The following is a “safe harbor” statement under the Private
Securities Litigation Reform Act of 1995: Certain
statements and information in this report may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, including, among others,
statements regarding (i) our expectations about our intrinsic value
or our prospects for growth and value creation and (ii) our
financial outlook, position, strategies, goals, and expectations.
Terms such as “anticipate,” “believe,” “could,” “estimate,”
“expect,” “forecast,” “foresee,” “intend,” “may,” “plan,”
“predict,” “project,” “scheduled,” “should,” “would,” and similar
expressions and the negatives of such terms are intended to
identify forward-looking statements. These statements are based on
management’s beliefs, assumptions, and expectations based on
currently available information, are not guarantees of future
performance, and involve certain risks and uncertainties (some of
which are beyond our control). Although we believe that the
expectations reflected in these forward-looking statements are
reasonable as and when made, we cannot provide assurance that our
expectations will prove to be correct. Actual outcomes and results
could materially differ from what is expressed, implied, or
forecasted in these statements due to a number of factors,
including, but not limited to: the effects of widespread outbreak
of an illness or disease, including the COVID-19 pandemic, or any
other public health crisis, as well as regulatory measures
implemented in response to such events; external events which may
adversely affect us or the third parties who provide services for
us, for which our business continuity plans may not adequately
prepare us, including acts of war or terrorism or military
conflicts; a failure of our information systems, including
disruptions or failures of services essential to our operations or
upon which our information technology platforms rely, data breach,
and/or cybersecurity incidents; interruption or failure of
third-party software or information technology systems or licenses;
untimely or ineffective development and implementation of, or
failure to realize potential benefits associated with, new or
enhanced technology or processes, including the pilot test program
at ABF Freight; the loss or reduction of business from large
customers; the ability to manage our cost structure, and the timing
and performance of growth initiatives; the cost, integration, and
performance of any recent or future acquisitions, including the
acquisition of MoLo Solutions, LLC, and the inability to realize
the anticipated benefits of the acquisition within the expected
time period or at all; market fluctuations and interruptions
affecting the price of our stock or the price or timing of our
share repurchase programs; maintaining our corporate reputation and
intellectual property rights; nationwide or global disruption in
the supply chain increasing volatility in freight volumes;
competitive initiatives and pricing pressures; increased prices for
and decreased availability of new revenue equipment, decreases in
value of used revenue equipment, and higher costs of
equipment-related operating expenses such as maintenance, fuel, and
related taxes; availability of fuel, the effect of volatility in
fuel prices and the associated changes in fuel surcharges on
securing increases in base freight rates, and the inability to
collect fuel surcharges; relationships with employees, including
unions, and our ability to attract, retain, and develop employees;
unfavorable terms of, or the inability to reach agreement on,
future collective bargaining agreements or a workforce stoppage by
our employees covered under ABF Freight’s collective bargaining
agreement; union employee wages and benefits, including changes in
required contributions to multiemployer plans; availability and
cost of reliable third-party services; our ability to secure
independent owner operators and/or operational or regulatory issues
related to our use of their services; litigation or claims asserted
against us; governmental regulations; environmental laws and
regulations, including emissions-control regulations; default on
covenants of financing arrangements and the availability and terms
of future financing arrangements; self-insurance claims and
insurance premium costs; potential impairment of goodwill and
intangible assets; general economic conditions and related shifts
in market demand that impact the performance and needs of
industries we serve and/or limit our customers’ access to adequate
financial resources; increasing costs due to inflation; seasonal
fluctuations and adverse weather conditions; and other financial,
operational, and legal risks and uncertainties detailed from time
to time in ArcBest Corporation’s public filings with the Securities
and Exchange Commission (the “SEC”).
For
additional information regarding known material factors that could
cause our actual results to differ from our projected results,
please see our filings with the SEC, including our Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on
Form 8-K.
Readers are
cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date hereof. We undertake no
obligation to publicly update or revise any forward-looking
statements after the date they are made, whether as a result of new
information, future events, or otherwise.