Start Your Free Trial of
- News & Analysis
- Event Tickets & Nominations
ArcBest Corp. of Fort Smith will celebrate its 100th anniversary next year.
Year 99 has been pretty good for ArcBest. The transportation company will soon announce the culmination of another record revenue year when it announces its fiscal 2022 earnings in February.
The company is expected to easily surpass its goal of $5 billion in revenue, breaking the record of $3.9 billion it set a year ago. In fact, the company has already broken the record after reporting revenue of $4.1 billion for the first nine months of 2022.
“That really is a scoreboard item for us,” said Dennis Anderson, ArcBest’s chief customer officer. “What we accomplished in 2022 was about helping customers move through supply chain challenges.”
Judy McReynolds, the company’s CEO, president and chairman, has said ArcBest’s goal is to surpass $7 billion in revenue in fiscal 2025. McReynolds was the ABOY Executive of the Year after her company’s then-record-breaking year in 2021.
“We see continued growth here, and we’re working to achieve that,” Anderson said. “We have only just begun.”
Diversification has been the key to ArcBest’s success in recent years. When McReynolds took over in 2010, she immediately set a course to add more logistics and brokerage services to ArcBest’s arsenal.
A year ago, ArcBest closed on a $235 million acquisition of the brokerage firm MoLo Solutions LLC of Chicago. It was a shrewd investment: MoLo has helped ArcBest’s asset-light division nearly double its revenue to $2 billion so far in 2022.
Anderson said ArcBest’s success isn’t just about the financial numbers. The company improved the benefits package for its more than 14,000 employees through vacation and sick leave and maternity leave.
The company also launched an employee learning platform. “When we talk about growth at ArcBest, we think about growing our people to grow our business,” Anderson said. “That was a pretty major part of 2022.”
The company will continue to make investments in technology and innovation to the tune of $150 million, Anderson said.
“We are celebrating our 100th year anniversary pretty much all year,” Anderson said. “The theme is the ‘Heart of 100.’ Our people are the heart of our success and they will be going forward.”