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ArcBest tops 4Q profit forecasts

FORT SMITH, Ark. (AP) _ ArcBest Corp. (ARCB) on Wednesday reported fourth-quarter net income of $36.6 million.

On a per-share basis, the Fort Smith, Arkansas-based company said it had profit of $1.37. Earnings, adjusted for one-time gains and costs, were 42 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The freight transportation and logistics company posted revenue of $710.7 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $722.5 million.

For the year, the company reported profit of $59.7 million, or $2.25 per share. Revenue was reported as $2.83 billion.

ArcBest shares have increased slightly since the beginning of the year. The stock has increased 12 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARCB at https://www.zacks.com/ap/ARCB