ArcBest Corp. of Fort Smith reported Tuesday record revenue and income for the fourth quarter of fiscal 2021.
The company said revenue was $1.19 billion for the quarter, up from $816.4 million in the same quarter a year ago. Quarterly income was $65.5 million, up from $23.9 million, and earnings per share was $2.47. Up from 89 cents.
For the fiscal year, ArcBest reported revenue of $3.9 billion, up from $2.9 billion in 2020. Fiscal income was $213.5 million, up from $71.1 million, and earnings per share was $7.98, up from $2.69.
ArcBest said the revenue and income figures were company records for both the quarter and the fiscal year.
“2021 was a year of immense challenges — from the ongoing pandemic to extreme supply chain pressures – but our team stayed focused on our strategic initiatives and consistently exceeded expectations,” ArcBest CEO Judy McReynolds said. “We are making smart investments across our business to advance our strategic vision and adapt to the rapidly evolving market environment, all while being true advisors to our customers.”
The company’s asset-based division reported quarterly revenue of $683.5 million, up from $554.4 million, and operating income of $83.1 million, up from $27.9 million. For the fiscal year, revenue was $2.6 billion, up from $2.1 billion, and operating income was $260.7 million, up from $98.9 million.
ArcBest reported the division saw a 1.5% increase in number of shipments for the quarter and 3.9% for the fiscal year. Revenue per shipment saw a big jump, though; for the quarter, revenue per shipment was $557.49, up from $458.71, and it was $522.85 for the fiscal year, up from $441.73.
The company’s logistics segment, ArcBest, reported quarterly revenue of $472.3 million, up from $245.6 million, and operating income of $12.8 million, up from $4.9 million. For the fiscal year, it reported revenue of $1.3 billion, up from $779.1 million, and operating income of $46.4 million, up from $9.7 million.
FleetNet, the company’s maintenance division, reported quarterly revenue of $68.9 million, up from $55.6 million, and operating income of $1.1 million, up from $558,000. For the fiscal year, revenue was $254.1 million, up from $205 million, and operating income was $4.5 million, up from $3.4 million.
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