Reported 1 day ago
ArcBest anticipates ongoing margin pressures in the fourth quarter due to weak demand, potentially leading to near-breakeven results for its asset-based unit. Although the company exceeded third-quarter expectations with a reported EPS of $1.46, it saw a decline in year-over-year performance. Tonnage trends have turned negative, particularly in October, exacerbated by challenges in manufacturing and housing sectors. The firm aims to manage costs to mitigate margin declines, while the asset-light segment is expected to experience seasonal weakness.
Source: YAHOO