ArcBest reports Q1 EPS $1.58, consensus $1.80

Reports Q1 revenue $1.11B, consensus $1.18B. "By focusing on our customers and advancing our strategic initiatives, ArcBest achieved another profitable quarter with solid results," said Judy McReynolds, ArcBest chairman, president and CEO. "In the first quarter, we launched our revolutionary freight movement technology, Vaux, as we continued to grow our customer base and better utilize available network capacity to increase tonnage. In addition, we completed the sale of FleetNet, which strengthened our balance sheet and positioned ArcBest to further accelerate the return of capital to shareholders. Our team is committed to our long-term financial and operational goals while we manage through short term market changes. As ArcBest celebrates its 100th anniversary this year, I’m proud of the ArcBest team for their adaptability and spirit of innovation, and I am grateful to our customers, who trust us each day to help them build and manage effective supply chains."