ArcBest Corporation (NASDAQ:ARCB) Q2 2023 Earnings Call Transcript

Dennis Anderson: Sure Matt, and hey, Bruce, this is Dennis. Yeah, absolutely. M&A is part of the capital allocation strategy here. And as we’ve talked, really, we’re looking for great generally asset light, business, and things that helped help us grow with our customers. And, we’ve talked about, different areas, I wouldn’t necessarily say it’s directly truckload brokerage. We’ve got a great truckload brokerage operation now in MoLo, but things like manage transportation. We’ve talked about that before. That could really help us deepen those partnerships with customers is really a focus there on the M&A front these days.

Bruce Chan: Okay, that’s great. Appreciate it.

David Humphrey: And Jack, back in queue. Jack?

Bruce Chan: Okay, great. Great. Yeah, just I guess maybe, just to kind of round it out, no one’s asked about the asset light business. And, I know a lot of attentions on what’s going on in the LTL world for obvious reasons. But you guys did make some good progress on the quarter taking cost out of the business within the asset light segment. Just sort of curious if there’s maybe some more to go there? How we should maybe be thinking about the profitability trajectory there, over the back half of the year barring some sort of inflection in the freight market one way or the other.

Steven Leonard : Yeah, hi, Jack, this is Steven. The way we operate there, we’re really just trying to manage our cost. In line with the business that we have, we all know, the, the market is challenging right now, from a price perspective. And so, we — a lot of the indicators that we look at, we feel like we’re at or near the bottom, but, when it will turn is still uncertain. And so we’re just — we’re focused on again, kind of just managing the cost, along with business lines, nothing major there. But we want to make sure that we keep everything in a good place from that aspect in terms of managing costs, but at the same time, we want to be in a position to grow when the market does turn. And we know that’s going to happen. It’s just a matter of when.

Bruce Chan: Makes sense? Thank you.

Judy McReynolds: Thanks.

David Humphrey : Okay. Well, I believe that’s the last question we’ve got, Dana. Thank you for your help. And we want to just thank everybody for the interest in ArcBest. So, that concludes our conference call. Thank you a lot.

Operator: That does conclude the conference call for today. We thank you for your participation and ask that you please disconnect your lines.