Arcbest (ARCB) FY2025 results: revenue $4.0 billion, down 4.0% on the year
Arcbest Corp. (ARCB) reported revenue of $4.0 billion for fiscal 2025, the year ended 31 December 2025, down 4.0% on the year before. Net income was $60 million, down 65.5%, and diluted earnings per share $2.62. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2026.
Revenue
$4.0 billion
-4.0% on the year
FY2018FY2025
Operating margin
2.3%
5.8% a year earlier
FY2018FY2025
Net income
$60 million
-65.5% on the year
FY2018FY2025
Diluted EPS
$2.62
-64.1% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Fourth-quarter revenue and loss declined: Revenue was $972.7 million against $1.0 billion a year earlier. Net loss from continuing operations was $8.1 million, or $0.36 per diluted share, against net income of $29.0 million, or $1.24 per diluted share.
Full-year non-GAAP EPS lower: Full-year revenue was $4.0 billion against $4.2 billion. Non-GAAP diluted EPS from continuing operations was $3.70, against $6.28, when the prior year included a $67.9 million after-tax benefit from the MoLo contingent consideration.
Operating ratio rose to 96.2%: Fourth-quarter operating income was $24.4 million and the operating ratio 96.2 percent, against 92.0 percent. The sequential non-GAAP increase was partly due to three fewer revenue days.
Revenue fell on lower revenue per shipment: Fourth-quarter Asset-Light revenue was $353.5 million against $375.4 million, with revenue per shipment down 5.8 percent and shipments per day up 0.8 percent.
Spot rates lifted revenue and costs: Higher spot rates raised customer pricing in the fourth quarter. They also raised purchased transportation costs, which pressured margins.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
229
286
322
-19.9%
Capital expenditure
115
223
219
-48.6%
Free cash flow
114
62.7
103
+82.0%
Free cash flow margin
2.8%
1.5%
2.3%
Cash from investing
-76.7
-187
-21.7
Cash from financing
-178
-233
-197
Depreciation and amortisation
170
149
145
+14.3%
Share-based compensation
10.6
11.4
11.4
-6.9%
Buybacks
75.6
75.2
91.5
+0.4%
Dividends paid
11.0
11.3
11.5
-2.9%
Diluted shares, weighted
23m
24m
25m
-3.7%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
1,296
1,314
1,242
-1.4%
Debt
224
189
229
+18.4%
Operating lease liabilities
204
190
177
+7.6%
Other liabilities
729
736
837
-1.0%
Total liabilities and equity
2,453
2,430
2,485
+0.9%
Fixed assets
1,143
1,066
915
+7.3%
Goodwill
305
305
305
0.0%
Intangible assets
69.4
88.6
101
-21.7%
Investments
22.2
29.8
67.8
-25.4%
Cash and equivalents
102
127
262
-19.9%
Receivables
371
395
430
-6.0%
Other assets
440
418
404
+5.2%
Total assets
2,453
2,430
2,485
+0.9%
10-K for the year ended 31 December 2025, filed 25 February 2026: the filing.