ArcBest Q2 revenue rises 16% on higher weight per shipment
ARCB•Outlook and analyst coverage
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Company says progress on pricing, cost management and efficiency initiatives to continue.
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ArcBest notes a more constructive operating environment for logistics and supply chain services.
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Company continues to invest in technology and operating efficiency to support future growth.
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The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell".
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The average consensus recommendation for the ground freight & logistics peer group is "buy".
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Wall Street's median 12-month price target for ArcBest Corp (Texas) is $175.50, about 17.4% above its July 28 closing price of $149.48.
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The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 19 three months ago.
Quarterly revenue and earnings
- U.S. supply chain logistics firm's Q2 revenue rose, slightly beating analyst expectations.
- Adjusted EPS for Q2 rose yr/yr, excluding impairment and restructuring charges.
- Company posted a Q2 net loss due to impairment and restructuring charges.
