ArcBest Posts Second Quarter Income Of $24 Million

Fewer and lighter shipments resulting from a “moderated” economy put a cap on ArcBest’s financials in the second quarter, but the Fort Smith-based transportation holding company still managed to post net income of more than $24 million.

The company reported Wednesday (July 31) that second quarter net income was $24.376 million, well ahead of the $1.233 million in the same quarter of 2018. Per share earnings of 92 cents missed the consensus estimate of stock watchers of 94 cents.

Second quarter revenue totaled $771.49 million, down 2.8% from the $793.35 million in the same quarter of 2018. The revenue also missed the consensus estimate of $779.86 million.      MORE

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