ArcBest: Q1 Earnings Snapshot
FORT SMITH, Ark. (AP) _ ArcBest Corp. (ARCB) on Tuesday reported first-quarter profit of $23.4 million.
On a per-share basis, the Fort Smith, Arkansas-based company said it had profit of 87 cents. Earnings, adjusted for non-recurring costs, were $1.01 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The freight transportation and logistics company posted revenue of $829.2 million in the period.
ArcBest shares have increased 76% since the beginning of the year. The stock has more than tripled in the last 12 months.