ArcBest Posts Record Quarterly Revenue

Better pricing in a transportation sector witnessing more freight demand than shipping supply helped push Fort Smith-based ArcBest to record quarterly revenue of $793.35 million, better than the consensus estimate of $786.33 million and up 10.1% compared with the same quarter in 2017.

However, second quarter net income was just $1.233 million, well below the $15.777 million in the second quarter of 2017 thanks to a $37.9 million charge for a multiemployer pension fund. Without the one-time charge, quarterly net income would have been $29.787 million, or $1.12 per share. That reality would have beat the consensus earnings per share estimate of $1.01.

The charge relates to a “transition agreement” between ArcBest and the New England Teamsters and Trucking Industry Pension Fund.    MORE

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