Yahoo Finance Q1 Earnings Highs And Lows: ArcBest (NASDAQ:ARCB) Vs The Rest Of The Ground Transportation Stocks
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how ArcBest (NASDAQ:ARCB) and the rest of the ground transportation stocks fared in Q1.
The growth of e-commerce and global trade continues to drive demand for shipping services, especially last-mile delivery, presenting opportunities for ground transportation companies. The industry continues to invest in data, analytics, and autonomous fleets to optimize efficiency and find the most cost-effective routes. Despite the essential services this industry provides, ground transportation companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies’ offerings while fuel costs can influence profit margins.
The 14 ground transportation stocks we track reported an ok Q1; on average, revenues beat analyst consensus estimates by 1.1%. Valuation multiples for many growth stocks have not yet reverted to their early 2021 highs, but the market was optimistic at the end of 2023 due to cooling inflation. The start of 2024 has been a different story as mixed signals have led to market volatility, but ground transportation stocks have shown resilience, with share prices up 9.1% on average since the previous earnings results.
ArcBest (NASDAQ:ARCB)
Historically owning furniture, banking, and other subsidiaries, ArcBest (NASDAQ:ARCB) offers full-truckload, less-than-truckload, and intermodal deliveries of freight.
ArcBest reported revenues of $1.04 billion, down 6.3% year on year, in line with analysts' expectations. Overall, it was a weaker quarter for the company with a miss of analysts' earnings estimates.
“Reflecting on the past quarter, I am proud of our employees for their commitment to excellence, which resulted in better customer service and operational efficiency gains,” said Judy R. McReynolds, ArcBest Chairman, President and CEO.
The stock is down 10.9% since reporting and currently trades at $115.21.
Read our full report on ArcBest here, it's free.
Best Q1: Universal Logistics (NASDAQ:ULH)
Founded in 1932, Universal Logistics (NASDAQ:ULH) is a provider of transportation and logistics solutions.
Universal Logistics reported revenues of $491.9 million, up 12.5% year on year, outperforming analysts' expectations by 18.1%. It was an incredible quarter for the company with an impressive beat of analysts' earnings estimates.
Universal Logistics achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 32.8% since reporting. It currently trades at $43.39.
Is now the time to buy Universal Logistics? Access our full analysis of the earnings results here, it's free.
Weakest Q1: U-Haul (NYSE:UHAL)
Founded by a husband and wife, U-Haul (NYSE:UHAL) offers truck and trailer rentals and self storage units.
U-Haul reported revenues of $1.10 billion, down 7.8% year on year, falling short of analysts' expectations by 6.1%. It was a weak quarter for the company with a miss of analysts' earnings estimates.
U-Haul posted the weakest performance against analyst estimates in the group. Interestingly, the stock is up 4.1% since the results and currently trades at $65.43.
Read our full analysis of U-Haul's results here.
Landstar (NASDAQ:LSTR)
Covering billions of miles throughout North America, Landstar (NASDAQ:LSTR) is a transportation company specializing in freight and last-mile delivery services.
Landstar reported revenues of $1.17 billion, down 18.3% year on year, surpassing analysts' expectations by 4.7%. Taking a step back, it was an exceptional quarter for the company with an impressive beat of analysts' Van Equipment revenue estimates and a decent beat of analysts' earnings estimates.
The stock is up 7.1% since reporting and currently trades at $182.91.
Read our full, actionable report on Landstar here, it's free.
Covenant Logistics (NASDAQ:CVLG)
Started with 25 trucks and 50 trailers, Covenant Logistics (NASDAQ:CVLG) is a provider of expedited long haul freight services, offering a range of logistics solutions.
Covenant Logistics reported revenues of $278.8 million, up 4.5% year on year, in line with analysts' expectations. Zooming out, it was a very strong quarter for the company with an impressive beat of analysts' Freight revenue revenue estimates and a decent beat of analysts' earnings estimates.
The stock is up 14.7% since reporting and currently trades at $50.51.
Read our full, actionable report on Covenant Logistics here, it's free.
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