ArcBest Corp. (ARCB) announced a decrease in profit for the fourth quarter compared to the same period last year, although the results surpassed analysts' expectations. The company reported a net income of $29.04 million, or $1.24 per share, down from $48.79 million, or $2.01 per share, in the previous year. When excluding certain items, the adjusted earnings for ArcBest Corp. stood at $31.20 million or $1.33 per share for the quarter.
Market analysts had projected the company to post earnings of $1.05 per share, typically not accounting for special items in their forecasts.
The company's revenue for the quarter saw a decline of 8.1%, reaching $1.001 billion, compared to $1.089 billion the previous year.
To summarize ArcBest Corp.'s performance under Generally Accepted Accounting Principles (GAAP):
- Earnings: $29.04 million, compared to $48.79 million last year.
- Earnings Per Share (EPS): $1.24, compared to $2.01 last year.
- Revenue: $1.001 billion, compared to $1.089 billion last year.
