ArcBest (ARCB) Meteoric RiseFor the quarter ended September 2023, ArcBest (ARCB) reported revenue of $1.13 billion, down 16.5% over the same period last year. EPS came in at $2.31, compared to $3.80 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.14 billion, representing a surprise of -1.01%. The company delivered an EPS surprise of +49.03%, with the consensus EPS estimate being $1.55.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ArcBest performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Asset-Light - Operating Ratio (Non-GAAP): 100.9% versus 99.8% estimated by two analysts on average.
Asset-Based - Operating Ratio (Non-GAAP): 88.8% compared to the 92.7% average estimate based on two analysts.
Revenues- Asset-Based: $741.19 million compared to the $727.41 million average estimate based on three analysts. The reported number represents a change of -6.4% year over year.
Revenues- Asset-Light: $419.31 million versus $405.60 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -30.6% change.
Revenues- Other and eliminations: -$32.15 million versus -$28.50 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -27.3% change.
Operating income Non-GAAP- Asset-Based: $82.81 million compared to the $56.29 million average estimate based on two analysts.
Operating income Non-GAAP- Other and eliminations: -$4.20 million compared to the -$6 million average estimate based on two analysts.
Operating income Non-GAAP- Asset-Light: -$3.95 million versus -$0.81 million estimated by two analysts on average.
Technical Analysis
ARCB is trading in the middle of its 52-week range and above its 200-day simple moving average. The price of ARCB shares has increased $14.27 since the market last closed. This is a 16.22% rise.
What does this mean?
Investors are applying buying pressure to ARCB shares today.
