ArcBest Corp. (ARCB) released earnings for its second quarter that increased from last year but missed the Street estimates.
The company's bottom line came in at $46.92 million, or $1.96 per share. This compares with $39.60 million, or $1.60 per share, in last year's second quarter.
Excluding items, ArcBest Corp. reported adjusted earnings of $47.38 million or $1.98 per share for the period.
Analysts on average had expected the company to earn $2.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 2.3% to $1.078 billion from $1.103 billion last year.
ArcBest Corp. earnings at a glance (GAAP) :
-Earnings (Q2): $46.92 Mln. vs. $39.60 Mln. last year.
-EPS (Q2): $1.96 vs. $1.60 last year.
-Revenue (Q2): $1.078 Bln vs. $1.103 Bln last year.
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