Freight Delivery Company ArcBest (NASDAQ:ARCB) will be reporting earnings tomorrow morning. Here’s what you need to know.
ArcBest met analysts’ revenue expectations last quarter, reporting revenues of $1.00 billion, down 8.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is ArcBest a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting ArcBest’s revenue to decline 4.1% year on year to $994.2 million, improving from the 6.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.52 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ArcBest has missed Wall Street’s revenue estimates four times over the last two years.
Looking at ArcBest’s peers in the ground transportation segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Ryder delivered year-on-year revenue growth of 1.1%, meeting analysts’ expectations, and Old Dominion Freight Line reported a revenue decline of 5.8%, in line with consensus estimates. Ryder’s stock price was unchanged after the results, while Old Dominion Freight Line was up 4.4%.
Read our full analysis of Ryder’s results here and Old Dominion Freight Line’s results here.
Investors in the ground transportation segment have had fairly steady hands going into earnings, with share prices down 1.4% on average over the last month. ArcBest is down 17.1% during the same time and is heading into earnings with an average analyst price target of $92.42 (compared to the current share price of $58.50).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.