ArcBest Corp. (NASDAQ:ARCB) shares fell Wednesday following the company’s third-quarter 2025 results, which beat analyst expectations on both adjusted earnings and revenue.

Adjusted EPS was $1.46, topping the $1.37 estimate, while sales reached $1.048 billion, exceeding the $1.038 billion forecast.

GAAP EPS was $1.72, compared with $4.23 a year earlier, which included a one-time $69.1 million after-tax benefit from the MoLo acquisition.

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Net income from continuing operations was $39.3 million, compared with $100.3 million in the same period last year. On a non-GAAP basis, net income was $33.4 million, versus $38.8 million in the prior year.

In the Asset-Based segment, revenue rose to $726.5 million from $709.7 million, with tonnage per day up 2.3% and shipments per day up 4.3%.

Billed revenue per hundredweight decreased 1.1%. Operating income was $70.2 million, with an operating ratio of 90.3%, including $15.9 million in asset sale gains.

Excluding those gains, non-GAAP operating income was $54.4 million, with an operating ratio of 92.5%. Customer contract renewals and ...