ArcBest: 2Q Earnings Snapshot
FORT SMITH, Ark. (AP) _ ArcBest Corp. (ARCB) on Tuesday reported second-quarter earnings of $1.2 million.
On a per-share basis, the Fort Smith, Arkansas-based company said it had net income of 5 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.12 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.
The freight transportation and logistics company posted revenue of $793.4 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $786.9 million.
ArcBest shares have risen 30 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $46.55, a climb of 67 percent in the last 12 months.