ARCB - Logistics Company ArcBest's Q3 Revenue & Profit Plunge Y/Y; Topline Misses By A Whisker | Benzinga
ArcBest Corp (NASDAQ: ARCB) reported third-quarter FY23 revenue declined by 11.6% year-over-year to $1.128 billion, marginally missing the consensus of $1.13 billion.
Adjusted EPS was $2.31 compared to $3.79 in 3Q22, above the consensus of $1.50.
Operating income from continuing operations was $45.09 million (-60.9% Y/Y), and the margin contracted by 504 bps to 4%.
Sales by segments: Asset-Based $741.19 million (-6.4% Y/Y), and Asset-Light $419.31 million (-18.6% Y/Y).
Asset-Based business total tonnage ...