Logistics Company ArcBest's Q3 Revenue & Profit Plunge Y/Y; Topline Misses By A Whisker
Portfolio Pulse from Akanksha Bakshi
ArcBest Corp reported Q3 FY23 revenue of $1.128 billion, a decline of 11.6% year-over-year, slightly missing the consensus of $1.13 billion. Adjusted EPS was $2.31, above the consensus of $1.50. Operating income from continuing operations was $45.09 million, a decrease of 60.9% Y/Y. The company's Asset-Based and Asset-Light segments also saw declines. ArcBest has settled repurchases of 798,818 shares of common stock for $76.8 million under the current repurchase plan.
October 27, 2023 | 1:08 pm
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ArcBest's Q3 FY23 results showed a decline in revenue and operating income. The company's Asset-Based and Asset-Light segments also saw declines. However, the company's adjusted EPS was above consensus.
ArcBest's Q3 FY23 results showed a decline in revenue and operating income, which could negatively impact investor sentiment and potentially lead to a decrease in the company's stock price. However, the company's adjusted EPS was above consensus, which could provide some positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100