Reported 1 day ago
ArcBest exceeded third-quarter expectations with adjusted earnings of $1.46 per share and revenue of $1.05 billion, slightly ahead of forecasts. However, the company is predicting a significant margin decline of 400 basis points in Q4, due to ongoing softness in the freight market and year-over-year cost increases. The asset-based segment posted a 92.5% operating ratio, while the asset-light segment reported a modest operating profit but anticipates losses in the upcoming quarter.
Source: YAHOO