FORT SMITH, Ark. (AP) _ ArcBest Corp. (ARCB) on Tuesday reported first-quarter earnings of $1.9 million.
On a per-share basis, the Fort Smith, Arkansas-based company said it had net income of 7 cents. Earnings, adjusted for non-recurring costs and pretax expenses, were 36 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.
The freight transportation and logistics company posted revenue of $701.4 million in the period.
ArcBest shares have fallen 30% since the beginning of the year. The stock has decreased 37% in the last 12 months.