ArcBest: Q1 Earnings Snapshot
FORT SMITH, Ark. (AP) _ ArcBest Corp. (ARCB) on Friday reported first-quarter earnings of $69.6 million.
The Fort Smith, Arkansas-based company said it had profit of $2.68 per share. Earnings, adjusted for non-recurring costs, were $3.08 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.08 per share.
The freight transportation and logistics company posted revenue of $1.34 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.23 billion.
ArcBest shares have fallen 36% since the beginning of the year. The stock has increased 5.5% in the last 12 months.