ArcBest: 4Q Earnings Snapshot
FORT SMITH, Ark. (AP) _ ArcBest Corp. (ARCB) on Thursday reported a fourth-quarter loss of $5.5 million, after reporting a profit in the same period a year earlier.
The Fort Smith, Arkansas-based company said it had a loss of 22 cents per share. Earnings, adjusted for one-time gains and costs, came to 56 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The freight transportation and logistics company posted revenue of $717.4 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $714.5 million.
For the year, the company reported profit of $40 million, or $1.51 per share. Revenue was reported as $2.99 billion.
ArcBest shares have declined 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $25.63, a fall of 38% in the last 12 months.