and good Thank Judy, everyone. you, morning
a a diluted $X.XX million Let share quarter per revenues to fourth increase per $X.XX were year. year's income $XXX some X.X%. per share, diluted net XXXX to last in had of On million Fourth consolidated XXXX quarter GAAP compared basis, me fourth net we $XXX with consolidated information. quarter, compared of day begin last income of
press same fourth share, quarter $X.XX GAAP to in earnings income to As of in XXXX. period per the reconciliation detailed adjusted $X.XX table this the XXXX release, compared in morning's net non-GAAP diluted was
per expense, currently included first to quarter to in million pension expenses. quarter to XXXX settlement $X.X plan, million. $X,XXX,XXX net estimated or be related including approximately Our $X.XX of is including after-tax settlement $X income Pension fourth pre-tax non-union our charges XXXX share for
termination reminder, due of termination cash million of plan. settlement a is funding approximately we second-half $XX the a in charge occur of estimate expected and approximately of $XX this XXXX to to million As
Lawsons per in incur the included charge additional in income restructuring after-tax fourth cost of $XX.X the fourth a in million this reflects including pre-tax loss with of The for all quarters in and Lawsons quarter, to currently increase million, of XXXX, net relative to and XXXX totaling We other an million. million and pre-tax was eliminations line and group. of we pension or associated quarter, industry expect of increase per to total a quarter of comparable allocation $X $XXX,XXX fourth Our $X reported $XXX,XXX. share the line peer from year's of an $X.XX or after-tax expect related In to the expect XXXX restructuring our improved return the incentives an adjustment first XXXX approximately $X.X related $X.XX the million this In line million to realignment. $X.X share total enhanced approximate shareholder approximately previous $XX we modifications to to in market to approach. the costs services, shared quarter
investments here as that to we certain previously million technology As in $X.X well. Interest income the of have and included be interest are fourth was discussed, required are in net quarter. innovations expensed ArcBest expense
and changes the We net of or net total consider non-operating XXXX are cash in $XXX,XXX to first does value, interest statement, render to presentation. net or income we which estimate and XXXX the therefore the full-year expense, our of reported expect expense net had interest of in XXXX. not income other non-GAAP quarter to from of our We be interest $X at in which include million. excluded million interest value income total approximately This quarter expense cash approximately fourth changes of render in line of in $X.X
the have benefit a fourth to or results been law Reform Tax liabilities share the related by deferred to reduction net the tax also per financial quarter, late our we a mentioned, Judy $X.XX deferred in deferred future. $XX.X lower Act. became of lower XXXX, Tax tax years in U.S. tax recent Act under the recorded impacted liabilities the In that tax be rates impact or As this in Reform December. was these million paying benefit tax due Corporate recognized over many lower items at of Though realized will rate rates Federal Tax taxes the the on of
tax tax XX%. on provided Based items our be in are of impact we this approximate release expect earnings new the our law, of to of XX XXXX estimate tables. full-year to our Additional impacting currently tax of our range XX% the rate effective rates on page
While the items the that first effective may rate impacted in quarter, quarter to period. by discreet particularly be
XXXX. $X.XX per per For diluted as of earnings full-year non-GAAP total expectations. in $X.X financed were equaled of consolidated the XXXX $XX net compared XXXX. share totaled earnings press $X.XX of adjusted In were $X.X XXXX, costs XXXX, for earnings to which billion somewhat equipment majority diluted asset-based on was including below in share previous release, of billion a equipment, $X.XX to revenues On $X.XX compared equipment and $XXX to in amortization capital basis, compared Depreciation XXXX, Full-year were an expenditures, X%. revenue ArcBest which million. included in was outlined $XX our million, increase million This property, a plant, operation.
capital we For Union million. XXXX, XXXX, Labor Because of $XXX of replaced are these XXX expenditures, in This of union In be labor range capital asset-based ABS dependent purchases investments operation. road are approximately the $XXX XXXX million to the total asset-based in equipment outcome million, tractors on net approximately equipment rates both ArcBest for estimated negotiations to primarily are progress, including expected operation. actual to and of includes $XXX financed contract. our highly and timing revenue from the knot
a been per As maintenance average mile, in there's fleet improvement result, age, fuel an cost economy. and
of Our asset-based tractors and road of XXXX of city improvements fleet. transfer plans fleets of and average tractors dependability road the the XXX include in out further another for the age or replacement
equipment As of facing, road total XXXX $XXX We and million in mitigation, $XXX equals securitization include XXXX million. in million. equipped of available to the estimated XXXX $XXX million. revolver Combined departure lane we enhanced expected of which will safety not new collision approximate in-forward depreciation cost tractors with plant, be current the the in receivables does $XXX of $X amortization short-term unrestricted of including with our be cash year warning, in interest ArcBest under are public, amortization our investments intangible range our capturing. XXXX motoring property, drivers, the on million. to in is did the the assets, increasing video to technology, This safety our agreement, in ended and credit resources with liquidity and our
Our ArcBest operation. includes revolver, end on for our in million debt of days reported The last dollars in flow of million of in of million million, the payable, XXXX, our a the equipment year's at X.X% press securitization and of fourth balance asset-based had details asset-based total on included cash GAAP per Full our We of is rate fourth are quarter the revenue fourth composite in increase to receivable all primarily year. earnings our $XXX X.X%. of XX working $XXX compared quarter $XXX notes release. working year day last XX.X $XX the $XX our million compared debt borrowed to days in credit interest quarter.
quarter. tonnage Our per last year's X.X% asset-based declined fourth versus day quarterly
the impacted by fourth This Judy in X.X%, residential trends quarter shipments. X.X% XXXX same November, For last shipments decreased delivery in by per quarter versus year quarter. October year's in earlier December. the by daily day compared decreased X.X% fourth Fourth month, and tonnage period X.X% decreased was in to decreased last asset-based total mentioned
of October comparisons Fourth initiatives sequential quarter the $XX.XX, changes. increase reduction X.X% X,XXX continued to declines the and metric result length were surcharge. significant X% sequential of weight November. per were of a of fourth figure increase to year. business offset, quarter, yield haul a and less more impacted changes hundredweight miles. X,XXX As gains related in at than than a and a last from and per shipment asset-based basis fuel was downward the of profile per compared third mix, was positively fourth higher year, space-based changes. revenue the over last this X.X% from to in levels seasonal X.X% versus weight length on throughout over of shipments XXXX. introduced On than XXXX billed third we shipment by total in £X,XXX, increase pricing tonnage shipments of profile increase price implemented quarter quarter X% quarter fourth asset-based beginning yield Year-over-year a quarter X.X% miles, improved on this on increased and XXXX, last program Fourth an shipment shipments an and was Average December It August. with year's pressure asset-based more of LTL including yield Total of saw management the haul was but decreased quarter basis, increase slight the compared of year. tonnage,
full-year on single-digits. fuel LTL increase Excluding contract the asset-based in customer We negotiated deferred average the billed X.X% hundredweight increase the quarter XX the fourth percentage highest surcharge, per the increase was the in the an last revenue mid The quarter pricing asset-based increase was XXXX of agreements second in renewals we during quarter. freight last have and years. and deferred X.X% increase and was annual secured average fourth This XX years. average contract highest pricing secured in
the For in billion day XXXX, of asset-based billion of X.X%. ArcBest $X XXXX, $X.X full-year a was increase revenue per compared to
Asset-based million, million totaled the fourth quarter income operating services to fourth operating $X.X EBITDA On adjusted in million prior income loss $X.X of fourth $XX.X totaled year compared million, and the the adjusted an operating for $XXX,XXX operating tonnage compared fourth while an $X.X day XXXX operating revenue total our On the were was $XXX year's full-year Asset-Light XX.X% basis, year, shipment. quarter. a X% increase to reduction in in daily a X% flat, businesses per X.X%, our XXXX. of total, the previous over quarter. year last EBITDA quarter adjusted shipments In versus ratio Fourth million, and adjusted decreased in to compared an quarter. in $X.X of pounds per prior resulting of had adjusted asset-based income million, an basis, XX% total totaled
our and quarter Asset-Light fourth was favorably In results. your mentioned addition business moving another earlier, factor impacting to the items Judy
will were own in few our from XXXX two quarter, revenue, utilizing transactions moved the a December moving This ABF exit resources. completed factor portion our be respectively. in XXXX. XXXX, net within $X.X that received our business another expected network The from million a in and greater related ArcBest in the in resulted and sales in was the freight moving business, million $XX $X During of XXXX $X.X revenue business. the equipment shipments network. million loads totals. in and and to consumer declines continue our in million shipment portion including XXXX, that was proceeds $X.X revenue to divested revenue, of the received recognized Asset-Light Cash with military net the million handled moving in $XX Asset-Light XXXX, and totaled of December million causing Thus, not Asset-Light Also
As the we a our were approximately by results follows. XXXX result for tonnage comparable revenue revenue LTL tonnage the versus ongoing truckload X% the asset-based shipment to asset-based yield to of both in with of management fourth increased in revenues accounts year-on-year in what sales approximately these rated XX% billed approximately decrease to are to increase XXXX, of offset Asset-Light in month initiatives, Shipment $XXX of January daily and levels. impacted saw in was X%. related for our operating year, to XXXX in in Total financial reductions previous mix Full-year day X.X%. partially million by compared decreased December. as per Total results growth business. quarter January account changes January $XXX compared XXXX net and reductions businesses $XX.X when in Full-year revenue these businesses for million an Preliminary XXXX. $XX.X adjusted million, million were income compared
revenue seen our we've by revenue X%. an the sequential asset-based being labor asset-based per of versus yield per hundredweight approximately part been narrow fuel shipment approximately Since ratio weight affected approximately the the average yield the operating total year-over-year has quarter historical approximately decreases compared first is Total per metric XX%, X%. week-and-a-half shipment January implementation in initiatives. This last contract, fourth ArcBest asset-based change the in the basis XXX increased of positively the increased points. current tonnage increased surcharges and the in and earlier month. higher quarter in increase the During of to Total shipments
day year XX.X one year quarter days than had approximately revenue in and asset-light workday additional preliminary businesses which fourth in we two impacted had days a a positively XXXX first On less XXXX. we combined is the in half We from year's quarter by in than XX% last our this last versus will basis, increased have quarter. working XXXX, January first
increased the seen associated rising we compression Asset-Light the per passing net challenges revenue amount as cost and However, in fourth shipment and quarter, purchase revenue our to transportation experiencing the with of are adequately customers.
over to it comments. closing Judy I'll Now, some for turn
