ArcBest Corporation (ARCB) Q3 2024 Earnings Call Transcript
ArcBest Corporation (NASDAQ:ARCB ) Q3 2024 Earnings Conference Call November 1, 2024 9:30 AM ET Company Participants Amy Mendenhall - Vice President, Treasury and Investor Relations Judy R. McReynolds - Chairman and Chief Executive Officer Seth Runser - President Matt Beasley - Chief Financial Officer Christopher Adkins - Vice President, Yield Strategy and Management Matt Godfrey - President of ABF Freight Steven Leonard - Chief Commercial Officer and President, Asset-Light Logistics Conference Call Participants Jason Seidl - TD Cowen Ravi Shanker - Morgan Stanley Jordan Alliger - Goldman Sachs Daniel Imbro - Stephens Ken Hoexter - Bank of America Tom Wadewitz - UBS Brian Ossenbeck - J.P.Morgan Chris Wetherbee - Wells Fargo Scott Group - Wolfe Research Bruce Chan - Stifel Ben Moore - Citi Stephanie Moore - Jefferies Operator Good morning, and welcome to the ArcBest Third Quarter 2024 Earnings Conference Call.
Here's What Key Metrics Tell Us About ArcBest (ARCB) Q3 Earnings
The headline numbers for ArcBest (ARCB) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
ArcBest (ARCB) Q3 Earnings and Revenues Miss Estimates
ArcBest (ARCB) came out with quarterly earnings of $1.64 per share, missing the Zacks Consensus Estimate of $1.84 per share. This compares to earnings of $2.31 per share a year ago.
Earnings Preview: ArcBest (ARCB) Q3 Earnings Expected to Decline
ArcBest (ARCB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
These Analysts Revise Their Forecasts On ArcBest Following Q2 Results
ArcBest Corporation ARCB reported worse-than-expected second-quarter adjusted EPS results on Friday.
ArcBest Corporation (ARCB) Q2 2024 Earnings Call Transcript
ArcBest Corporation (NASDAQ:ARCB ) Q2 2024 Earnings Conference Call August 2, 2024 9:30 AM ET Company Participants Amy Mendenhall - Vice President, Treasury and Investor Relations Judy McReynolds - Chairman, President & CEO Seth Runser - President-ABF Freight Matt Beasley - CFO Christopher Adkins - Vice President, Yield Strategy and management Conference Call Participants Jason Seidl - TD Cowen Daniel Imbro - Stephens Jordan Alliger - Goldman Sachs Ken Hoexter - Bank of America Merrill Lynch Matthew Milask - Stifel Thomas Wadewitz - UBS Christian Wetherbee - Wells Fargo Brian Ossenbeck - JPMorgan Stephanie Moore - Jefferies Jeffrey Kauffman - Vertical Research Partners Ravi Shanker - Morgan Stanley Operator Thank you for standing by. My name is Danica and I will be your conference operator today.
ArcBest (ARCB) Reports Q2 Earnings: What Key Metrics Have to Say
The headline numbers for ArcBest (ARCB) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
ArcBest (ARCB) Q2 Earnings Miss Estimates
ArcBest (ARCB) came out with quarterly earnings of $1.98 per share, missing the Zacks Consensus Estimate of $2.03 per share. This compares to earnings of $1.54 per share a year ago.
ArcBest (ARCB) Earnings Expected to Grow: Should You Buy?
ArcBest (ARCB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
New Strong Sell Stocks for June 11th
ARCB, AUB and BGS have been added to the Zacks Rank #5 (Strong Sell) List on June 11, 2024.
Stock Market Crash Warning: Don't Get Caught Holding These 3 Transportation Stocks
Transportation stocks have been under duress of late. The Dow Jones Transportation Index is up 5% in the past six months, lagging the S&P 500's 18% gain.
ArcBest Co. (NASDAQ:ARCB) Shares Sold by Panagora Asset Management Inc.
Panagora Asset Management Inc. cut its position in ArcBest Co. (NASDAQ:ARCB – Free Report) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,919 shares of the transportation company’s stock after selling 703 shares during the period. Panagora Asset Management Inc. owned 0.11% of ArcBest worth $3,116,000 as of its most recent filing with the Securities and Exchange Commission. A number of other hedge funds and other institutional investors have also modified their holdings of ARCB. Allworth Financial LP increased its holdings in ArcBest by 15,450.0% in the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock valued at $32,000 after buying an additional 309 shares during the last quarter. GAMMA Investing LLC purchased a new stake in ArcBest during the fourth quarter worth approximately $39,000. Quadrant Capital Group LLC boosted its holdings in ArcBest by 51.9% in the fourth quarter. Quadrant Capital Group LLC now owns 597 shares of the transportation company’s stock valued at $72,000 after purchasing an additional 204 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in ArcBest in the third quarter valued at approximately $203,000. Finally, First Heartland Consultants Inc. acquired a new stake in ArcBest during the third quarter worth approximately $204,000. 99.27% of the stock is currently owned by institutional investors and hedge funds. ArcBest Stock Performance Shares of ARCB stock opened at $113.78 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $132.64 and a 200-day simple moving average of $127.24. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 0.60 and a beta of 1.56. ArcBest Co. has a 12-month low of $82.18 and a 12-month high of $153.60. ArcBest (NASDAQ:ARCB – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.19). The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. On average, equities analysts forecast that ArcBest Co. will post 8.52 EPS for the current year. ArcBest Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.42%. ArcBest’s dividend payout ratio is presently 9.66%. Insider Activity In other news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.65% of the company’s stock. Analyst Ratings Changes A number of research analysts recently commented on ARCB shares. Stephens increased their target price on shares of ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. UBS Group cut their target price on ArcBest from $150.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group upped their target price on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. cut their price target on ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, StockNews.com downgraded ArcBest from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.69. Check Out Our Latest Analysis on ARCB ArcBest Company Profile (Free Report) ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.
