ArcBest Corporation (NASDAQ: ARCB) rose Friday after reporting strong Q3 earnings.
The company, based in Fort Smith, Arkansas, is a leading logistics company with creative problem solvers who deliver integrated solutions
Revenue of $826.2 million compared to third quarter 2017 revenue of $744.3 million, representing another record level of quarterly consolidated revenue for ArcBest. Third-quarter 2018 operating income was $56.1 million compared to operating income of $26.7 million in the same quarter last year.
Net income was $40.8 million, or $1.52 per diluted share compared to third quarter 2017 net income of $14.8 million, or $0.56 per diluted share.
CEO Judy McReynolds paid tribute to “our sales, yield and operations teams – supported by significant technology investments we have made over the last several years – (which) are doing an excellent job helping our customers navigate the industry capacity shortage while ensuring that ArcBest receives the appropriate value for our services.
What’s more, Friday, the company also lauded its less-than-truckload carrier ABF Freight® for winning a 2018 SmartWay Freight Carrier Excellence Award.
Each year, the U.S. Environmental Protection Agency recognizes the top freight carriers for superior environmental performance and additional actions to reduce freight emissions.
ABF Freight has been a SmartWay partner since 2006 and received a SmartWay Excellence Award in 2014.
The company’s shares wound their way into Friday’s close in a big way, having ballooned $5.20, or 14.1%, to $42.10.
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