ABF | ArcBest reports 1Q loss... Shares down $5.10 to $21.15

Sumting Wong

TB Lurker
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FORT SMITH, Ark. (AP) _ ArcBest Corp. (ARCB) on Friday reported a loss of $7.4 million in its first quarter.

On a per-share basis, the Fort Smith, Arkansas-based company said it had a loss of 29 cents. Losses, adjusted for restructuring costs and non-recurring costs, were 22 cents per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.

The freight transportation and logistics company posted revenue of $651.1 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $658.9 million.

ArcBest shares have decreased 5 percent since the beginning of the year. The stock has climbed 55 percent in the last 12 months.

https://finance.yahoo.com/news/arcbest-reports-1q-loss-101723436.html
 
The consolidated non-GAAP operating results comparison was impacted by a $2.0 million increase in the "Other and eliminations" loss driven by previously highlighted investments in technology development toward enhancing the ArcBest customer experience and the ability to offer comprehensive transportation and logistics services across multiple operating segments.

https://finance.yahoo.com/news/arcbest-announces-first-quarter-2017-100000967.html
 
".... but also experienced some changing freight characteristics on the less-than-truckload side and a degree of weaker demand, particularly in the truckload sector," said ArcBest Chairman, President and CEO Judy R. McReynolds. ...."

".........particularly in the truckload sector...." When did we get into the truckload sector???
 
First Quarter 2017 Versus First Quarter 2016

  • Revenue of $464.4 million compared to $439.1 million, a per-day increase of 4.9 percent.
  • Tonnage per day decrease of 0.7 percent.
  • Shipments per day increase of 5.7 percent.
  • Total billed revenue per hundredweight increased 6.3 percent and was positively impacted by changes in shipment profile and higher fuel surcharges. Excluding fuel surcharge, the percentage increase on ArcBest's Asset-Based LTL freight was in the low-single digits.
  • Operating loss of $10.0 million and an operating ratio of 102.2 percent compared to an operating loss of $9.0 million and an operating ratio of 102.0 percent. On a non-GAAP basis, an operating loss of $8.5 million and an operating ratio of 101.9 percent compared to an operating loss of $8.3 million and an operating ratio of 101.8 percent.
 
"....Recent trends of Asset-Based shipment growth continued, resulting in the need for increased amounts of freight handling labor and purchased transportation resources. Equipment repositioning costs continued to be meaningfully below last year while first quarter freight handling productivity improved slightly. Though first quarter equipment maintenance expenses were higher, new replacement tractors, scheduled to be delivered throughout the second quarter, are expected to further improve linehaul equipment efficiencies, positively impact maintenance costs and contribute to lower city pickup and delivery costs. Increased severity of healthcare claims unfavorably affected those costs during the quarter. ...."

"....increased amounts of freight handling labor and purchased transportation resources....."

Purchased transportation increased yet loss increased??? Hmmm.......
 
".... ArcBest's international revenue and margins were weaker due to the lingering effects of disruption in the ocean shipping market....."
 
They just gave the investors .08 cents a share. Why so much? They used to give .03 cents a share before the last contract. Weird huh?
 
https://seekingalpha.com/article/40...k7n:5034d92cc61a4573aef9e373d2fffe24&uprof=51

Get ready for the weeping and gnashing of teeth by Judy and her henchmen in Ft. Smith as contract negotiations for ABF Freight start later this year!

SaGxm5Q.jpg

:crybaby:
 
ARC Best $19.75 down $6.50 for a 24.76% loss on the day
YRCW......$08.75 down $2.11 for a 19.78% loss on the day

YRCW reported a loss of $25.3 million in its first quarter for $0.78 per share
ARCB reported a loss of $07.4 million in its first quarter.for $0.29 per share

I would think that the one with the bigger loss per share would have taken the bigger percentage hit. Guess that is why I don't work on Wall Street.

The propaganda machine is about to start on why the company needs more wage concessions and more benefit concessions.
 
Union trucking is quite a strange racket for dishonest, immoral CEOs. You eek out a profit, but then start torpedoing your stock just before contract negotiations start.

I know Judy has been handing out "I teabagged the Teamsters" stickers to Wall Street since the last contract, but this sort of thing doesn't exactly build confidence for investors.
 
Union trucking is quite a strange racket for dishonest, immoral CEOs. You eek out a profit, but then start torpedoing your stock just before contract negotiations start.

I know Judy has been handing out "I teabagged the Teamsters" stickers to Wall Street since the last contract, but this sort of thing doesn't exactly build confidence for investors.
It seems that the stock drops to $4.00 per share every time the contract comes up.
 
There's a Panther refrigerated trailer sitting in a dirt lot at the north end of my town. Sits there for 10 or12 days,....gone for a few,....back again for another 10 - 12 days. Been doing that for the last 6 months. Either he has several trailers,.......... or the refrigerated freight pays wonderfully,.........or, this is a guy who's being slowly starved out of his lease..........
 
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