Old Dominion's Q1 earnings meet estimate, but LTL stocks fall anyway [Yahoo! Finance]
ArcBest Corporation (ARCB)
Last arcbest corporation earnings: 1/30 04:05 pm
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Source: Yahoo! Finance
However, its operating ratio guidance for the second quarter was weaker than the historical trend, which may be the reason shares of less-than-truckload carriers sold off on Wednesday. Old Dominion ( NASDAQ: ODFL ) reported earnings per share of $1.34 for the 2024 first quarter, which was in line with the consensus estimate and 5 cents ahead of the year-ago result when accounting for the company's March two-for-one stock split. The in-line result wasn't enough for investors. Shares of ODFL were down 10.9% at 12:46 p.m. EDT Wednesday compared to the S&P 500, which was down 0.5%. Other LTL competitors saw shares sag as well. ArcBest ( NASDAQ: ARCB ) was down 8.4%, XPO ( NYSE: XPO ) was down 7.3% and Saia ( NASDAQ: SAIA ) was off 5.9%. Old Dominion's revenue increased 1.2% year over year (y/y) to $1.46 billion as tonnage fell 3.2% (shipments and weight per shipment were down 0.5% and 2.7%, respectively), which was offset by a 4.1% increase in revenue per hundredweight, or yield.
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News
- Why XPO Stock Is Cruising Today [Yahoo! Finance]Yahoo! Finance
- ArcBest Co. (NASDAQ: ARCB) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- ArcBest Co. (NASDAQ: ARCB) had its price target lowered by analysts at Bank of America Co. from $143.00 to $110.00. They now have an "underperform" rating on the stock.MarketBeat
- ArcBest Co. (NASDAQ: ARCB) had its price target lowered by analysts at UBS Group AG from $150.00 to $126.00. They now have a "neutral" rating on the stock.MarketBeat
- ArcBest Co. (NASDAQ: ARCB) had its price target lowered by analysts at JPMorgan Chase & Co. from $164.00 to $145.00. They now have an "overweight" rating on the stock.MarketBeat
ARCB
Earnings
- 4/30/24 - Miss
ARCB
Sec Filings
- 5/3/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 4/30/24 - Form 8-K
- ARCB's page on the SEC website