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ArcBest (ARCB) to Report Q2 Earnings: What's in the Offing?
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ArcBest Corporation (ARCB - Free Report) is scheduled to report second-quarter 2021 earnings numbers on Aug 2, 2021, before market open.
The company has a stellar surprise record with its earnings having surpassed the Zacks Consensus Estimate in each of the last four quarters, the average being in excess of 100%.
Moreover, the Zacks Consensus Estimate for second-quarter earnings has been revised 6.7% upward in the past 60 days.
Against this backdrop, let’s take a look at the factors that might have shaped the company’s June-quarter performance.
We expect ArcBest’s performance In the June quarter to have been aided by the improving freight conditions in the United States. Rising freight demand is expected to have driven revenues in its asset-based business, which accounts for bulk of the top line. The Zacks Consensus Estimate for second-quarter revenues from asset-based business currently stands at $635 million, indicating 14.2% growth from the figure reported in first-quarter 2021.
Total billed revenue per hundredweight on asset-based shipments is likely to have increased on the company’s asset-based pricing initiatives. The Zacks Consensus Estimate for the metric (excluding fuel surcharges) implies an increase of 3.1% from the first-quarter 2021 reported value. Backed by its efforts to cut costs, the segment’s operating ratio (operating expenses as a percentage of revenues) might have improved in the to-be-reported quarter. However, professional driver shortages, resulting in reduced truck capacity, might have dented the quarterly performance.
What Does the Zacks Model Say?
The proven Zacks model does not predict an earnings beat for ArcBest this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: ArcBest has an Earnings ESP of -0.21%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ArcBest sports a Zacks Rank of 1, currently.
Highlights of Q1 Earnings
ArcBest’s earnings (excluding 14 cents from non-recurring items) of $1.01 per share surpassed the Zacks Consensus Estimate of 59 cents. Operating revenues of $829.2 million too surpassed the consensus mark of $810.6 million and increased 18.2% on a year-over-year basis.
Stocks to Consider
Investors interested in the broader Transportation sector may consider Genco Shipping & Trading Limited (GNK - Free Report) , Eagle Bulk Shipping and Mesa Air Group (MESA - Free Report) as these stocks possess the right combination of elements to beat on earnings this reporting cycle.
Genco Shipping has an Earnings ESP of +11.81% and is Zacks #1 Ranked, presently. The company will release second-quarter 2021 results on Aug 4.
Eagle Bulk Shipping has an Earnings ESP of +5.98% and a Zacks Rank #3 at present. The company will release second-quarter 2021 results on Aug 5.
Mesa has an Earnings ESP of +15.56% and is currently a #3 Ranked player. The company will release third-quarter fiscal 2021 results on Aug 9.
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ArcBest (ARCB) to Report Q2 Earnings: What's in the Offing?
ArcBest Corporation (ARCB - Free Report) is scheduled to report second-quarter 2021 earnings numbers on Aug 2, 2021, before market open.
The company has a stellar surprise record with its earnings having surpassed the Zacks Consensus Estimate in each of the last four quarters, the average being in excess of 100%.
ArcBest Corporation Price and EPS Surprise
ArcBest Corporation price-eps-surprise | ArcBest Corporation Quote
Moreover, the Zacks Consensus Estimate for second-quarter earnings has been revised 6.7% upward in the past 60 days.
Against this backdrop, let’s take a look at the factors that might have shaped the company’s June-quarter performance.
We expect ArcBest’s performance In the June quarter to have been aided by the improving freight conditions in the United States. Rising freight demand is expected to have driven revenues in its asset-based business, which accounts for bulk of the top line. The Zacks Consensus Estimate for second-quarter revenues from asset-based business currently stands at $635 million, indicating 14.2% growth from the figure reported in first-quarter 2021.
Total billed revenue per hundredweight on asset-based shipments is likely to have increased on the company’s asset-based pricing initiatives. The Zacks Consensus Estimate for the metric (excluding fuel surcharges) implies an increase of 3.1% from the first-quarter 2021 reported value. Backed by its efforts to cut costs, the segment’s operating ratio (operating expenses as a percentage of revenues) might have improved in the to-be-reported quarter. However, professional driver shortages, resulting in reduced truck capacity, might have dented the quarterly performance.
What Does the Zacks Model Say?
The proven Zacks model does not predict an earnings beat for ArcBest this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: ArcBest has an Earnings ESP of -0.21%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ArcBest sports a Zacks Rank of 1, currently.
Highlights of Q1 Earnings
ArcBest’s earnings (excluding 14 cents from non-recurring items) of $1.01 per share surpassed the Zacks Consensus Estimate of 59 cents. Operating revenues of $829.2 million too surpassed the consensus mark of $810.6 million and increased 18.2% on a year-over-year basis.
Stocks to Consider
Investors interested in the broader Transportation sector may consider Genco Shipping & Trading Limited (GNK - Free Report) , Eagle Bulk Shipping and Mesa Air Group (MESA - Free Report) as these stocks possess the right combination of elements to beat on earnings this reporting cycle.
Genco Shipping has an Earnings ESP of +11.81% and is Zacks #1 Ranked, presently. The company will release second-quarter 2021 results on Aug 4.
Eagle Bulk Shipping has an Earnings ESP of +5.98% and a Zacks Rank #3 at present. The company will release second-quarter 2021 results on Aug 5.
Mesa has an Earnings ESP of +15.56% and is currently a #3 Ranked player. The company will release third-quarter fiscal 2021 results on Aug 9.