ArcBest Shares Fall On Q3 Revenue Miss, Productivity Gains Can't Offset Shipment Decline
Portfolio Pulse from Akanksha Bakshi
ArcBest Corp (NASDAQ:ARCB) shares fell after reporting a Q3 revenue decline of 5.8% to $1.06 billion, missing expectations. Despite productivity gains, shipment declines impacted results. Adjusted EPS also missed estimates, and shares dropped 5.22% premarket.
November 01, 2024 | 12:46 pm
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ArcBest reported a 5.8% decline in Q3 revenue to $1.06 billion, missing expectations. Despite productivity improvements, shipment declines led to a drop in adjusted EPS, causing shares to fall 5.22% premarket.
ArcBest's Q3 results showed a significant revenue decline and missed analyst expectations, leading to a drop in share price. The decline in shipments and adjusted EPS below consensus are key factors negatively impacting investor sentiment.
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