ARCBEST CORP /DE/ (ARCB) Business

ITEM 1.BUSINESS

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ArcBest Corporation

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ArcBest Corporation™ (together with its subsidiaries, the “Company,” “ArcBest,” “we,” “us,” and “our”) is a multibillion-dollar integrated logistics company that leverages technology and a full suite of solutions across multiple modes of transportation to meet our customers’ supply chain needs. We serve as a single end-to-end logistics partner with global reach. Through our integrated approach and customer-led mindset, combined with our technology, expertise, and scale, we ensure our customers have the right solutions and capacity to meet their evolving supply chain needs.

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The Company, which was incorporated in Delaware in 1966 and is headquartered in Fort Smith, Arkansas, started over a century ago as a local Arkansas freight hauler. Today, as a result of organic growth, strategic acquisitions, and visionary leadership, we are a logistics powerhouse with 14,000 employees across nearly 250 campuses and service centers. Our customers are at the center of our strategy. Through meaningful investments in strategic initiatives and a strong emphasis on disruptive technology and advanced analytics, we deliver customized solutions that are diverse and flexible enough to meet our customers’ needs.

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Business Description

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As an integrated logistics company, ArcBest is growth-oriented and digitally enabled to deliver reliable, innovative solutions through a variety of ground, air, and ocean transportation solutions, including our less-than-truckload (“LTL”) carrier – ABF Freight®, our truckload service – MoLo Solutions, LLC® (“MoLo”), our managed transportation solutions, and our ground expedite fleet – Panther Premium Logistics® (“Panther”). Through our managed transportation solutions, we partner with customers to create and execute logistics strategies that increase operational efficiencies, reduce costs, and give customers better insights into their supply chains. We also offer household goods moving through U-Pack®. Our technology and innovation team provides custom-built solutions, leading-edge technology, and advanced analytics that help support our customers and optimize supply chains.

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Our operations are conducted through our two reportable operating segments, which are described further in the Asset-Based Segment and Asset-Light Segment sections below:

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With a relentless focus on customer needs and unique access to assured transportation capacity, which includes more than 40,000 owned and operated assets, we create solutions for even the most complex and demanding supply chains. We strive to help customers solve their logistics challenges by efficiently providing a best-in-class experience with easy access to our integrated solutions.

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For the year ended December 31, 2025, no single customer accounted for more than 3% of our consolidated revenues, and the ten largest customers, on a combined basis, accounted for approximately 14% of our consolidated revenues.

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Mission, Vision and Values

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Our mission is to connect and positively impact the world through solving logistics challenges. Our vision is to be the leading logistics partner and innovator, working with customers to build better supply chains across the globe. “We’ll Find a Way” is our motto. With a proven track record, our customers say that we’re the kind of company that partners with them to solve problems and make things happen. Our integrated logistics approach and innovative technology enable our

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vision, but it’s our people who ensure our customers’ solutions and capacity needs are met. We support our employees by providing a workplace where people can grow and make a lasting impact.

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We carry out our mission and vision by exemplifying our corporate values:

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Strategy

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Our customer-led strategy is to drive long-term value by delivering a premium experience and growing informed, trusted and innovative relationships. This value is produced by focusing on three key components — accelerating profitable growth, increasing efficiency, and driving innovation.

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We build long-term value for our customers, employees and shareholders by:

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We relentlessly pursue quality as it is central to customer satisfaction, reliability of our solutions, and performance across the global supply chain in which we operate. 2024 marked 40 years of our Quality Process, which empowers employees to solve problems creatively and collaboratively using a proven 5-step problem solving method. The process includes defining and quickly fixing the problem, identifying the root cause, taking corrective action, and following up until the issue is resolved. In 2025, we received “Quest for Quality” awards from Logistics Management in the category of Household Goods & High Value Goods for the fourth time, in the National LTL Carriers category for the ninth time, and in the Expedited Motor Carrier category for the second time.

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Asset-Based Segment

Our Asset-Based segment provides LTL services through the motor carrier operations of ABF Freight. Asset-Based revenues accounted for approximately 66% of our total revenues before other revenues and intercompany eliminations in 2025. For the year ended December 31, 2025, no single customer accounted for more than 4% of revenues in the Asset‑Based segment, and the segment’s ten largest customers, on a combined basis, accounted for approximately 17% of its revenues. Note M to our consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K contains additional segment financial information, including revenues and operating income for the years ended December 31, 2025, 2024, and 2023.

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ABF Freight has been in continuous service since 1923 and is one of North America’s largest LTL motor carriers, providing direct service to more than 99% of U.S. cities with a population of 30,000 or more. ABF Freight offers interstate and intrastate services to approximately 51,000 communities in all 50 states, Canada, and Puerto Rico through 239 service centers. ABF Freight also provides motor carrier freight transportation services to customers in Mexico through arrangements with trucking companies in Mexico.

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Our Asset-Based segment offers transportation of general commodities through standard, time-critical, and guaranteed LTL services. General commodities include all freight except hazardous waste, dangerous explosives, commodities of exceptionally high value, commodities in bulk, and those requiring special equipment. Shipments of general commodities

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differ from shipments of bulk raw materials, commonly transported by railroad, truckload tank car, pipeline, and water carrier. General commodities transported by our Asset-Based operations include, among other things, food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.

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The LTL transportation industry, which requires networks of local pickup and delivery service centers combined with larger distribution facilities, is significantly more infrastructure-intensive than truckload operations and, as such, has higher barriers to entry. Costs associated with an expansive LTL network, including investments in or costs associated with real estate and labor costs related to local pickup, delivery, and cross-docking of shipments, are primarily fixed unless service levels are significantly changed.

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Labor costs, which amounted to 52.2% of Asset-Based revenues for 2025, are the largest component of the segment’s operating expenses. As of December 2025, approximately 81% of the Asset-Based segment’s employees were covered under a collective bargaining agreement, the ABF National Master Freight Agreement (the “2023 ABF NMFA”), with the International Brotherhood of Teamsters (the “IBT”), which was ratified on June 30, 2023 by a majority of ABF Freight’s IBT member employees. A majority of the 2023 ABF NMFA supplements also passed. The remaining supplements were ratified on July 7, 2023. The 2023 ABF NMFA was implemented on July 16, 2023, effective retroactive to July 1, 2023, and will remain in effect through June 30, 2028. The major economic provisions of the 2023 ABF NMFA include wage rate or per mile increases in each year of the contract, with the initial increase effective retroactive to July 1, 2023, and profit-sharing bonuses upon the Asset-Based segment’s achievement of certain annual operating ratios for any full calendar year under the contract. The 2023 ABF NMFA and the related supplemental agreements also provide for annual contribution rate increases to multiemployer health and welfare and pension plans maintained for the benefit of ABF Freight’s employees who are members of the IBT. Under the 2023 ABF NMFA, the contractual wage and benefits top hourly rates are estimated to increase approximately 4.2% on a compounded annual basis through the end of the agreement, with potential profit-sharing bonuses representing additional costs under the 2023 ABF NMFA. The profit-sharing bonus under the 2023 ABF NMFA was not achieved for the year ended December 31, 2025. A 1% profit-sharing bonus was earned for the year ended December 31, 2024, as an operating ratio eligible for a payout was achieved. The bonus was not applicable in 2023 during the partial calendar year of the 2023 agreement.

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ABF Freight contributes to multiemployer pension and health and welfare plans to provide benefits for its contractual employees. Through the term of its current collective bargaining agreement, ABF Freight’s multiemployer pension plan contribution obligations generally will be satisfied by making the specified contributions when due. However, we cannot determine with any certainty the contributions that will be required under future collective bargaining agreements for ABF Freight’s contractual employees. See Note I to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K for more information regarding the multiemployer pension plans to which ABF Freight contributes and a discussion of legislation impacting funding for multiemployer pension plans.

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ABF Freight operates in a highly competitive industry comprised primarily of nonunion motor carriers. Nonunion competitors have a lower fringe benefit cost structure and less stringent labor work rules, and certain carriers also have lower wage rates for their freight-handling and driving personnel. ABF Freight has continued to address the effect of the wage and benefit cost structure on its operating results with the IBT. Under the 2023 ABF NMFA, ABF Freight continues to pay some of the highest benefit contribution rates in the industry and through this contract, ABF Freight is allowed to implement location-specific wage increases in areas where hiring has been challenging. Due to the joint and several liability of multiemployer plans, a portion of ABF Freight’s multiemployer plan contributions are used to fund benefits for individuals who have never been employed by ABF Freight.

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Asset-Light Segment

Our Asset-Light segment is a key component of our strategy to offer customers a single source of integrated logistics solutions, designed to satisfy complex supply chain needs and unique shipping requirements, particularly through our growing managed transportation solutions. By leveraging technology and third-party service providers, our Asset-Light team provides various logistics services without significant investment in revenue equipment or real estate.

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The revenues of our Asset-Light segment accounted for approximately 34% of our total revenues before other revenues and intercompany eliminations in 2025. For the year ended December 31, 2025, no single customer accounted for more than 5% of the Asset-Light segment’s revenues, and the segment’s ten largest customers, on a combined basis, accounted for approximately 18% of its revenues. Note M to our consolidated financial statements included in Part II, Item 8 of this

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Annual Report on Form 10-K contains additional segment financial information, including revenues and operating income for the years ended December 31, 2025, 2024, and 2023.

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Our Asset-Light segment originated with the formation of ABF Logistics in 2013, when we aligned the sales and operations functions of our organically developed logistics businesses. Management’s operating decisions are focused on the Asset‑Light segment’s combined operations rather than individual service offerings within the segment’s operations.

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Truckload

Our truckload service, including MoLo, provides third-party transportation brokerage services by sourcing various capacity solutions, including dry van over-the-road, temperature-controlled and refrigerated, flatbed, intermodal or container shipping, and specialized equipment, coupled with strong technology and carrier- and customer-based Web tools. Through our truckload service, we offer a network of more than 70,000 approved contract carriers, with service to all 50 states, Canada, and Mexico. Additional value is created for customers through seamless access to the ABF Freight network.

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Managed Transportation

Through our managed transportation solution, we partner with customers to increase operational efficiencies, reduce costs, and give better insight into supply chains by providing customized solutions using technology and our knowledge and expertise. Additional value is created for customers through seamless access to our ABF Freight network, our Panther fleet, and our MoLo truckload brokerage operations, offering strategic supply chain solutions with unique access to assured capacity.

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Expedite

Leveraging our best-in-class Panther fleet, we offer expedite freight transportation services to commercial and government customers. We also offer premium logistics services that involve the rapid deployment of highly specialized equipment to meet precise linehaul requirements, such as temperature control, hazardous materials, geofencing (routing a shipment across a mandatory, defined route with satellite monitoring and automated alerts concerning any deviation from the route), specialized government cargo, security services, and life sciences.

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We rely on third-party carriers for most of the network capacity for our expedite operations, including owner-operators, ground linehaul providers, cartage agents, and other transportation asset providers. We choose carriers based on how well they can meet our customers’ needs in terms of price, technology capabilities, geographic coverage, and service quality. Third party-owned vehicles are driven by independent contract drivers and drivers engaged directly by independent owners of multiple pieces of equipment, commonly referred to as fleet owners. Our expedite operations own a fleet of trailers, the communication devices used by its owner-operators, and certain highly specialized equipment, primarily temperature-controlled and temperature-validated trailers to meet the service requirements of certain customers.

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International

Our international shipping and logistics services provide global ocean and air shipping solutions by partnering with ocean shipping lines and air freight carriers worldwide, as well as ground transportation to and from ports. As a non-vessel operating common carrier, we provide ocean transportation to and from the United States, covering approximately 90% of the total ocean international less-than-container load market and approximately 80% of the full container load import market. We also offer warehousing and distribution services to and from major global ports to streamline our customers’ ocean shipping processes.

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Moving

Under the U-Pack brand, our household moving services offer flexibility and convenience for how people move through targeted service offerings for the “do-it-yourself” consumer. We offer these targeted services at competitive prices that reflect the additional value customers find in our convenient, reliable moving service offerings. The majority of the moves are provided using trailers and containers transported by ABF Freight.

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Other Logistics Services

We also provide other services to meet our customers’ logistics needs, such as final mile, time-critical, product launch, warehousing and distribution, retail logistics, supply chain optimization, brokered LTL, and trade show shipping services. Our Retail+ compliance solution is designed to help vendors better meet large retailers’ stringent shipping and delivery requirements by combining innovative software solutions with enhanced operations processes.

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Competition, Pricing, and Industry Factors

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Competition

Our Asset-Based segment actively competes for freight business with other national, regional, and local motor carriers and, to a lesser extent, with private carriage, domestic and international freight forwarders, railroads, and airlines. The segment competes most directly with nonunion and union LTL carriers, including FedEx Freight Corporation, the LTL reporting segment of FedEx Corporation; the LTL segment of Knight-Swift Transportation Holdings Inc.; Old Dominion Freight Line, Inc.; Saia, Inc.; the U.S. LTL operating segment of TFI International Inc.; and the North American LTL segment of XPO, Inc. Our Asset-Based segment’s U-Pack business also competes with self-move businesses that offer moving and storage container services. Competition is based primarily on price, service, and availability of flexible shipping options to customers. The Asset-Based segment’s careful cargo handling, access to other ArcBest logistics solutions, and use of technology, both internally to manage its business processes and externally to provide shipment visibility to its customers, are examples of how we add value to our services.

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Our Asset-Light segment operates in a very competitive asset-light logistics market that includes approximately 27,500 active brokerage authorities, as well as asset-based truckload carriers; logistics companies, including large and small expedite carriers; foreign and U.S.-based non-vessel-operating common carriers; freight forwarders; internal shipping departments at companies that have substantial transportation requirements; smaller niche service providers; and a wide variety of other solution providers, including large integrated transportation companies as well as regional warehouse and transportation management firms. The segment competes most directly with logistics companies, including the North American Surface Transportation segment of C.H. Robinson Worldwide, Inc.; Covenant Logistics Group, Inc.; Hub Group, Inc.; the Integrated Capacity Solutions segment of J.B. Hunt Transport Services, Inc.; the Logistics segment of Knight-Swift Transportation Holdings Inc.; Landstar System, Inc.; the truck brokerage and complementary service offerings of RXO, Inc.; the Freight segment of Uber Technologies, Inc.; and the truckload service offering of Total Quality Logistics. Our Asset-Light segment’s moving services compete with truck rental, self-move, and van line service providers, and several emerging self-move competitors who offer moving and storage container service. Quality of service, technological capabilities, and industry expertise are critical differentiators among the competition. In particular, companies with advanced systems that offer optimized shipping solutions, reliable access to capacity, real-time visibility of shipments, verification of chain of custody procedures, and advanced security have significant operational advantages and create enhanced customer value.

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Pricing

Approximately 17% of our Asset-Based business is subject to base LTL tariffs, which are affected by general rate increases, subject to individually negotiated discounts. Rates on the remaining Asset-Based business, including business priced in the spot market, are subject to individual pricing arrangements negotiated at various times throughout the year. Most of the business that is subject to negotiated pricing arrangements is associated with larger customer accounts with annual agreements. The remaining business is priced on an individual shipment basis considering shipment characteristics, network capacity, and current market conditions.

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We allow shippers without negotiated published rates to obtain LTL rates for their shipping needs with ABF Freight’s reliable service and capacity options through a dynamic pricing option. This innovative pricing mechanism enables customers to instantly access LTL rates online, by phone, or through application programming interface (“API”) technology for shipments within the United States, Canadian cross-border, Mexico, and Puerto Rico.

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Space-based pricing is utilized for shipments subject to LTL tariffs to better reflect capacity consumed and freight shipping trends, including the overall growth and ongoing profile shift to bulkier shipments across the entire supply chain, the acceleration in e-commerce, and the unique requirements of many shipping and logistics solutions, such as accommodating the growing demand for smaller LTL shipments. We are experienced in handling complicated freight and offer logistics solutions for our customers’ unique shipment needs. An increasing percentage of freight is taking up more space in trailers without a corresponding increase in weight. Traditional LTL pricing was generally weight-based until the shift to density‑based classification beginning in the second half of 2025 following framework changes by the National Motor Freight Traffic Association, Inc. Our linehaul costs are generally space-based (i.e., costs are impacted by the volume of space required for each shipment). Space-based pricing involves the use of freight dimensions (length, width, and height) to determine applicable cubic minimum charges (“CMC”) that supplement weight-based metrics when appropriate. Space-based pricing better aligns our pricing mechanisms with the metrics affecting our resources and, therefore, our costs to provide logistics services. CMC is an additional pricing mechanism to better capture the value we provide in transporting these shipments.

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Our Asset-Light segment primarily provides logistics services through the use of third-party vendors. We offer competitive pricing on these services based on market conditions, lane characteristics, equipment type, and service requirements, including through contractual arrangements and spot rates. Our international pricing is mode-dependent, influenced by capacity, fuel, port congestion, geopolitical events, and carrier alliances.

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Our Asset-Based and certain operations within our Asset-Light segment assess a fuel surcharge based on the index of national on-highway average diesel fuel prices published weekly by the U.S. Department of Energy. While the fuel surcharge is one of several components in our overall rate structure, the actual rate paid by customers is governed by market forces and the overall value of services provided to the customer.

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Industry Factors

According to management’s estimates, and market studies by Armstrong & Associates, Inc. and the U.S. Department of Commerce during 2025, the total market potential in the industry segments we serve is approximately $400 billion. The LTL industry has significant capital and operational barriers to entry and is highly competitive, as previously discussed in “Asset-Based Segment” within this Business section. Although our Asset-Light market share currently represents a small portion of the total addressable market, it presents a significant growth opportunity for us. More sophisticated supply chain practices are required as supply chains expand and become more complex, product and service needs continue to evolve, and companies look for solutions to their logistics challenges and lower-cost supply chain alternatives.

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The transportation industry is subject to numerous laws, rules, and regulations, as further discussed below within “Environmental and Other Government Regulations,” and carriers and brokers are required to obtain and maintain various licenses and permits, some of which are difficult to obtain. The trucking industry faces rising costs of compliance with government regulations on safety, equipment design and maintenance, driver utilization, sustainability, and fuel economy, as well as increasing costs in certain areas that are not industry-specific, including health care and retirement benefits. Higher compliance costs will continue to impair the competitiveness of smaller carriers in the logistics market, which may lead to tighter capacity or consolidation within certain sectors. In addition, disruptions from unexpected events such as natural disasters and geopolitical conflicts could result in further utilization of expedited shipping and premium logistics services and cause companies to focus on risk management within their supply chains.

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Seasonality

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Our reportable operating segments are impacted by seasonal fluctuations that affect tonnage, shipment levels, and demand for our services, which in turn may impact our revenues and operating results. Inclement weather conditions can adversely affect freight shipments and operating costs of our Asset-Based and Asset-Light segments. Shipments may decline during winter months because of post-holiday slowdowns and during summer months due to plant shutdowns affecting automotive and manufacturing customers of our Asset-Light segment; however, weather or other disruptive events can result in higher short-term demand for expedite services depending on the impact to customers’ supply chains.

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Historically, the second and third calendar quarters of each year usually have the highest tonnage and shipment levels. In contrast, the first quarter generally has the lowest tonnage and shipment levels, although other factors, including the state of the U.S. and global economies; available capacity in the market; yield initiatives; and external events or conditions, such as the modification or implementation of new tariffs or trade policy, may influence quarterly business levels. Our yield initiatives, along with increased technology-driven intelligence and visibility with respect to demand, have allowed for shipment optimization in non-peak times, reducing our susceptibility to seasonal fluctuations in recent years, including during the years ended December 31, 2025, 2024, and 2023.

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Technology

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Rooted in a strong history of innovation, technology is a significant driver of our strategy — it differentiates us in the marketplace and allows us to continuously evolve. Much of the technology used at ArcBest has been developed internally and is tailored specifically to customers, capacity suppliers, and internal business processing needs. Through the implementation of custom-built solutions and leading-edge technologies, we enable our customers to successfully navigate the complex logistics landscape so they can use their supply chain as a competitive advantage.

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During 2025, we made additional technology investments to improve both customer experience and carrier capacity experience while continuing to optimize costs. Some examples include:

In 2025, our Vaux suite was named the “2025 Material Handling Solution of the Year” by SupplyTech Breakthrough.

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Typically, freight transportation customers communicate their freight needs on a shipment-by-shipment basis through telephone, email, web, mobile applications, electronic data interchange (“EDI”), or API. In our Asset-Light segment, shipment details are entered into an operating system that helps facilitate the selection of a contracted carrier or carriers based on service capability, equipment availability, freight rates, and other factors. Once a carrier is chosen, the transportation cost is agreed upon, and the carrier commits to providing transportation, we track the status of the shipment from origin to delivery. Tracking updates flow automatically into our fully integrated software, which provides customers with real-time electronic shipment status updates.

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We make information readily accessible to our customers through various electronic pricing, billing, and tracking services, including mobile-responsive websites that allow customers to access information about their shipments, request shipment pickup, and utilize various other digital tools. Online functions tailored to customer needs include bill of lading generation, pickup planning, customer-specific price quotes, proactive tracking, email notification, logistics reporting, dynamic rerouting, and other connectivity tools. This technology also enables customers to integrate data from our systems directly into their own websites, transportation management systems, or other information systems using EDI standards and secure API connections, allowing them to provide shipping information and support seamlessly to their own customers.

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ArcBest’s Innovation Ambassador Program encourages employees to share transformative ideas. A cross-functional team works closely with executive leadership to identify opportunities for disruptive innovation and evaluate potential external innovation partners. In 2025, ArcBest Technologies hosted its sixth annual Imagine competition. This year’s theme, Automate to Accelerate, challenged employees to explore how AI can streamline tasks, reduce errors, and unlock human creativity – helping ArcBest to better serve our customers, innovate faster, and collaborate more effectively.

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Insurance

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Generally, claims exposure in the freight transportation and logistics industry consists of workers’ compensation, third-party casualty liability, and cargo loss and damage. We maintain insurance that we believe is adequate to cover losses in excess of self-insured amounts or deductibles. However, we cannot provide assurance that the limit of our insurance coverage will provide adequate protection under all circumstances or against all potential losses. We pay assessments and fees to state guaranty funds in states where we have workers’ compensation self-insurance authority. In some of these states, depending on the specific state’s rules, the guaranty funds may pay excess claims if the insurer cannot pay due to insolvency. However, there can be no certainty of the solvency of individual state guaranty funds.

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We have been able to obtain what we believe to be adequate insurance coverage for 2026 and are not aware of any matters which would significantly impair our ability to obtain adequate insurance coverage at market rates for our operations in the foreseeable future. A significant increase in the frequency or severity of accidents, cargo claims, or workers’ compensation claims or the significant unfavorable development of existing claims could have a material adverse effect on our cost of insurance and results of operations in the future.

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We also maintain property and cyber insurance which would offset losses up to certain coverage limits in the event of a catastrophe or certain cyber incidents, including certain business interruption events related to these incidents; however, losses arising from a catastrophe or significant cyber incident may exceed our insurance coverage and could have a material adverse impact on our results of operations and financial condition. We do not have insurance coverage specific to losses resulting from a pandemic or geopolitical conflict.

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Environmental and Other Government Regulations

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Various international, federal, state, and local agencies exercise broad regulatory powers over the transportation industry, generally governing activities of motor carriers, freight transportation brokers, freight forwarders, non-vessel operating common carriers, ocean freight forwarders and other ocean transportation intermediaries, and indirect air carriers. These regulations include safety, contract compliance, insurance and bonding requirements, tariff and trade policies, customs, import and export, food safety, employment practices, licensing and registration, taxation, environmental matters, data privacy and security, and financial reporting. Compliance with future modifications to the regulations impacting the transportation industry may impact our operating practices and costs, which could have a material adverse impact on our financial condition, results of operations, and cash flows. Other logistics companies would be similarly affected by changes in industry regulations.

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Environmental Regulations

We are subject to federal, state, and local environmental laws and regulations relating to, among other things, emissions control, transportation or handling of hazardous materials, underground and aboveground storage tanks, stormwater pollution prevention, contingency planning for spills of petroleum products, and disposal of waste oil.

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In 2016, the U.S. Environmental Protection Agency (the “EPA”) and the National Highway Traffic Safety Administration (the “NHTSA”) jointly finalized a national program establishing a second phase of greenhouse gas (“GHG”) emissions regulations (“EPA/NHTSA Phase 2”), through their authorities under the Clean Air Act, as amended, imposing new fuel efficiency standards for medium- and heavy-duty vehicles and engines, such as those operated by our Asset-Based segment, for model years 2021-2027 and also instituting fuel efficiency improvement technology requirements for trailer model years 2018-2027. In 2024, the EPA finalized a rule for a third phase of the GHG emissions regulations (“EPA/NHTSA Phase 3”), which includes more stringent standards to reduce GHG emissions from heavy-duty vehicles beginning with model year 2027 beyond the current standards applicable under the EPA/NHTSA Phase 2. Similarly, in 2024, the EPA finalized more ambitious emissions reduction standards for light- and medium-duty vehicles starting with model year 2027. In 2025, the EPA announced a deregulatory plan which includes rolling back parts of EPA/NHTSA Phase 3.

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In 2018, the EPA launched the “Cleaner Trucks Initiative” (the “CTI”) which includes plans for future rulemaking to reduce nitrogen oxide emissions. In 2021, the EPA announced the “Clean Truck Plan,” a series of rulemakings, the third and final of which was announced in 2024, to set new emissions standards to reduce nitrogen oxide emissions from heavy‑duty vehicles beginning with model year 2027. The Clean Truck Plan takes into consideration the Inflation Reduction Act of 2022 which sought greater application of zero-emission vehicle technologies. However, the previously

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mentioned deregulatory plan announced by the EPA in 2025 effectively slowed or reversed parts of the CTI, particularly around GHG standards and nitrogen oxide emissions for heavy-duty trucks.

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Certain states have individually enacted and may continue to enact legislation relating to engine emissions, trailer regulations, fuel economy, fuel formulation and other environmental-related regulations. In 2019, the state of California signed legislation directing the California Air Resources Board (the “CARB”) and other state agencies to develop and implement a comprehensive inspection and maintenance program for heavy-duty vehicles. Legislation, now known as the Clean Truck Check Program, combines periodic vehicle testing requirements with other emissions monitoring techniques, in an effort to provide significant reductions in pollution necessary to achieve federal air quality mandates in California. The program requirements also include annual compliance reporting for self-propelled vehicles registered for on-road use, along with annual per vehicle compliance fees which began in 2024.

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In 2023, the state of California signed legislation under the Climate Corporate Data Accountability Act requiring reporting of direct and indirect GHG emissions starting in 2026 and 2027 for U.S. companies with annual revenues of $1 billion or more doing business in the state of California and under the Greenhouse Gases: Climate-Related Financial Risk Act requiring companies generating $500 million or more in total annual revenue doing business in the state of California to report financial risks related to climate change and related plans for risk mitigation. In 2024, the Climate Corporate Data Accountability Act and the Climate-Related Financial Risk Act were amended through the Greenhouse Gases: Climate Corporate Accountability: Climate-Related Financial Risk Act, which requires CARB to specify a schedule for reporting of scope 3 indirect emissions and eliminates the annual fee to the state of California upon filing climate-related disclosures required under the initial acts. In 2024, CARB released an enforcement notice related to the Climate Corporate Data Accountability Act that encouraged entities to move towards full compliance as quickly as possible while also acknowledging that meeting the statutory deadlines would be difficult and indicating that companies should demonstrate a good faith effort to retain the required emissions data necessary for reporting. In November 2025, the first reporting deadline under the Climate Corporate Data Accountability Act was shifted to August 2026. Also in November 2025, the Ninth Circuit Court of Appeals issued an injunction halting the enforcement of the Climate-Related Financial Risk Act, including the first risk disclosure deadline of January 1, 2026, pending appeal.

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While fuel consumption and emissions may be reduced under the new standards, emission-related regulatory actions have historically increased costs of revenue equipment, diesel fuel, and equipment maintenance, and future legislation, if enacted, could result in increases in these and other costs. The future of “cap and trade” programs or measures and the related potential costs is unknown. We are unable to determine with any certainty the effects of any future climate change legislation, and there can be no assurance that more restrictive regulations than those previously described will not be enacted.

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A portion of our Asset-Based facilities store fuel and oil in underground and above-ground tanks for use in tractors and trucks. Maintenance of our tanks is regulated by the EPA and, in most cases, by state agencies. Management believes we are in substantial compliance with all such regulations. The underground storage tanks are required to have leak detection systems, and we are not aware of any leaks from such tanks that could reasonably be expected to have a material adverse effect on our operating results. Notwithstanding current compliance, including under a consent decree with the EPA, as discussed below, we are subject to on-going environmental remediation obligations concerning historical underground storage tank releases, for which the resolutions are not expected to have a material adverse effect on our financial condition, results of operations, or cash flows.

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Certain of our Asset-Based service center facilities operate with no-exposure certifications or stormwater permits under the federal Clean Water Act (the “CWA”), as amended. The no-exposure certification and stormwater permits may require periodic facility inspections and monitoring and reporting of stormwater sampling results. Management believes we are in substantial compliance with all stormwater laws, maintenance, and standard operating procedures of such regulations, including the consent decree entered into on March 20, 2023.

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We have received notices from the EPA and others that we have been identified as a potentially responsible party under the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, or other federal or state environmental statutes, at several hazardous waste sites. After investigating our subsidiaries’ involvement in waste disposal or waste generation at such sites, we have either agreed to de minimis settlements or determined that our obligations, other than those specifically accrued with respect to such sites, would involve immaterial monetary liability, although there can be no assurance in this regard. It is anticipated that the resolution of our environmental matters could

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take place over several years. Our reserves for environmental compliance matters and cleanup costs are estimated based on management’s experience with similar environmental matters and testing performed at certain sites.

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Other Government Regulations

We operate in the United States and, for international transportation, from the United States, pursuant to federal operating authority granted by the U.S. Department of Transportation (the “DOT”) and the U.S. Federal Maritime Commission. In 2025, the International Maritime Organization (“IMO”) introduced stricter rules to reduce GHG emissions from ships, requiring vessel operators adopt cleaner fuels, improve vessel efficiency, and enhance emissions monitoring. While the IMO has delayed discussions for adopting these new rules until later in 2026, we will continue to monitor these framework requirements. Although we do not operate vessels, these framework requirements could impact the transportation cost paid by the customers of our ocean freight forwarding, non-vessel operating common carrier, and other ocean transportation intermediary services. Our operations are also subject to security regulations issued by the U.S. Department of Homeland Security, including regulations issued through the Transportation Security Administration.

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We operate under the Occupational Safety and Health Act of 1970 (the “OSH Act”). Under the OSH Act, ArcBest has a responsibility to provide employees with a safe workplace. This includes, but is not limited to, providing a workplace free from serious recognized hazards and ensuring employees have and use safe tools and equipment and properly maintain this equipment.

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Our Asset-Based operations and our Asset-Light segment’s network of third-party contract carriers must comply with industry regulations, including the electronic logging device mandate of the Federal Motor Carrier Safety Administration (the “FMCSA”) for interstate commercial trucks and hours of service, safety and fitness, and other regulations of the DOT, including requirements related to drug and alcohol testing. In 2025, the FMCSA issued several changes affecting commercial driver licensing (“CDL”) and qualification standards, including enhanced enforcement of the longstanding English-language proficiency (“ELP”) requirements for commercial motor vehicles, expanded verification procedures for non-U.S.-domiciled CDL holders and updated medical certification and physical qualification standards. FMCSA also began overhauling its Safety Measurement System methodology in 2025, aimed at improving how violations are weighted and displayed. We are subject to the hazardous materials regulations of the FMCSA for our transportation and arrangement for transportation of hazardous materials and explosives, as well as our disposal of hazardous waste.

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We provide transportation and logistics services to and from a number of international locations and are, therefore, subject to a wide variety of domestic and international laws and regulations, including export and import laws. We are also subject to compliance with the Foreign Corrupt Practices Act of 1977, as amended and hold Customs-Trade Partnership Against Terrorism status for businesses within our Asset-Based and Asset-Light segments.

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If we were to violate the government regulations under which we operate, we may be subject to substantial fines or penalties or our business operations could be restricted, which could have a material adverse impact on our financial condition, results of operations, and cash flows.

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Human Capital Resources

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Our people are at the heart of our success, and we provide a workplace that respects all cultures, perspectives, and experiences. As of December 2025, we had 14,000 employees, of which approximately 58% were members of labor unions. As previously described in the “Asset‑Based Segment” within this Business section, as of December 2025, approximately 81% of our Asset‑Based segment’s employees were covered under the 2023 ABF NMFA, the collective bargaining agreement with the IBT, which will remain in effect through June 30, 2028.

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Employee Attraction, Development, and Retention

Our business results and future growth opportunities depend on our ability to successfully manage our human capital resources, including attracting, developing, retaining, and upskilling our personnel. We strive to recruit people with the skills, experience, and potential needed for each role and maintain a culture of continuous growth and professional development. Intentional training and development plans support every stage of career progression, accelerating job mastery and preparing employees for future roles. A comprehensive learning program offers classroom, virtual, and web‑based training options. In 2025, ArcBest was recognized as a Training magazine Training APEX Award recipient for the sixteenth consecutive year.

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We also offer a tuition reimbursement program and partner with a private university to provide virtual classes for employees to further their education. In 2024, we introduced ArcBest’s Employee Dependent Scholarship Program awarding scholarships for the 2024-2025 school year and in 2025, awarded scholarships for the 2025-2026 school year.

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Performance management is supported by a customized system that incorporates goals setting and development planning to better position employees in their career paths. Career path visibility is provided through our job architecture framework, and employees participate in annual career conversations with their direct supervisor. A robust succession planning program ensures continuity in critical roles, while compensation and benefits packages are regularly evaluated for competitiveness, including insurance and retirement offerings. We offer an array of programs to support the four pillars of wellness for our employees – physical, financial, emotional/social, and developmental. Employee feedback is gathered through an annual survey and periodic pulse surveys to guide ongoing improvements.

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To attract and retain qualified truck drivers, we have developed initiatives to both recruit new drivers and upskill our existing workforce. One of our key programs is the Driver Development Program, a six-week paid training initiative that helps individuals earn their CDL-A license and launch their careers as professional drivers. Additionally, we host on-site hiring events at critical locations to connect with potential candidates. We continue to invest in programs designed to support the development and retention of qualified drivers, including veterans and military-connected individuals, ensuring that we meet the growing demand in the freight transportation industry. As a result of our efforts, ArcBest was named a 2025 Best for Vets Employer by Military Times.

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Belonging

We are dedicated to fostering an atmosphere where all cultures, perspectives and experiences are respected. This commitment is lived out by our people through our mission and values. Our belonging strategy is divided into four main areas — workforce, workplace, community, and marketplace. Our Corporate Social Responsibility team, which leads our belonging strategy, reports at least annually to the Nominating/Corporate Governance Committee of our Board of Directors. ArcBest earned a spot among Forbes Best Large Employers 2025 and America’s Best Employers for Company Culture 2025 lists and was named “America’s Best Employers for Women 2025”. The Company was also named to the “Elite 30” list of the 2025 Top Companies for Women to Work in Transportation by the Women in Trucking Association and listed as a “Best Company to Work For” by U.S. News & World Report in the transportation and logistics category. ArcBest also holds an A+ culture rating by employees via Comparably. This year, ArcBest was recognized in Comparably’s “Best Company Work-Life Balance,” “Happiest Employees,” “Best Leadership Teams,” and “Best Company Perks and Benefits” lists based on employee feedback. These distinctions consider factors such as quality of pay and benefits, culture and belonging, and development and advancement opportunities. In addition, we support our employees as they carry out our wellness value by participating in health-related workplace initiatives and wellness events, including those in their local communities.

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Our corporate Code of Conduct sets forth our general business conduct and ethical principles. Our nonunion employees are required to participate in annual Code of Conduct training, which also covers our anti-discrimination and anti‑harassment policies. Our new hires complete anti-harassment training, and workplace belonging training options are available to all employees.

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As a result of our efforts to create positive work experiences while ensuring our people feel supported in the workplace, we were also named as one of America’s “Most Responsible Companies of 2025” by Newsweek and Statista, demonstrating our commitment to being a responsible corporate citizen.

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Health, Safety, and Security

The health and well-being of our employees is a priority, and we have numerous programs to support our people in embracing total health. In addition to health benefits and voluntary insurance options, we also offer a wellness program through which employees may receive reduced premiums, deductibles, and out-of-pocket expenses for their insurance by completing certain preventative health requirements. We offer a digital health platform, life coaching services, behavioral health support, and a weight loss program, and we encourage healthy behavior throughout the year through regular communications, educational sessions, wellness challenges, and other incentives.

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Safety is critical to our business. We have safety procedures and guidelines, as well as required training and certification programs, for our drivers and freight-handling personnel to promote safety on and off the road. We also have safety

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measures and policies that apply to all independent contractors, owner-operators, and fleet owners in our Panther fleet, for whom we have provided safety programs to heighten awareness, promote safe driving behaviors, and reduce violations and accidents. Additionally, all company campuses are subject to safety and security policies and procedures to ensure the health, safety, and welfare of all employees.

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Our Asset-Based segment is dedicated to safety and security in providing transportation and freight-handling services to its customers. ABF Freight is the only eleven-time winner of the Excellence in Security Award and a ten-time winner of the Excellence in Claims & Loss Prevention Award from the American Trucking Associations. In 2024, three ABF Freight drivers were named by the American Trucking Associations as captains of the 2024-2025 “America’s Road Team,” continuing the long-time tradition of ABF Freight’s representation in this select program based on the drivers’ exceptional safety records and their strong commitment to safety and professionalism.

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We expect all employees to obey and respect human rights laws, and we will not tolerate conduct that violates these laws. We set the same expectations for our vendors, suppliers, and service providers through our Supplier Code of Conduct. Given the nature of our industry, we are in a critical position to help raise awareness of human trafficking to potentially disrupt these networks. Through a partnership with TAT® (formerly known as Truckers Against Trafficking), we educate our employees and drivers on the realities of modern-day slavery and how they can play a role in the fight against human trafficking.

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Reputation and Responsibility

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Our Company and our brands are consistently recognized for best-in-class performance and leading-edge technology.

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Brands

ArcBest is recognized as a leading integrated logistics company that employs creative problem solvers who develop and deliver innovative logistics solutions. Beyond this fundamental marketplace recognition of our collective brand identity, our other key brands represent additional unique value in their target markets.

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We have registered or are pursuing registration of various marks or designs as trademarks in the United States, including, but not limited to “ArcBest,” “ABF Freight,” “Panther,” “MoLo,” “U-Pack,” “Vaux,” and “More Than Logistics.” For some marks, we also have registered or are pursuing registration in certain other countries.

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Other Intellectual Property

Additionally, our business and operations utilize and depend upon both internally developed and purchased technology. We have obtained or are pursuing patent protection on internally developed and certain purchased technology, including equipment and process patents in connection with the previously disclosed Vaux freight handling program.

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Commitment to Environmental Responsibility

ArcBest recognizes the impact that our operations have on the environment and is committed to advancing sustainable practices across our business. We partner with customers to help meet their supply chain sustainability goals and have voluntarily published an annual report for six consecutive years detailing our responsible business priorities, sustainability initiatives, operational efficiencies, safety standards, and community-based partnerships. We also support the United Nations Global Compact’s Sustainable Development Goals (“SDGs”) and have taken action in four areas – good health and well-being; decent work and economic growth; climate action; and peace, justice, and strong institutions.

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We actively promote a cleaner environment by reducing both fuel consumption and emissions, including investing in disruptive technology like our City Route Optimization and Vaux suite. These initiatives deliver measurable results. In recognition of our efforts, ArcBest was named one of America’s Climate Leaders 2025 by USA Today and Statista for significant and sustained reductions in GHG emissions. For nearly two decades, ArcBest, including ABF Freight and Panther, has participated in the EPA’s SmartWay Transport Partnership, a collaboration between the EPA and the freight transportation industry that helps freight shippers, carriers, and logistics companies reduce GHGs and diesel emissions. ArcBest was recognized as a 2024 SmartWay Leader for our City Route Optimization technology, which enables ABF Freight to run fewer miles during pickup and delivery. ABF Freight also contributes to industry-wide sustainability efforts through the American Trucking Associations Sustainability Task Force. For more than 40 years, ABF Freight has partnered with BNSF Railway to provide intermodal shipping solutions, using stackable containers, wheeled vans and pup trailers to ship freight, improve transportation efficiency and reduce emissions output. In the first half of 2024, ABF Freight increased usage of stackable containers to nearly 50%, moving more freight per trip while reducing emissions, a milestone

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recognized with the 2025 BNSF Railway Sustainability Award. ArcBest’s commitment to sustainability also earned recognition as one of Inbound Logistics’ 2025 G75 Green Supply Chain Partners and as a recipient of the EcoVadis Commitment Badge.

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ABF Freight has long implemented practices to reduce fuel use and emissions, including voluntary speed limits, engine idle management, and strict maintenance schedules. Aerodynamic trailer aids over-the-road trailers and ongoing fleet upgrades further enhance fuel efficiency. We continue to replace aging equipment models with clean, fuel-efficient equipment. In 2025, we successfully completed a three-week pilot using an electric Class 8 truck in over-the-road operations, providing valuable insight into the potential of electric Class 8 trucks. Dock operations utilize forklifts powered by liquefied petroleum gas, which the EPA recognizes as a clean, alternative fuel. We have invested in a small number of electric forklifts, and electric yard tractors to replace diesel equipment. Additionally, MoLo operates from a LEED Gold-certified office facility in Chicago, featuring a green roof, smart lighting, energy-efficient HVAC systems, and additional eco-friendly features.

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Contributions & Awards

Our culture is focused on quality service and responsibility, and our employees are committed to the communities in which they live and work. We make financial contributions to a number of charitable organizations, many of which are supported by our employees. These employees volunteer their time and expertise, and many serve as officers or board members of various philanthropic organizations. To help guide our actions in our giving efforts, we have outlined our three philanthropic pillars — Community, Education and People. In our corporate headquarters’ local community, we have long supported the United Way of Fort Smith Area and its partner organizations. In 2025, with employee support, we once again are a United Way Pacesetter, setting the standard for leadership and community support, and we earned the Chairman’s Award for 2024-2025 campaign efforts. Our employees are also great contributors of time to our local community through various volunteer activities.

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In addition to the recognitions and awards previously mentioned in the Business section, ArcBest has been recognized with the following awards during 2025:

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Asset-Based Segment

ABF Freight received various awards during 2025 demonstrating commitment to quality and excellence, along with sustainability awards and recognitions, as previously detailed in the Business section.

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Asset-Light Segment

Our Asset-Light businesses received the following recognitions during 2025, in addition to those previously detailed in the Business section:

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Available Information

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We file our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, amendments to those reports, proxy and information statements, and other information electronically with the SEC. All reports and financial information filed with, or furnished to, the SEC can be obtained, free of charge, through our website located at www.arcb.com or through the SEC’s website located at www.sec.gov as soon as reasonably practical after such material is electronically filed with, or furnished to, the SEC. The Annual Report on Form 10-K and other information may also be obtained without charge by writing to ArcBest Corporation, Attention: Investor Relations, 8401 McClure Drive, Fort Smith, AR 72916; or by telephone at 479-785-6000. The information contained on our website does not constitute part of this Annual Report on Form 10-K, nor shall it be deemed incorporated by reference into this Annual Report on Form 10-K.

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In addition to its reports filed or furnished with the SEC, the Company publicly discloses material information from time to time in our press releases, at annual meetings of shareholders, in publicly accessible conferences and investor presentations, and through our website (principally in its News and Events section of our Investor Relations page).

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