×

ArcBest beats 3Q profit forecasts

FORT SMITH, Ark. (AP) _ ArcBest Corp. (ARCB) on Friday reported third-quarter profit of $14.8 million.

On a per-share basis, the Fort Smith, Arkansas-based company said it had profit of 56 cents. Earnings, adjusted for restructuring costs and non-recurring costs, came to 59 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The freight transportation and logistics company posted revenue of $744.3 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $746.2 million.

ArcBest shares have risen 19 percent since the beginning of the year. The stock has increased 47 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