ArcBest (ARCB) Tops Q4 EPS by 7c, Revenues Beat

ArcBest (NASDAQ: ARCB) reported Q4 EPS of $0.97, $0.07 better than the analyst estimate of $0.90. Revenue for the quarter came in at $816.4 million versus the consensus estimate of $800.21 million.

"Year-over-year fourth quarter revenue growth of nearly 14 percent and non-GAAP operating income growth of nearly 86 percent reflects improvements in the demand for our integrated capacity solutions in this environment, and effective cost management," said ArcBest chairman, president and CEO, Judy R. McReynolds.

ArcBest's full year 2020 revenue totaled $2.9 billion compared to $3.0 billion in 2019. Net income was $71.1 million, or $2.69 per diluted share, compared to net income of $40.0 million, or $1.51 per diluted share in 2019. On a non-GAAP basis, ArcBest's 2020 net income was $85.4 million, or $3.23 per diluted share, compared to net income of $76.3 million, or $2.88 per diluted share, in 2019.

ABF Freight will pay a profit-sharing bonus to union-represented employees. As provided for in the 2018 collective bargaining agreement, the bonus is the result of achieving a 95.3 percent ABF Freight operating ratio in 2020. "I'm proud of our ABF Freight team and I'm very pleased we are able to pay this bonus," said McReynolds.

Quarterly Dividends and Share Repurchase Program

During 2020, ArcBest increased shareholder returns through payment of an eight cent per share quarterly dividend and purchase of ArcBest shares valued at approximately $6.6 million. These actions to enhance shareholder returns are expected to continue in 2021. As recently announced, ArcBest restored the authorized amount of its share repurchase program for future purchases of ArcBest common stock to $50 million.

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

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