ARCBEST CORPORATION Reports Q2 Earnings With 20.8% Decrease in Revenue for FY2023
August 13, 2023
🌥️Earnings Overview
On July 28, 2023, ARCBEST CORPORATION ($NASDAQ:ARCB) reported their Q2 earnings for FY2023, revealing total revenue of USD 1103.5 million, a 20.8% decrease compared to the same period in the previous year. Net income for the quarter experienced a 60.5% decrease, amounting to USD 40.4 million as compared to the same quarter in the prior year.
Analysis
GoodWhale conducted an analysis of ARCBEST CORPORATION‘s financials to assess the level of risk associated with investing in the company. According to the Risk Rating calculated by GoodWhale, ARCBEST CORPORATION is a low risk investment in terms of both financial and business aspects. However, GoodWhale has detected one risk warning in the income sheet. For more information about this warning, please register on goodwhale.com. The detailed financial report provided by GoodWhale also provides additional insights into the company’s performance and areas of potential growth. As a potential investor, you can use this report to make informed decisions about your investments and to gain a better understanding of the company’s financial health. With GoodWhale’s Risk Rating, you can make sure that your investment is low-risk and that you have the most up-to-date information possible. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Arcbest Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 4.81k | 237.91 | 3.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Arcbest Corporation. More…
| Operations | Investing | Financing |
| 389.95 | -155.78 | -173.94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Arcbest Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.41k | 1.2k | 50.42 |
Key Ratios Snapshot
Some of the financial key ratios for Arcbest Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.3% | 45.5% | 5.2% |
| FCF Margin | ROE | ROA |
| 4.0% | 12.9% | 6.4% |
Peers
In the trucking and logistics industry, there is intense competition between ArcBest Corp and its competitors: Werner Enterprises Inc, Knight-Swift Transportation Holdings Inc, XPO Logistics Inc. All of these companies are vying for market share and customers, and each has its own strengths and weaknesses. ArcBest Corp has been able to stay ahead of the competition by offering its customers superior service and innovative solutions.
– Werner Enterprises Inc ($NASDAQ:WERN)
Werner Enterprises, Inc. is a transportation and logistics company. The Company operates through two segments: Transportation Services and Werner Logistics. The Company offers its services to a customer base, which includes retail, manufacturing, construction, wholesale, food and beverage, and energy customers. The Company’s operating companies include Werner Enterprises, Inc., Werner Logistics, Inc. and Werner Enterprises International, Inc. The Company operates in the United States, Canada, Mexico, China and Australia.
– Knight-Swift Transportation Holdings Inc ($NYSE:KNX)
Knight-Swift Transportation Holdings Inc is one of the largest trucking companies in North America with a market cap of 7.76B as of 2022. It has a Return on Equity of 11.12%. The company operates in the trucking and logistics industry and offers a variety of services including transportation of goods, warehousing, and distribution. It has a fleet of over 16,000 trucks and employs over 22,000 people.
– XPO Logistics Inc ($NYSE:XPO)
XPO Logistics, Inc. is a top ten global logistics provider of transportation and logistics solutions. The company operates in 32 countries and employs over 89,000 people. XPO Logistics is a publicly traded company with a market capitalization of $3.87 billion as of 2022. The company has a return on equity of 44.59%. XPO Logistics provides transportation and logistics solutions for customers in a variety of industries, including retail, e-commerce, manufacturing, food and beverage, and healthcare. The company offers services such as truckload brokerage, intermodal, last mile logistics, warehousing and distribution, and supply chain management.
Summary
ARCBEST CORPORATION reported their FY2023 Q2 earnings on July 28 2023. Total revenue declined by 20.8% compared to the prior year, while net income decreased by 60.5%. This could be a concern for investors as the company is not meeting expected performance levels.
However, it is important to take into consideration the current economic environment and the effect it may have had on their earnings. Overall, investors should research further to make an informed decision on whether to invest in ARCBEST CORPORATION.
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