ArcBest Corp reports results for the quarter ended in June - Earnings Summary

ArcBest

02/08/2024 14:51

* ArcBest Corp  ARCB.OQ  reported quarterly adjusted
earnings of
$1.98​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of $1.54. 
The mean expectation of twelve analysts for the quarter was
for earnings of $2.06 per share. Wall Street expected results to
range from $1.81  to $2.20 per share.
    * Revenue fell 2.3% to $1.08 billion from a year ago;
analysts
expected $1.06 billion. 
    * ArcBest Corp's reported EPS for the quarter was $1.96​.
    * The company reported quarterly net income of $46.92
million.
    * ArcBest Corp shares had risen by 13.6% this quarter and
gained 1.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6.1%
in the last three months.​ 
    * In the last 30 days, five analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 3
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the ground
freight &
logistics peer group is also "buy"

Wall Street's median 12-month price target for ArcBest Corp is
$140.00 
This summary was machine generated from LSEG data August 2 at
01:51 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      2.06           1.98           Missed
 Mar. 31 2024      1.53           1.34           Missed
 Dec. 31 2023      2.21           2.47           Beat
 Sep. 30 2023      1.50           2.31           Beat