Background
ArcBest (ARCB) is a trucking company that operates in the less-than-truckload ((LTL)) sector. It is comprised of two major segments, an asset-heavy less-than-truckload segment, and an asset-light logistics segment. Its offerings include “less-than-truckload services via the ABF Freight® network, ground expedite solutions through Panther Premium Logistics®, household moving under the U-Pack® brand and vehicle maintenance and repair from FleetNet America®” (About | ArcBest).
Now, some background on the LTL sector. This used to be an asset-heavy, high-maintenance, and low-margin business. It wasn’t until a couple of years ago when e-commerce really took