ArcBest beats estimates with $1.21 billion quarterly revenue
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Key points
- ArcBest (NASDAQ:ARCB) generated $1.21 billion in third-quarter revenue, representing a 15% year-over-year operational increase.
- The company beat Wall Street estimates by posting an adjusted diluted profit of $2.62 per share.
- ArcBest stated its ongoing strategy relies on capitalizing on higher daily tonnage across its asset-based freight network.
ArcBest (NASDAQ:ARCB) exceeded market estimates by reporting adjusted third-quarter earnings of $2.62 per share.
This result represented a sharp financial increase from the $1.46 per share posted last year.
Consolidated corporate revenue climbed 15% to $1.21 billion, which matched analyst consensus expectations.
The company stated its asset-based freight division generated $798.6 million due to higher daily tonnage.
The asset-light brokerage segment supported the corporate financials by contributing $446.3 million in quarterly revenue.
GAAP diluted earnings improved to $2.30 per share alongside $51.7 million in total net income.
