ArcBest Q1 Adj $1.34 Misses $1.53 Estimate, Sales $1.04B Beat $1.03B Estimate
Portfolio Pulse from Benzinga Newsdesk
ArcBest (NASDAQ:ARCB) reported Q1 earnings of $1.34 per share, missing the consensus estimate of $1.53, and sales of $1.04B, slightly above the $1.03B estimate. Earnings per share decreased by 15.19% and sales by 6.33% compared to the same period last year.
April 30, 2024 | 10:03 am
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NEGATIVE IMPACT
ArcBest reported lower than expected Q1 earnings at $1.34 per share, missing estimates by 12.42%, but sales exceeded expectations at $1.04B. Year-over-year, earnings and sales saw declines of 15.19% and 6.33%, respectively.
Missing the EPS estimate by 12.42% and the year-over-year decrease in earnings per share by 15.19% are likely to negatively impact investor sentiment in the short term. However, slightly beating sales estimates might provide some offsetting positive sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100