ARCB - Quick Take - Live From The Truist Securities Industrials & Services Conference

研报英文原文证据摘录

ARCB - Quick Take - Live From The Truist Securities Industrials & Services Conference

Truist Securities

Equity Research Report June 16, 2026

INDUSTRIALS: Freight & Logistics ArcBest Corporation (ARCB)

ARCB - Quick Take - Live From The Truist Securities Industrials & Lucas Servera

404-439-7688 Services Conference

Lucas.Servera@truist.com

Daniel Ighodaro Earlier today we hosted management from ArcBest Corporation (ARCB, Buy) at our Truist

404-439-7388 Securities Industrials & Services Conference and came away encouraged by the company's

Daniel.Ighodaro@truist.com continued progress toward its long-term margin targets. While management acknowledged

that core industrial demand remains soft, pricing, productivity initiatives, and improving

truckload market conditions are already supporting earnings growth.

Current Price (Jun. 16, $159.80 Management reiterated expectations for 600-700bps of sequential operating ratio (OR)

2026) improvement in 2Q26, well above the company's historical seasonal improvement of

Stock Rating BUY ~350bps. Key drivers include LTL pricing gains exceeding 6%, favorable fuel trends, productivity improvements, and an increase in heavier-weight shipments as truckload rates Unchanged

recover.

Price Target $145.00 Importantly, ARCB noted that it has yet to see a meaningful recovery among its core

Unchanged industrial and manufacturing customers, suggesting current margin gains are occurring

before a broader industrial freight recovery. While PMI and industrial production indicators

have improved, we believe it may take a few more weeks/months before those trends

translate into stronger freight volumes. 4 Page Document

Pricing remains constructive, with recent renewals exceeding 6% and a new 5.9% General