (3) 15.7 19.6 24.9 30.8 39.7 26.1 22.2 22.4

Purchase accounting amortization, after-tax (9) 3.1 2.8 3.9 9.6 9.6 9.6 9.6 8.6

Changes in cash surrender value and gains on life insurance policies (3.7) (2.3) (4.1) 2.7 (4.6) (3.3) (3.3) (4.4)

Tax expense (benefit) from vested RSUs (20) 0.5 0.5 (7.6) (8.1) (5.3) (11.3) 1.0 (1.4)

Change in fair value of contingent consideration, after-tax (10) - - - 13.6 (14.4) (67.9) (2.0) -

Asset impairment charges, after-tax (4) 19.8 - - - 22.6 1.3 9.1 73.3

Legal settlement, after-tax (11)

- - - - 7.1 0.2 - -

Gain on sale of certain properties, after-tax (2)

- - - - - - (11.8) (14.0)

Restructuring charges, after-tax (1) 1.6

Change in fair value of equity investment, after-tax (16)

- - - - (2.8) 21.6 - -

Gain on sale of subsidiaries, after-tax (12)

- - (5.4) (0.3) - - - -

Nonunion vacation policy enhancement, after-tax (5) - - - 1.5 - - - -

Tax credits (21) (2.5) (1.3) (1.5) 0.2 - - - -

Transaction costs, after-tax (17)

- - 4.4 - - - - -

Nonunion pension expense, including settlement expense, after-tax (22) 8.0 0.1 - - - - - -

ELD conversion costs, after-tax (6) 2.0 - - - - - - -

Nonunion pension termination costs, after-tax (7) 0.3 - - - - - - -

After-tax interest expense (23) 8.7 8.8 6.5 5.7 6.7 6.6 9.1 10.6

ROCE Earnings (8) $ 87.1 $ 95.5 $ 231.5 $ 350.5 $ 200.8 $ 156.3 $ 93.9 $ 113.0

Beginning equity 717.7 763.0 828.6 929.1 1,151.4 1,242.4 1,314.4 1,300.4

Ending equity 763.0 828.6 929.1 1,151.4 1,242.4 1,314.4 1,295.7 1,267.6

Average Total Equity (24) $ 740.4 $ 795.8 $ 878.8 $ 1,040.2 $ 1,196.9 $ 1,278.4 $ 1,305.0 $ 1,284.0

Beginning debt 291.7 323.5 284.2 225.5 264.6 228.9 189.1 241.4

Ending debt 323.5 284.2 225.5 264.6 228.9 189.1 223.9 215.5

Average Total Debt (25) $ 307.6 $ 303.9 $ 254.9 $ 245.1 $ 246.8 $ 209.0 $ 206.5 $ 228.5

Average Capital Employed $ 1,048.0 $ 1,099.7 $ 1,133.7 $ 1,285.3 $ 1,443.7 $ 1,487.4 $ 1,511.5 $ 1,512.5

ROCE (percent) 8% 9% 20% 27% 14% 11% 6% 8%

A D D I T I O N A L

I N F O R M A T I O N

ArcBest

Consolidated

*See “Notes to Non-GAAP

Financial Tables” for footnotes

to this non-GAAP table

(continuing operations)(13)

The following footnotes apply to the non-GAAP financial tables on the previous four slides in this presentation:

1) Represents restructuring charges for the realignment of the Company’s organizational structure as previously announced.

2) Primarily includes gains on service center sales within the Asset-Based operations.

3) Represents costs related to our customer pilot offering of Vaux and initiatives to optimize our performance through technological innovation. The 2019-2023 periods also include costs associated with the freight

handling pilot test program at ABF Freight, for which the decision was made to pause the pilot during third quarter 2023. Costs for 2019-2020 have been adjusted to conform to the current-year presentation.

4) The 2026 periods represents $50.8 million in asset impairment charges related to the write-off of certain freight movement system assets associated with Vaux. Also represents $25.7 million in noncash asset

impairment charges to write off the Panther trade name as part of a strategic brand consolidation decision within Asset-Light’s operations and $8.8 million in lease-related impairment charges for certain Asset-Light office space. The 2025 periods represent noncash asset impairment charges recognized during fourth quarter 2025 related to the indefinite-lived intangible assets within Asset-Light’s segment and the

write-off of certain assets utilized in the freight handling pilot program. The 2024 periods represent noncash asset impairment charges for certain revenue equipment and software recognized during fourth

quarter 2024 as part of a strategic decision to adjust capacity within Asset-Light’s operations. The 2023 periods represent noncash lease-related impairment charges for a freight handling pilot facility, an

Asset-Based service center, and Asset-Light office spaces that were made available for sublease. The 2019 periods represent a noncash impairment charge recognized in fourth quarter related to a portion of the

goodwill, customer relationship intangible assets, and revenue equipment associated with the acquisition of truckload brokerage and truckload dedicated businesses within the Asset-Light segment.

5) Represents a one-time, noncash charge for enhancements to our nonunion vacation policy which were effective third quarter 2022.

6) Impairment charges related to equipment replacement and other one-time costs incurred to comply with the electronic logging device (“ELD”) mandate which became effective in December 2019.

7) Consulting fee incurred in third quarter 2019 associated with the termination of the nonunion defined benefit pension plan.

8) Non-GAAP amounts are calculated in total and may not equal the sum of the GAAP and the non-GAAP adjustments due to rounding.

9) Represents the amortization of acquired intangible assets in the Asset-Light segment.

10) Represents change in fair value of the contingent earnout consideration recorded for the MoLo acquisition.

11) Represents settlement expenses related to the classification of certain Asset-Light employees under the Fair Labor Standards Act, which were paid during first quarter 2025.

12) Gains associated with the April 2021 divestitures of moving services subsidiaries for which the gains were recognized in second quarter 2021, when the contingent consideration was received on the transactions,

as well as including the contingent amount recognized in second quarter 2022 when the funds were released to escrow.

13) Historical results of FleetNet have been excluded from results for all periods presented, and reclassifications have been made to the prior-period financial statements to conform to current-year presentation.

14) Adjusted EBITDA is used for business planning and as a key performance measure, particularly because it excludes certain significant expenses resulting from strategic decisions or other factors rather than core

daily operations, such as amortization of acquired intangibles and software of the Asset-Light segment, restructuring costs, and the change in fair value of contingent consideration The calculation of

Consolidated Adjusted EBITDA begins with net income (loss), which is the most directly comparable GAAP measure.

15) Includes amortization of intangibles associated with acquired businesses.

16) For 2024, represents a noncash impairment charge to write off an equity investment in Phantom Auto, a provider of human-centered remote operation software, which ceased operations during first quarter

2024. For 2023, represents the increase in fair value of an investment in Phantom Auto based on observable price changes during second quarter 2023.

17) Represents costs associated with the November 1, 2021, acquisition of MoLo Solutions, LLC.

18) Includes pre-tax pension settlement expense of $4.2 million related to the Company’s nonunion defined benefit pension plan, for which plan termination was completed as of December 31, 2019, and a $4.0

million noncash pension termination expense related to an amount which was stranded in accumulated other comprehensive income until the pension benefit obligation was settled upon plan termination.

19) Management uses Adjusted Return on Capital Employed (ROCE) as a measure of the profitability of the company's capital employed in its business operations. ROCE is a good indicator of long-term company and

management performance as it relates to capital efficiency. The calculation of ROCE as presented below begins with the numerator of Net Income from Continuing Operations and the denominator of Average

Debt and Average Total Equity. The Net Income from Continuing Operations is adjusted for Non-GAAP items and after-tax interest expense.

20) Represents recognition of the tax impact for the vesting of share-based compensation.

21) Represents tax credits recognized in the tax provision which relate to a prior tax year due to timing of recognition or retroactive reinstatement of the tax credits. Includes amounts related to alternative fuel tax

credit in 2018, 2019 and 2022. Includes amounts related to research and development tax credit in 2019, 2020 and 2021. The 2022 period also includes amounts related to the alternative fuel tax credit for the

year ended December 31, 2021, which were recorded in third quarter 2022.

22) Represents nonunion pension expense, including pension settlement and termination expense, related to the Company’s nonunion defined benefit pension plan for which plan termination was completed in 2019.

Also includes pension settlement expense related to the Company’s supplemental benefit plan.

23) After-tax interest expense is interest and other related financing costs, net of an assumed tax rate reflective of the applicable statutory and/or effective tax rates for the period presented.

24) Average total equity is the average of the beginning and ending total stockholders’ equity.

25) Average total debt is the average of the beginning and ending current portion of long-term debt and long-term debt, less current portion.

E A R N I N G S P R E S E N T A T I O N | 2 Q 2 6 44

Notes to Non-GAAP Financial Tables

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