Why ArcBest Stock Drove Off the Road Today [Yahoo! Finance]
ArcBest Corporation (ARCB)
Last arcbest corporation earnings: 1/30 04:05 pm
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US:NASDAQ Investor Relations:
arcb.com/investor-relations
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Source: Yahoo! Finance
transportation and logistics provider traded down 13% as of 2:30 p.m. ET following the release of its quarterly earnings report. A cool climate for demand ArcBest investors were likely fearing the worst, ahead of the company's earnings release. A number of trucking stocks that have already reported, including industry juggernaut Old Dominion Freight Line , have posted disappointing quarters due to sluggish demand from large shipping customers. ArcBest was no different. The company earned $1.34 per share in the quarter on sales of $1 billion, which was light compared to the expected $1.53 per share in earnings on revenue of $1.03 billion. Revenue was down 3%, and total shipments per day decreased by 6.2% year over year. The trucking industry rebounded well after the pandemic on inventory restocking due to soaring demand for consumer goods, but large shippers turned cautious in 2023 amid signs that the economy could slow. Although the recession that some were fearing hasn't mate
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ARCB
News
- ArcBest Co. (NASDAQ: ARCB) had its price target lowered by analysts at Stifel Nicolaus from $159.00 to $150.00. They now have a "buy" rating on the stock.MarketBeat
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- ArcBest Co. (NASDAQ: ARCB) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
ARCB
Earnings
- 4/30/24 - Miss
ARCB
Sec Filings
- 5/14/24 - Form 4
- 5/14/24 - Form 4
- 5/14/24 - Form 4
- ARCB's page on the SEC website