ArcBest Corporation is a logistics and transportation company that specializes in providing integrated supply chain solutions. It offers a comprehensive range of services including freight transportation, logistics management, and supply chain consulting. With a robust network of transportation options, ArcBest caters to various industries by optimizing shipping efficiency and reducing costs. The company emphasizes technology and innovation to enhance its operational capabilities, ensuring timely and reliable delivery of goods across North America. Through its diverse services, ArcBest aims to meet the complex needs of its customers in an ever-evolving market landscape.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Universal Logistics (NASDAQ:ULH) and the best and worst performers in the ground transportation industry.
Freight Delivery Company ArcBest (NASDAQ:ARCB) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 5.8% year on year to $1.06 billion. Its non-GAAP profit of $1.64 per share was 11.4% below analysts’ consensus estimates.
ArcBest reported Q2 FY24 revenue of $1.08B, beating consensus of $1.06B. Asset-based business total tonnage per day decreased by 20.3%, and total shipments per day fell by 4.8% Y/Y.
