Freight Delivery Company ArcBest (NASDAQ: ARCB) will be reporting earnings this Wednesday before the bell. Here’s what investors should know.
ArcBest missed analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $967.1 million, down 6.7% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ adjusted operating income estimates but a miss of analysts’ EBITDA estimates.
Is ArcBest a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting ArcBest’s revenue to decline 2.4% year on year to $1.05 billion, in line with the 2.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.46 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 Q2 results, giving us a hint as to what we can expect. Saia posted flat year-on-year revenue, beating analysts’ expectations by 1.2%, and Knight-Swift Transportation reported flat revenue, in line with consensus estimates. Saia traded up 4% following the results while Knight-Swift Transportation’s stock price was unchanged.
Read our full analysis of Saia’s results here and Knight-Swift Transportation’s results here.
There has been positive sentiment among investors in the ground transportation segment, with share prices up 6.5% on average over the last month. ArcBest is up 11% during the same time and is heading into earnings with an average analyst price target of $94.42 (compared to the current share price of $85.46).
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