ArcBest® has reported third quarter 2017 revenue of $744.3 million compared to third quarter 2016 revenue of $713.9 million.  Third quarter 2017 operating income was $24.3 million compared to operating income of $20.4 million last year.  Net income of $14.8 million, or $0.56 per diluted share, compared to third quarter 2016 net income of $12.9 million, or $0.49 per diluted share.     Excluding certain items in both periods as identified in the attached reconciliation tables, non-GAAP net income was $15.5 million, or $0.59 per diluted share, in third quarter 2017 compared to third quarter 2016 net income of $12.6 million, or $0.48 per diluted share. On a non-GAAP basis, operating income was $27.0 million in third quarter 2017 compared to third quarter 2016 operating income of $21.7 million.  Cost controls resulting from the enhanced market approach implemented at the beginning of the year continue to be in-line with expectations.    “Our enhanced market approach, tighter capacity and a generally favorable pricing environment all contributed to improved third quarter results,” said ArcBest Chairman, President and CEO Judy R. McReynolds. “Our expedited business was particularly strong, and on the asset-based side, we continue to make progress on the implementation of our space-based pricing initiative, which took effect August 1. While we experienced some negative effects in our asset-based business from hurricanes in the southern U.S. and Puerto Rico, customers seeking total logistics solutions and guaranteed capacity are increasingly looking to ArcBest to fulfill their supply chain needs.” Asset-Based Results of Operations Third Quarter 2017 Versus Third Quarter 2016 •    Revenue of $517.4 million compared to $509.0 million, a per-day increase of 4.1 percent. •    Tonnage per day decrease of 3.0 percent. •    Shipments per day decrease 1.4 percent. •    Total billed revenue per hundredweight increased 6.6 percent that was positively impacted by changes in shipment profile and higher fuel surcharges.  Excluding fuel surcharge, the percentage increase on ArcBest’s Asset-Based LTL freight was in the mid-single digits. •    Operating income of $21.8 million and an operating ratio of 95.8 percent compared to operating income of $18.1 million and an operating ratio of 96.5 percent.  On a non-GAAP basis, operating income of $23.5 million and an operating ratio of 95.5 percent compared to operating income of $18.6 million and an operating ratio of 96.4 percent. In the midst of a solid LTL pricing environment, yield management actions implemented throughout 2017, including this quarter’s space-based pricing initiative, resulted in higher revenue per hundredweight and improved revenue per shipment.  Though freight tonnage was lower, primarily due to purposeful reductions in asset-based truckload-rated shipments, monthly total weight per shipment trends improved throughout the quarter and LTL weight per shipment increased slightly.  In addition, one and a half fewer working days in the quarter impacted operating results and comparisons to previous periods.  On the expense side, costs were reduced in a number of areas through cost management efforts including lower linehaul costs influenced by our optimization technologies and reductions in purchased transportation.  However, these cost reductions were offset by reduced pickup and delivery productivity, higher rental costs and increased health, welfare and pension expenses for union employees. Asset-Light‡ Results of Operations Third Quarter 2017 Versus Third Quarter 2016 •    Revenue of $235.3 million compared to $210.1 million. •    Operating income of $8.5 million compared to operating income of $6.4 million. On a non-GAAP basis, operating income of $8.7 million compared to $6.4 million. •    Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) of $11.8 million compared to Adjusted EBITDA of $10.3 million. The increase in ArcBest’s Asset-Light revenue and operating income was driven by solid growth in expedite services and year-over-year business increases associated with the early September 2016 acquisition of a dedicated truckload company.  Combined with a slight increase in average daily expedite shipments, the increase in expedite revenue was the result of significant growth in average shipment revenue associated with positive changes in equipment mix and longer average length of haul.  Truckload revenue improved slightly as a result of increased revenue per shipment despite lower shipment counts.  Truckload net revenue margins were below the same period last year due to the challenges of implementing customer rate increases in line with rising purchased transportation costs associated with tighter capacity in the truckload marketplace.  Despite a reduction in total events associated with changes in customer mix, FleetNet’s third quarter revenue and operating income improved as a result of focused cost controls and labor reductions. Closing Comments “As a logistics company with diverse, reliable and unique capacity options, ArcBest strives to offer a best-in-class experience for all of our supply chain solutions,” said McReynolds. “The initiatives we have embarked on this year to optimize our structure and offer most services under the ArcBest brand have positioned us well as we are winning more business from existing customers and creating new relationships that were previously outside our reach. At the same time, we have worked hard to manage costs and ensure that the value we provide for our services is appropriately compensated.”