Overview
ArcBest Q3 revenue of $1.05 bln, beating analyst expectations
Net income from continuing operations fell to $39.3 mln from $100.3 mln last year
Company returned over $66 mln to shareholders via share repurchases and dividends YTD
Outlook
Company did not provide specific financial guidance for future periods
Result Drivers
ASSET-BASED GROWTH - Growth in LTL shipments and tonnage driven by new core LTL customers, despite decline in weight per shipment
ASSET-LIGHT PRODUCTIVITY - Record shipment volumes and productivity in Asset-Light segment despite revenue decline due to smaller, lower-revenue shipments
COST MANAGEMENT - Improved cost per shipment and productivity gains despite higher operating expenses from labor and transportation costs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $1.05 bln | $1.03 bln (10 Analysts) |
Q3 Net Income | $39.27 mln | ||
Q3 Net Income continuing operations | $39.27 mln | ||
Q3 Operating Expenses | $993.51 mln | ||
Q3 Operating Income | $54.62 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for ArcBest Corp is $88.00, about 18.9% above its November 4 closing price of $71.39
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
Press Release: ID:nBwbyYqG4a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)