ArcBest: 2Q Earnings Snapshot
FORT SMITH, Ark. (AP) _ ArcBest Corp. (ARCB) on Wednesday reported second-quarter profit of $15.9 million.
The Fort Smith, Arkansas-based company said it had profit of 61 cents per share. Earnings, adjusted for non-recurring costs and pretax expenses, were 67 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The freight transportation and logistics company posted revenue of $627.4 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $638.7 million.
ArcBest shares have climbed 16% since the beginning of the year. The stock has risen 15% in the last 12 months.