Stock Story -
Freight Delivery Company ArcBest (NASDAQ:ARCB) will be reporting earnings tomorrow before market hours. Here's what you need to know.
ArcBest met analysts' revenue expectations last quarter, reporting revenues of $1.04 billion, down 6.3% year on year. It was a weaker quarter for the company, with a miss of analysts' earnings estimates.
Is ArcBest a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting ArcBest's revenue to decline 4.2% year on year to $1.06 billion, improving from the 16.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.06 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ArcBest has missed Wall Street's revenue estimates five times over the last two years.
Looking at ArcBest's peers in the ground transportation segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Universal Logistics delivered year-on-year revenue growth of 12%, meeting analysts' expectations, and Landstar reported a revenue decline of 10.7%, falling short of estimates by 1.8%. Universal Logistics traded down 4.4% following the results while Landstar was also down 1.7%.
Read the full analysis of Universal Logistics's and Landstar's results on StockStory.
There has been positive sentiment among investors in the ground transportation segment, with share prices up 10% on average over the last month. ArcBest is up 18.2% during the same time and is heading into earnings with an average analyst price target of $138.8 (compared to the current share price of $128.28).
![Earnings To Watch: ArcBest (ARCB) Reports Q2 Results Tomorrow](https://d68-invdn-com.investing.com/content/pic072412003c1bbcd542f2776269091b2c.jpeg)