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

Discussion in 'ABF Freight System' started by Sumting Wong, May 5, 2017.

  1. Sumting Wong

    Sumting Wong Member

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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
     
  2. Sumting Wong

    Sumting Wong Member

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    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
     
  3. Sumting Wong

    Sumting Wong Member

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    ".... 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???
     
  4. Sumting Wong

    Sumting Wong Member

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    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.
     
  5. Sumting Wong

    Sumting Wong Member

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    "....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.......
     
  6. Sumting Wong

    Sumting Wong Member

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    ".... ArcBest's international revenue and margins were weaker due to the lingering effects of disruption in the ocean shipping market....."
     
  7. SAC75

    SAC75 Well-Known Member

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    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?
     
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  8. ABFer

    ABFer Super Moderator Staff Member

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    Panther would fall into this category and maybe one or two of those other companies that they bought.
     
  9. Freightmaster1

    Freightmaster1 Well-Known Member

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  10. ABFer

    ABFer Super Moderator Staff Member

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  11. Sumting Wong

    Sumting Wong Member

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    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.
     
  12. Freightmaster1

    Freightmaster1 Well-Known Member

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  13. LTLAnonymous

    LTLAnonymous Active Member

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    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.
     
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  14. ABFer

    ABFer Super Moderator Staff Member

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    It seems that the stock drops to $4.00 per share every time the contract comes up.
     
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  15. LTLAnonymous

    LTLAnonymous Active Member

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    Well how else are you going to show your employees how little they are worth without insulting them?
     
  16. bigtruk_us

    bigtruk_us Well-Known Member

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    Seen a Panther rig pulling a nice flatbed trailer with load..didnt know they were into flatbeds
     
  17. canaryinthemine

    canaryinthemine Retirement....The Job I Was Born To Have!

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    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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  18. silent trucker

    silent trucker Well-Known Member

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    Guess they shouldn't have fired Mike M.
     
  19. canaryinthemine

    canaryinthemine Retirement....The Job I Was Born To Have!

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    My guess is that they shouldn't've hired an outsider in the first place..........Probably take years to get back on track.......
     
  20. LTLAnonymous

    LTLAnonymous Active Member

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    Were things going better with him around?

    My opinion is that things have been headed downhill for a long time.
     

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