BofA/Merrill Lynch Upgrades ArcBest Corp (ARCB) to Neutral
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ArcBest Corporation® Announces Third Quarter 2016 Results
November 3, 2016 6:00 AM EDTFORT SMITH, Ark., Nov. 3, 2016 /PRNewswire/ -- ArcBest Corporation® (Nasdaq: ARCB) today reported third quarter 2016 net income of $12.9 million, or $0.49 per diluted share, compared to third quarter 2015 net income of $19.2 million, or $0.72 per diluted share. The continued softness in the U.S. industrial economy impacted freight tonnage levels and profit margins at ABF Freight. ArcBest's asset-light logistics companies were highlighted by improved revenue and operating profit at Panther.Â
Excluding certain items in both periods, ArcBest's non-GAAP net income was $12.7 million, or... More
