Fort Smith-based ArcBest misses forecasts in earnings

Special to the Arkansas Democrat Gazette - 08/21/2014 - An ABF Freight truck transports a load. Its parent company is Fort Smith-based ArcBest.
Special to the Arkansas Democrat Gazette - 08/21/2014 - An ABF Freight truck transports a load. Its parent company is Fort Smith-based ArcBest.


FORT SMITH -- ArcBest Corp. on Friday reported fourth-quarter net income of $37.3 million.

On a per-share basis, the Fort Smith, Arkansas-based company said it had net income of $1.48. Earnings, adjusted for nonrecurring costs, were $2.45 per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.

The freight transportation and logistics company posted revenue of $1.24 billion in the period, also missing forecasts. Three analysts surveyed by Zacks expected $1.26 billion.

For the year, the company reported profit of $298.2 million, or $11.69 per share. Revenue was reported as $5.32 billion.

ArcBest shares have risen 29% since the beginning of the year. The stock has fallen nearly 4% in the last 12 months.


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