FORT SMITH, Ark. (AP) — FORT SMITH, Ark. (AP) — ArcBest Corp. (ARCB) on Tuesday reported first-quarter net income of $3.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Fort Smith, Arkansas-based company said it had net income of 13 cents. Earnings, adjusted for non-recurring costs and amortization costs, were 51 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The freight transportation and logistics company posted revenue of $967.1 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $981.6 million.
ArcBest shares have decreased 37% since the beginning of the year. The stock has fallen 54% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARCB at https://www.zacks.com/ap/ARCB
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