ArcBest Turns To Q1 Loss On Decreased Revenue

(RTTNews) - ArcBest Corporation (ARCB), a logistics solutions provider, Tuesday reported net loss from continuing operations of $2.91 million, or $0.12 per share for the first quarter, compared with net income of $18.85 million, or $0.75 per share, in the same quarter a year ago.

Excluding one-time items, the company posted income from continuing operations of $32.3 million, or $1.34 per share, that missed the average estimate of 12 analysts polled by Thomson-Reuters of $1.53 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter declined to $1.036 billion from $1.106 billion in the previous year. The consensus estimate was for $1.03 billion.