ArcBest: Q2 Earnings Snapshot
FORT SMITH, Ark. (AP) _ ArcBest Corp. (ARCB) on Friday reported second-quarter profit of $102.5 million.
The Fort Smith, Arkansas-based company said it had profit of $4 per share. Earnings, adjusted for non-recurring costs, were $4.30 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.91 per share.
The freight transportation and logistics company posted revenue of $1.39 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.35 billion.
ArcBest shares have dropped 27% since the beginning of the year. The stock has risen 56% in the last 12 months.