Overview

* ArcBest ( ARCB ) Q3 revenue of $1.05 bln, beating analyst expectations

* Net income from continuing operations fell to $39.3 mln from $100.3 mln last year

* Company returned over $66 mln to shareholders via share repurchases and dividends YTD

Outlook

* Company did not provide specific financial guidance for future periods

Result Drivers

* ASSET-BASED GROWTH - Growth in LTL shipments and tonnage driven by new core LTL customers, despite decline in weight per shipment

* ASSET-LIGHT PRODUCTIVITY - Record shipment volumes and productivity in Asset-Light segment despite revenue decline due to smaller, lower-revenue shipments

* COST MANAGEMENT - Improved cost per shipment and productivity gains despite higher operating expenses from labor and transportation costs

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $1.05 $1.03

Revenue bln bln (10

Analysts

)

Q3 Net $39.27

Income mln

Q3 Net $39.27

Income mln

continui

ng

operatio

ns

Q3 $993.51

Operatin mln

g

Expenses

Q3 $54.62

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

* Wall Street's median 12-month price target for ArcBest Corp ( ARCB ) is $88.00, about 18.9% above its November 4 closing price of $71.39

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)