ArcBest Announces Quarter One Results, Launches "Simplistics" Campaignby Jake Tully - Published: 5/05/2017
ArcBest announced a revenue of $651.1 million its First Quarter Results of the year, a rise of nearly $30 million more as compared to the company’s Quarter One Results of 2016.
The Fort Smith, Arkansas-based freight logistics company reportedly experienced a first quarter net loss of $7.4 million, in comparison to 2016’s first quarter net loss of $6.1 million.
In a statement issued this morning, ArcBest noted that despite the fact that first quarter operations are generally among the most challenging, the company’s asset-light and asset-based business saw revenue growth.
“Our enhanced market approach, in which we now offer most services under the ArcBest brand, became fully operational in the first quarter,” said Judy R. McReynolds President, CEO and Chairman of ArcBest. “We continue to see positive reception from customers about our heightened focus on meeting all of their supply chain needs.”
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In response to ArcBest continuing to fulfill the expectations and needs of supply chain solutions for their customers, the company has recently launched a “Welcome to Simplistics” campaign in which the company’s practices to fulfill supply chain challenges will be highlighted.
“We launched the Simplistics campaign in April with the objective of generating greater brand awareness for ArcBest – which is still a relatively new brand in the marketplace having been launched in 2014 – along with the full scope of solutions we offer and how we simplify the complex logistics challenges our customers face,” said Kathy Fieweger, media relations for ArcBest.
ArcBest also noted that their margins and revenue on an international basis may have been weaker due to disruption within the market of ocean shipping.
“The Hanjin bankruptcy in August of 2016 significantly tightened ocean shipping capacity and impacted industry rates and activities,” said Fieweger. “The lingering market effects of their exit continued to have an impact on our international shipping results.During this year’s first quarter international revenues were down and net revenue margins were below a stronger period in last year’s first quarter.”
ArcBest reported that they do not forecast future results in terms of specific monetary projections, other than predicting a healthy quarter two considering its future campaigns and proposed solutions.
“We remain cautiously optimistic that the 2017 operating environment will improve going forward,” said McReynolds. “Regardless of the environment, our entire team is singularly focused on delivering an excellent customer experience and broadening awareness of the full scope of solutions we provide.”