ArcBest Corporation

Greetings and welcome to the ARC Best Second Quarter 2022 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we'll connect a question and answer session. At that time, if you have a question, please press the one followed by the four on your telephone. If at any time during the conference you need to reach an operator, please press star zero. As a reminder, this conference is being recorded Friday, July 29, 2022. I would now like to turn the conference over to David Humphrey, Vice President of Investor Relations. Please go ahead.

Thank you for joining us. On today's call, we will walk you through the details of our second quarter 2022 results. Joining me today are Judy McReynolds, Chairman, President, and CEO of ArcBest, and David Cobb, Chief Financial Officer of ArcBest. And we'll have additional commentary from Dennis Anderson, ArcBest's Chief Customer Officer, and Danny Lowe, ARTBEST President of Asset Light Logistics and Chief Yield Officer. To help you better understand ARTBEST and its results, some forward-looking statements could be made during this call. Forward-looking statements, by their very nature, are subject to uncertainties and risk. For a more complete discussion of factors that could affect ARTBEST's future results, please refer to the forward-looking statements section of our earnings press release and our most recent SEC public filings. To provide meaningful comparisons, certain information discussed in this call includes non-GAAP financial measures as outlined and described in the tables in our earnings press release. Reconciliations of the GAAP financial measures to the related non-GAAP measures discussed in this call are also provided in the additional information section of the presentation slides. As a reminder, Our earnings slide deck can be found on the ARCBEST website, arcb.com, in Exhibit 99.3 of the 8K that was filed earlier this morning, or they are available as part of the webcast. We will now begin with Judy.

Thank you, and good morning, everyone. It's a remarkable time to be at ARCBEST as we celebrate another record quarter driven by the execution of our growth-focused business strategy. I'd like to begin today's call by recognizing our amazing people and leadership team. As we approach our 100-year anniversary next year, it's their dedication and hard work that have helped us deliver superior results while keeping the global economy moving. We have so much to be proud of this quarter, including revenue growth of 47% and releasing our third annual Environmental, Social, and Governance Report. The report highlights our company's significant progress and ongoing efforts in building a safer, more sustainable, and more inclusive company and world. Our revenue growth was driven by increasing demand across our business lines and our breadth of integrated solutions that make it easy for customers to choose ArcVest. At the core of our business and strategy is a focus on technology and innovation investments, and importantly, the development of our people. Put together, we are confident we can thrive regardless of the environment and drive long-term value for our best stockholders. Supply chains are getting more complex, and we are helping our customers navigate these challenges. We are committed to staying ahead of the curve to better serve customers as a trusted provider and partner. Our business results enable us to do that by continuing to reinvest and progress our strategic growth goals. I would like to highlight three specific points this quarter that illustrate how our approach is delivering value for our customers. First, we are hearing from customers that they need more flexibility in their supply chains. Our breadth of solutions enables us to serve them across whatever mode they need without switching service providers. This makes us a unique partner. Customers continue to share positive feedback that our mode-agnostic approach is an important differentiator that helps them keep their supply chains running. Listening to our customers is our top priority. Deep, trusted relationships with customers enable us to learn more about their business needs and what's happening in their respective markets. These discussions inform how we help them optimize their supply chains in an efficient and cost-effective manner while also helping them prepare for a changing economic environment. Overall, we are well-positioned in growth markets and highly attuned to our customers' needs. This leads to the increasing demand we are seeing and enables the introduction of new offerings. Strong growth in key services like truckload, and manage solutions is proof that we are responsive to our customers' needs and that our strategy is working. Second, we continue making investments in technology and innovation that differentiate us from competitors. The world is changing faster than ever, and we are working hard to ensure our investments in technology and innovation stay ahead of those changes, both with the way we work and the way customers use our solutions. With our breadth of services and a growing customer base, we have access to more data, enabling us to build better tools that drive value and productivity. As the supply chain continues to be disrupted, it's never been more important for customers to have better visibility, better transparency, and more flexibility. We can identify roadblocks, stay agile, pivot, and offer more creative approaches to drive our customers' success. Our investments are already paying off by saving customers time and money and earning us more business. Third, we continue investing in our employees, facilities, and technology to enable additional growth. We are committed to being a leading place to work, and we know we need to keep moving forward. Expectations are rising, and with labor shortages and the war for talent, our investments and our culture make ArcVest a place people want to work. In fact, Excluding MOLO, who just celebrated their five-year anniversary, the average combined service of all ARCBEST employees is approximately 10 years, and over one-third of our employees have been with us for at least that long. Our tools, training, and technology enable employees to do their jobs more effectively, easily, and faster. Additionally, we continue to expand and update our facilities, which will enable even more growth. In short, ARCBEST is firing on all cylinders as evidenced by our record financial results this past quarter. As we continued executing our proven successful strategy, our company is poised to continue growing, meeting customer needs, and delivering superior and sustainable results for investors, even during periods of market volatility and uncertainty. And now I'll turn it over to David Cobb, who will take you through the specifics of our strong second quarter performance and continuing business momentum.