ArcBest Corporation

Greetings and welcome to the ARCBEST fourth quarter 2022 earnings conference call. During the presentation, all participants will be in the listen-only mode. Afterwards, we will conduct a question and answer session. At that time, if you have a question, please press the 1 followed by the 4 on your telephone. If at any time during the conference you need to reach an operator, please press star 0. As a reminder, this conference is being recorded on Friday, February 3rd, 2023. I would now like to turn the conference over to Mr. David Humphrey, Vice President of Investor Relations. Please go ahead.

Thank you for joining us. On today's call, we will provide an update on our business, walk you through the details of our recent fourth quarter and full year 2022 results, and then answer some questions. Joining me today are Judy McReynolds, Chairman, President, and CEO of ArcBest, David Cobb, Chief Financial Officer of ArcBest, Danny Lowe, ArcBest President of Asset Light Logistics and Chief Yield Officer, as well as Dennis Anderson, ArcBest's Chief Customer Officer. To help you understand ArcBest 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 more complete discussion of factors that could affect ARPBEST'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, there is a conference called Slide Deck that can be found on the ARCBEST website, arcb.com, in Exhibit 99.3 of the 8K that was filed earlier this morning, or you can follow along on the webcast. We will now begin with Judy.

Good morning, and thank you all for joining us. I would like to begin by acknowledging a few tremendous milestones for ArcBest. First, we exceeded $5 billion in annual revenue for the first time in company history, with year-over-year revenue growth of $1.3 billion. We also achieved the highest earnings per share in our company's history. These important accomplishments could not have happened without the hard work and dedication of the entire ArcBest team. The other important milestone I want to highlight is a celebration. 2023 marks our 100th anniversary. ArcBest has flourished over the past century, and we are positioned to continue driving this momentum forward into the next century. The road to 100 years has been paved with resilience, flexibility, innovative thinking, cutting-edge solutions, and a commitment to our core values. We know who we are, and because we have stayed true to our values and focused on our strengths, we've been able to innovate and successfully navigate enormous amounts of change. Nothing intimidates us. We have a saying, we'll find a way, which means we'll stop at nothing to get the job done well. I'm incredibly proud of what we've accomplished together. Our results remain strong, as does our growth opportunity, regardless of the obstacles facing our industry. We are on track to achieve our long-term financial target of $7 to $8 billion in revenue by 2025 and will continue to manage the business in the short term as market conditions evolve. As we've shown time and again, we are a company that thinks ahead and plans for the long term. We continue to strengthen our competitive edge through our diverse portfolio. The breadth of modes we offer our customers allows us to make the most personalized and strategic decisions for them, decisions that will help them grow. In fact, I recently connected with a customer whose supply chain we started managing last year. They initially saw ArcBest as an LTL company, but after learning about our additional solutions, they selected ArcBest as their logistics partner. Within a fairly short amount of time, we developed a deep partnership managing their transportation and creating exceptional value for them as a result we're expecting double-digit growth with this customer in 2023 it is deep trusted customer relationships like this that have and will continue to contribute to our success in any operating environment throughout 2022 we continued our strategic investments in technology and innovation Innovation isn't just a buzzword for ArcBest. It's embedded throughout our long-term plans and in the way that we approach our daily work. We started and completed numerous technology projects in 2022, which allow us to run our business with more precision, better identify issues, and quickly address the root causes with a tailored solution. Looking ahead, we're advancing our use of technology to strengthen our business and better serve our customers. We bring our innovative mindset to every partnership, building processes and digital capabilities that make it easier and more efficient to do business. We prioritize investments in these critical parts of our business to stay ahead and succeed now and in the future. Building on that, you've heard us reference an innovation investment we've made, which includes patented handling equipment, software, and a patented process to load and unload trailers. In addition to being used in parts of our network, we are currently piloting this program in several customer locations. We're encouraged by the early value it's delivering, and we have several large customers already interested in broader deployments of the solution. We believe it has the potential to be an industry game changer and look forward to sharing more later this quarter. Of course, none of our innovation or our results this year and over the past 100 years would have been possible without great people who work hard every day to solve logistics challenges for our customers. A sincere thank you to the ArcBest team. And now I'll turn it over to David, who will take you through the quarter and the year in greater detail.