ArcBest (ARCB) announced its financial results for the third quarter, citing a net income of $100.3 million, equivalent to $4.23 per share, a significant increase from the previous year's $34.9 million, or $1.42 per share. On a non-GAAP basis, the company's net income stood at $38.8 million, or $1.64 per share, contrasting with $56.7 million, or $2.31 per share from the year prior. According to Thomson Reuters, 13 analysts had forecasted an earnings per share of $1.83 for the quarter, excluding any special items typically left out of such projections.
ArcBest's revenue reached $1.06 billion, a slight dip from the $1.13 billion recorded in the third quarter of 2023. Analysts had anticipated revenue of approximately $1.07 billion.
