- ArcBest's tonnage was 5.2% lower year over year in July and is down 6% so far in August.
- Carrier SAIA reported a 13% year-over-year increase in shipments for the first two weeks of August.
- Diesel prices are down 21% year over year so far in the quarter but up 11% in August from July.
Following Yellow's troubles, LTL carrier ArcBest has been taking on customers, raising their shipments up to 20,000 per day. The company had been facing a decline in revenue year-over-year, down 2% in August following an 11.3% decline in July. Upon the intake of new customers, daily revenue went up 2% this quarter, sequentially following a 13% yield.
They are predicting a $10 million to $15 million sequential decline in adjusted operating income, implying an operating loss from the $6.4 million in income booked in the second quarter.
