Arkansas Best Corporation (NASDAQ:ABFS) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Arkansas Best Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $0.18 in the quarter as EPS of $0.18 in the year-earlier quarter.
Revenue: Rose 13% to $576.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Arkansas Best Corporation reported adjusted EPS income of $0.18 per share. By that measure, the company missed the mean analyst estimate of $0.20. It beat the average revenue estimate of $572.48 million.
Quoting Management: “We achieved a major milestone for our company in recent weeks with the ratification of a national five-year labor contract at ABF and most supplemental agreements. We expect to obtain employee ratification of all remaining supplements in the coming weeks,” said Arkansas Best President and Chief Executive Officer Judy R. McReynolds. “Once this important process is concluded, it will represent a pivotal moment for Arkansas Best, as we will be able to turn our undivided attention to driving improved profitability at ABF, while continuing the expansion and growth of our emerging businesses. As our customers look to us for total solutions to their complex supply chain needs, we are now better positioned than at any time in our history to fulfill those requirements.”
Key Stats (on next page)…
Revenue increased 10.8% from $520.69 million in the previous quarter. EPS increased to $0.18 in the quarter versus EPS of $-0.52 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.34 to a profit $0.42. For the current year, the average estimate has moved up from a profit of $0.07 to a profit of $0.23 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)