ArcBest Corporation (NASDAQ:ARCB) Q3 2023 Earnings Call Transcript

David Humphrey: Frank, I think we’ve got time for one more question.

Operator: Our next question comes from Bruce Chan with Stifel. Please proceed.

Andrew Cox: Hey, good morning team. This is Andrew Cox on for Bruce. Thanks for taking my questions. Just wanted to ask about how you guys are thinking about the portfolio of businesses and services? What still might be missing from the portfolio and where do you guys see opportunities to add services or breadth? And should we expect the current revenue mix between asset and asset-light to hold for the next few years? Or are you expecting some sort of change? Thank you.

Dennis Anderson: Hey, Andrew, this is Dennis. Great question. We really like the mix of capabilities that we have right now. I mean, I think we have talked in previous quarters about and talked on this call about our managed business and really leaning into that. We expect growth out of truckload and certainly, growth out of asset base as well. So, we like the mix that we bring to customers today. And certainly, investment in those areas are where we are focused, and then your other question about how we should expect the mix to evolve over time, we expect that mix really over a long period of time to look more like our customers spend. And so when you think about the size of these markets and how customers spend on freight and transportation, we expect that, we are going to continue to grow the mix toward that asset-light business even as asset-based grows.

So, that’s what I would say about. We are happy about the capability set we have. And then, we expect on a long trajectory really to start looking more and more like the market spend.

David Humphrey: Well, thank you. I think this concludes our call. We appreciate you joining us. Thank you very much.

Operator: That does conclude the conference call for today. We thank you for your participation and ask that you please disconnect your line. Have a great day, everyone.