Freight Delivery Company ArcBest (NASDAQ: ARCB) will be reporting results this Wednesday morning. Here’s what to expect.
ArcBest missed analysts’ revenue expectations by 2.8% last quarter, reporting revenues of $1.02 billion, down 5.2% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EPS estimates.
Is ArcBest a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting ArcBest’s revenue to decline 1.4% year on year to $1.05 billion, improving from the 5.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.37 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ArcBest has missed Wall Street’s revenue estimates four times over the last two years.
Looking at ArcBest’s peers in the ground transportation segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Saia posted flat year-on-year revenue, beating analysts’ expectations by 1%, and Avis Budget Group reported revenues up 1.1%, topping estimates by 1.8%. Saia traded up 5.7% following the results while Avis Budget Group was down 6.1%.
Read our full analysis of Saia’s results here and Avis Budget Group’s results here.
Investors in the ground transportation segment have had steady hands going into earnings, with share prices flat over the last month. ArcBest is down 2.4% during the same time and is heading into earnings with an average analyst price target of $89.33 (compared to the current share price of $71.71).
P.S. STOP buying the AI stocks everyone’s talking about. The real money? It’s in the profitable pick nobody’s watching yet. We’ve identified an AI profit machine that’s flying under Wall Street’s radar—for now. We can’t keep this research public forever—grab your FREE copy before we pull it offline. GO HERE NOW.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
