ArcBest (ARCB) Tops Q4 EPS by 8c, Revenues Beat

ArcBest (NASDAQ: ARCB) reported Q4 EPS of $1.01, $0.08 better than the analyst estimate of $0.93. Revenue for the quarter came in at $774.3 million versus the consensus estimate of $767.64 million.

"Strong fourth quarter results capped a year of significant achievements and financial performance at ArcBest including revenue topping $3 billion and the highest non-GAAP earnings per share in our history," said Chairman, President & CEO Judy McReynolds. "A thriving U.S. economy provided an excellent backdrop for us to proactively solve more of our customers' supply chain needs through comprehensive logistics solutions. Careful account management and pricing initiatives to ensure we are compensated for the value we provide resulted in solid revenue growth and better account profitability in our Asset-Based business, and our Asset-Light business posted solid improvements in operating income."

McReynolds stated that efforts to return to historic margins in the Asset-Based business gained momentum despite a tight labor market, even as U.S. unemployment reached record lows and driver shortages were the norm across the industry. "One of the major achievements of the year, a new five-year collective bargaining agreement with the International Brotherhood of Teamsters, provides us stability, low cost inflation and a strong foundation upon which to continue innovating on behalf of customers, and we are excited about the substantial growth opportunities that remain available to us across the organization," McReynolds said.

For earnings history and earnings-related data on ArcBest (ARCB) click here.

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