Ladies and gentlemen, thank you for standing by. Welcome to the ArcBest First Quarter 2018 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded Thursday, May 10, 2018. I would now like to turn the conference over to David Humphrey, Vice President of Investor Relations. Please go ahead.

Welcome to the ArcBest First Quarter 2018 Earnings Conference Call. Our presentation this morning will be done – this afternoon, excuse me, will be done by Ms. Judy R. McReynolds, Chairman, President and Chief Executive Officer of ArcBest; Mr. David R. Cobb, Vice President, Chief Financial Officer of ArcBest. As most of you know, on March 28, we reached a tentative agreement with teams as bargaining team voting ended on Tuesday we’re expecting to receive the final results later today or sometime tomorrow. Out of respect for the vote tabulation process, this afternoon, we will give an update on first quarter results but will not take any questions following our prepared commentary. We hope you can understand our reasons for doing it this way near the conclusion of the vote tabulation process. As needed, following the call and tomorrow, we will be available to speak with you to discuss the publicly disclosed information about our first quarter 2018 results. We thank you for joining us today. In order to help you better understand ArcBest and its results, some forward-looking statements could be made during this call. As we all know, forward-looking statements, by their very nature, are subject to uncertainties and risk. For a more complete discussion of factors that could affect the Company’s future results, please refer to the forward-looking statements section of the Company’s earnings press release and the Company’s most recent SEC public filings. In order to provide meaningful comparisons, certain information discussed in this conference call includes non-GAAP financial measures as outlined and described in the tables in our earnings release. We will now begin with Judy.

Thank you, David, and good afternoon, everyone. Conditions in the shipping and logistics market for the first quarter were some of the strongest we have seen in some time for this typically seasonally slow period of the year. This favorable environment and our focus on securing appropriate value for our services led to the positive first quarter results we report today. Customers looking to optimize their supply chains amid tight industry conditions are finding needed solutions and value in the broad scope of ArcBest offerings. Both our Asset-Based and our asset light businesses experienced strong revenue per shipment growth, and our asset light revenues rose nearly 20%. As we continue to shed the unprofitable business in our Asset-Based segment, that doesn’t adequately compensate us for the value we provide, shipments were impacted. But we are seeing a profile of freight that is better suited to the type of operations we have, and I’m pleased with the way this initiative has been executed along with the new customers we brought on board. As you know, on March 28, the bargaining teams from ABF and the Teamsters reached a tentative agreement on a new contract for a 63-months term. We were pleased to reach an agreement that is affordable for the company and fair to our employees. Votes have been cast and are currently being tabulated. We will provide additional information on the results as they become available. And now, I’ll discuss more details about our service offering. In the first quarter, our Asset-Based business benefited from the impacts of strong market conditions in the midst of tight industry capacity. This complimented the positive results we continued to experience from yield management actions implemented throughout 2017 and in the first quarter. Our CMC space-based pricing program which began in August of 2017…

Thank you, Judy, and good afternoon, everyone. Let me begin with some consolidated information. First quarter 2018 consolidated revenues were $700 million compared to $651 million in last year’s first quarter, a per day increase of 8.4%. On a GAAP basis, we had first quarter 2018 net income of $0.37 per diluted share, compared to net loss of $0.29 per share last year. As detailed in the GAAP to non-GAAP reconciliation table in this afternoon’s earnings press release, adjusted first quarter 2018 net income was $0.29 per diluted share, compared to a loss of $0.22 in the same period of 2017. Our net income in first quarter of 2018 included $2 million pre-tax charge or $1.5 million after-tax and $0.06 per share related to our non-union pension plan, including settlement expense. The first quarter of 2017 included a similar charge of $1.9 million pretax or $1.2 million after tax and $0.05 per share. Pension expense, including settlement charges for second quarter of 2018 is currently estimated to be approximately $2 million pre-tax or $1.5 million after-tax. As a reminder, we estimate cash funding of approximately $10 million and a pre-tax settlement termination charge of approximately $20 million is expected to occur in the second half of 2018 due to termination of the plan. Our first quarter 2018 net income included an adjustment of $400,000 pre-tax or $0.01 per share after-tax related to our enhanced market approach. Last year in first quarter 2017, these restructuring charges were $1.6 million pre-tax or $0.04 per share after-tax. We currently expect to incur approximately $1 million of total restructuring cost in 2018 related to this organizational realignment. This year’s first quarter, the loss reported in the other and eliminations line was $5.4 million, which included the $400,000 of restructuring costs I just mentioned. The…

Thanks, David. Since we implemented our enhanced market approach beginning in 2017, we have received a lot of positive customer feedback. This feedback is in the form of actual comments from customers, is also reflected in the statistics retrack on cross-selling and seen in the percentage of revenue coming from secondary solutions. As customers purchase more than one supply chain solution from us, they also rate us higher in key areas of satisfaction such as problem-solving, being a trusted partner and ease of doing business. This gives me and our management and sales teams a great deal of confidence that we have a lot of additional opportunity to broaden and deepen our customer relationships and share of wallet. And now as I usually do, I would like to offer some of the additional highlights for the quarter. In February, our training program was once again recognized. We placed 12th on the Training magazine 2018 top 125 and have appeared nine consecutive years. It is truly a great achievement to be so highly ranked on this list once again, which features company’s excellence and employees sponsor training and development program. In March, the ArcBest Wichita Falls, Texas campus was named one of the 2018 best companies to work for in Texas. Additionally, we announced our new 12-member Road team members from ABF in March, a group of professionals who we are always very proud to have in our ranks. These 12 individuals all have superb driving skills an outstanding safety records and are committed to our customers needs. Congratulations to everyone on the 2018 road team. We also announced that ArcBest has joined the block chain in transportation alliance becoming a part of a large group of companies that will work to have developed and set standards for block chain technology use in our industry. As you know, our ArcBest technologies group is always looking to enhance the way we do business and ensure that we adapt to a changing market play. We believe that joining this alliance as beneficial for our team and for our customers. Looking ahead to the rest of the year, we will continue to monitor cost as always, and execute on the many initiatives we have to improve our operations and customer experience. I’m encouraged that we will be aided by favorable conditions in the marketplace at large, and confident in our team’s ability to get the job done. And finally, as I mentioned earlier, we are awaiting results on the contract both from the Teamsters who are in charge of the process. As we have information to share, it will be provided. I’ll turn it over to David for some closing comments now.

Well, we thank you for joining us this afternoon. We appreciate your interest in ArcBest. This concludes our call. Thank you.

Ladies and gentlemen, that does conclude the conference call for today. We thank you for your participation and ask that you please disconnect your lines.