Arcbest (ARCB) FY2023 results: revenue $4.4 billion, down 12.0% on the year
Arcbest Corp. (ARCB) reported revenue of $4.4 billion for fiscal 2023, the year ended 31 December 2023, down 12.0% on the year before. Net income was $195 million, down 34.5%, and diluted earnings per share $7.93. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$4.4 billion
-12.0% on the year
FY2016FY2023
Operating margin
3.9%
7.8% a year earlier
FY2016FY2023
Net income
$195 million
-34.5% on the year
FY2016FY2023
Diluted EPS
$7.93
-32.2% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
322
471
324
-31.6%
Capital expenditure
219
148
58.4
+47.8%
Free cash flow
103
323
265
-68.0%
Free cash flow margin
2.3%
6.4%
7.0%
Cash from investing
-21.7
-261
-303
Cash from financing
-197
-128
-248
Depreciation and amortisation
145
138
123
+5.2%
Share-based compensation
11.4
12.8
11.4
-10.5%
Buybacks
91.5
65.0
83.1
+40.8%
Dividends paid
11.5
10.8
8.1
+6.6%
Dividend per share
n/a
n/a
$0.32
Diluted shares, weighted
25m
26m
27m
-3.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,242
1,151
929
+7.9%
Debt
229
265
226
-13.5%
Operating lease liabilities
177
148
88.8
+19.5%
Other liabilities
837
930
869
-10.0%
Total liabilities and equity
2,485
2,494
2,113
-0.4%
Fixed assets
915
800
696
+14.3%
Goodwill
305
305
300
0.0%
Intangible assets
101
114
127
-11.1%
Investments
67.8
168
48.3
-59.5%
Cash and equivalents
262
158
76.6
+65.6%
Receivables
430
517
582
-16.9%
Other assets
404
432
283
-6.4%
Total assets
2,485
2,494
2,113
-0.4%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.