Intrinsic value of ArcBest - ARCB

Previous Close

$46.70

  Intrinsic Value

$56.45

stock screener

  Rating & Target

buy

+21%

Previous close

$46.70

 
Intrinsic value

$56.45

 
Up/down potential

+21%

 
Rating

buy

We calculate the intrinsic value of ARCB stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.90
  4.91
  4.92
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
  4.97
  4.97
  4.98
  4.98
  4.98
  4.98
  4.98
  4.99
Revenue, $m
  2,959
  3,099
  3,246
  3,401
  3,565
  3,737
  3,918
  4,108
  4,308
  4,518
  4,739
  4,972
  5,216
  5,473
  5,743
  6,027
  6,325
  6,638
  6,967
  7,312
  7,675
  8,056
  8,457
  8,877
  9,319
  9,783
  10,270
  10,782
  11,320
  11,884
Variable operating expenses, $m
  2,381
  2,493
  2,610
  2,734
  2,865
  3,002
  3,147
  3,299
  3,458
  3,626
  3,785
  3,970
  4,166
  4,371
  4,586
  4,813
  5,051
  5,301
  5,563
  5,839
  6,129
  6,434
  6,753
  7,089
  7,442
  7,812
  8,202
  8,610
  9,039
  9,490
Fixed operating expenses, $m
  520
  532
  543
  555
  568
  580
  593
  606
  619
  633
  647
  661
  675
  690
  705
  721
  737
  753
  770
  787
  804
  822
  840
  858
  877
  896
  916
  936
  957
  978
Total operating expenses, $m
  2,901
  3,025
  3,153
  3,289
  3,433
  3,582
  3,740
  3,905
  4,077
  4,259
  4,432
  4,631
  4,841
  5,061
  5,291
  5,534
  5,788
  6,054
  6,333
  6,626
  6,933
  7,256
  7,593
  7,947
  8,319
  8,708
  9,118
  9,546
  9,996
  10,468
Operating income, $m
  58
  74
  92
  112
  132
  155
  178
  203
  230
  259
  308
  341
  375
  412
  451
  493
  537
  584
  634
  686
  742
  801
  864
  930
  1,000
  1,074
  1,153
  1,236
  1,323
  1,416
EBITDA, $m
  154
  174
  196
  220
  245
  271
  300
  330
  362
  397
  433
  472
  513
  557
  603
  652
  704
  759
  818
  879
  945
  1,014
  1,087
  1,165
  1,246
  1,333
  1,424
  1,520
  1,622
  1,730
Interest expense (income), $m
  0
  15
  16
  18
  20
  22
  25
  27
  29
  32
  35
  38
  41
  44
  47
  51
  54
  58
  62
  66
  71
  76
  81
  86
  91
  97
  103
  109
  116
  123
  130
Earnings before tax, $m
  43
  58
  74
  91
  110
  130
  151
  174
  198
  225
  270
  300
  332
  365
  401
  439
  479
  522
  567
  615
  667
  721
  778
  839
  903
  971
  1,043
  1,120
  1,200
  1,286
Tax expense, $m
  12
  16
  20
  25
  30
  35
  41
  47
  54
  61
  73
  81
  90
  99
  108
  118
  129
  141
  153
  166
  180
  195
  210
  226
  244
  262
  282
  302
  324
  347
Net income, $m
  31
  42
  54
  67
  80
  95
  110
  127
  145
  164
  197
  219
  242
  267
  293
  320
  350
  381
  414
  449
  487
  526
  568
  612
  659
  709
  762
  817
  876
  939

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,429
  1,497
  1,568
  1,643
  1,722
  1,805
  1,893
  1,984
  2,081
  2,183
  2,290
  2,402
  2,520
  2,644
  2,774
  2,911
  3,055
  3,207
  3,366
  3,532
  3,708
  3,892
  4,085
  4,289
  4,502
  4,726
  4,962
  5,209
  5,468
  5,741
Adjusted assets (=assets-cash), $m
  1,429
  1,497
  1,568
  1,643
  1,722
  1,805
  1,893
  1,984
  2,081
  2,183
  2,290
  2,402
  2,520
  2,644
  2,774
  2,911
  3,055
  3,207
  3,366
  3,532
  3,708
  3,892
  4,085
  4,289
  4,502
  4,726
  4,962
  5,209
  5,468
  5,741
Revenue / Adjusted assets
  2.071
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.071
  2.070
  2.070
  2.069
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
  2.070
Average production assets, $m
  781
  818
  857
  898
  941
  986
  1,034
  1,084
  1,137
  1,193
  1,251
  1,313
  1,377
  1,445
  1,516
  1,591
  1,670
  1,752
  1,839
  1,930
  2,026
  2,127
  2,233
  2,344
  2,460
  2,583
  2,711
  2,846
  2,988
  3,137
Working capital, $m
  -136
  -143
  -149
  -156
  -164
  -172
  -180
  -189
  -198
  -208
  -218
  -229
  -240
  -252
  -264
  -277
  -291
  -305
  -320
  -336
  -353
  -371
  -389
  -408
  -429
  -450
  -472
  -496
  -521
  -547
Total debt, $m
  302
  337
  374
  414
  455
  498
  544
  592
  643
  696
  752
  810
  872
  937
  1,005
  1,077
  1,152
  1,231
  1,314
  1,402
  1,493
  1,590
  1,691
  1,797
  1,909
  2,026
  2,149
  2,278
  2,414
  2,557
Total liabilities, $m
  748
  783
  820
  859
  901
  944
  990
  1,038
  1,088
  1,142
  1,197
  1,256
  1,318
  1,383
  1,451
  1,523
  1,598
  1,677
  1,760
  1,847
  1,939
  2,036
  2,137
  2,243
  2,355
  2,472
  2,595
  2,724
  2,860
  3,003
Total equity, $m
  682
  714
  748
  784
  821
  861
  903
  947
  993
  1,041
  1,092
  1,146
  1,202
  1,261
  1,323
  1,389
  1,457
  1,530
  1,605
  1,685
  1,769
  1,856
  1,949
  2,046
  2,147
  2,254
  2,367
  2,485
  2,608
  2,738
Total liabilities and equity, $m
  1,430
  1,497
  1,568
  1,643
  1,722
  1,805
  1,893
  1,985
  2,081
  2,183
  2,289
  2,402
  2,520
  2,644
  2,774
  2,912
  3,055
  3,207
  3,365
  3,532
  3,708
  3,892
  4,086
  4,289
  4,502
  4,726
  4,962
  5,209
  5,468
  5,741
Debt-to-equity ratio
  0.440
  0.470
  0.500
  0.530
  0.550
  0.580
  0.600
  0.630
  0.650
  0.670
  0.690
  0.710
  0.730
  0.740
  0.760
  0.780
  0.790
  0.810
  0.820
  0.830
  0.840
  0.860
  0.870
  0.880
  0.890
  0.900
  0.910
  0.920
  0.930
  0.930
Adjusted equity ratio
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  31
  42
  54
  67
  80
  95
  110
  127
  145
  164
  197
  219
  242
  267
  293
  320
  350
  381
  414
  449
  487
  526
  568
  612
  659
  709
  762
  817
  876
  939
Depreciation, amort., depletion, $m
  96
  100
  104
  108
  112
  117
  122
  127
  132
  137
  125
  131
  138
  144
  152
  159
  167
  175
  184
  193
  203
  213
  223
  234
  246
  258
  271
  285
  299
  314
Funds from operations, $m
  128
  142
  158
  175
  193
  212
  232
  254
  277
  301
  323
  350
  380
  411
  444
  479
  517
  556
  598
  642
  689
  739
  791
  847
  905
  967
  1,033
  1,102
  1,175
  1,252
Change in working capital, $m
  -6
  -6
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -22
  -24
  -25
  -26
Cash from operations, $m
  134
  149
  165
  182
  200
  220
  240
  262
  286
  311
  333
  361
  391
  423
  457
  492
  530
  571
  613
  658
  706
  756
  810
  866
  926
  989
  1,055
  1,126
  1,200
  1,278
Maintenance CAPEX, $m
  -75
  -78
  -82
  -86
  -90
  -94
  -99
  -103
  -108
  -114
  -119
  -125
  -131
  -138
  -144
  -152
  -159
  -167
  -175
  -184
  -193
  -203
  -213
  -223
  -234
  -246
  -258
  -271
  -285
  -299
New CAPEX, $m
  -34
  -37
  -39
  -41
  -43
  -45
  -48
  -50
  -53
  -56
  -58
  -61
  -65
  -68
  -71
  -75
  -79
  -83
  -87
  -91
  -96
  -101
  -106
  -111
  -117
  -122
  -129
  -135
  -142
  -149
Cash from investing activities, $m
  -109
  -115
  -121
  -127
  -133
  -139
  -147
  -153
  -161
  -170
  -177
  -186
  -196
  -206
  -215
  -227
  -238
  -250
  -262
  -275
  -289
  -304
  -319
  -334
  -351
  -368
  -387
  -406
  -427
  -448
Free cash flow, $m
  25
  34
  44
  55
  67
  80
  94
  109
  125
  142
  155
  175
  195
  217
  241
  266
  293
  321
  351
  383
  417
  453
  491
  532
  575
  620
  668
  719
  773
  830
Issuance/(repayment) of debt, $m
  33
  35
  37
  39
  41
  43
  46
  48
  51
  53
  56
  59
  62
  65
  68
  72
  75
  79
  83
  87
  92
  96
  101
  106
  112
  117
  123
  129
  136
  143
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  33
  35
  37
  39
  41
  43
  46
  48
  51
  53
  56
  59
  62
  65
  68
  72
  75
  79
  83
  87
  92
  96
  101
  106
  112
  117
  123
  129
  136
  143
Total cash flow (excl. dividends), $m
  58
  69
  81
  94
  109
  124
  140
  157
  175
  195
  211
  233
  257
  282
  309
  338
  368
  400
  434
  470
  509
  549
  592
  638
  686
  737
  791
  849
  909
  973
Retained Cash Flow (-), $m
  -31
  -32
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -51
  -54
  -56
  -59
  -62
  -65
  -69
  -72
  -76
  -80
  -84
  -88
  -92
  -97
  -102
  -107
  -112
  -118
  -124
  -130
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  6
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  13
  13
  14
  15
  15
  16
  17
  18
  19
  20
  21
  22
  23
Cash available for distribution, $m
  28
  37
  47
  59
  71
  84
  98
  113
  129
  146
  160
  180
  201
  223
  247
  272
  299
  328
  358
  391
  425
  462
  500
  541
  585
  631
  679
  731
  785
  843
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  26
  34
  41
  48
  55
  61
  66
  71
  74
  77
  76
  77
  76
  75
  72
  69
  65
  60
  55
  50
  44
  38
  33
  28
  23
  18
  15
  11
  9
  6
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc. and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc. (FleetNet). Its Asset-Based operations offer transportation of general commodities through standard, time-critical, expedited and guaranteed LTL services-nationally and regionally. Its ArcBest segment includes truckload, expedite, international, warehousing, freight transportation, management services and moving services. Its FleetNet segment provides roadside assistance and maintenance management services for commercial vehicles to customers in the United States and Canada through a network of third-party service providers.

FINANCIAL RATIOS  of  ArcBest (ARCB)

Valuation Ratios
P/E Ratio 62.9
Price to Sales 0.4
Price to Book 2
Price to Tangible Book
Price to Cash Flow 10.9
Price to Free Cash Flow 38.6
Growth Rates
Sales Growth Rate 1.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -9.2%
Cap. Spend. - 3 Yr. Gr. Rate 18.4%
Financial Strength
Quick Ratio 3
Current Ratio 0
LT Debt to Equity 30.1%
Total Debt to Equity 40.7%
Interest Coverage 0
Management Effectiveness
Return On Assets 1.5%
Ret/ On Assets - 3 Yr. Avg. 3.2%
Return On Total Capital 2.3%
Ret/ On T. Cap. - 3 Yr. Avg. 5.1%
Return On Equity 3.2%
Return On Equity - 3 Yr. Avg. 6.5%
Asset Turnover 2.1
Profitability Ratios
Gross Margin 72.3%
Gross Margin - 3 Yr. Avg. 67.9%
EBITDA Margin 4.9%
EBITDA Margin - 3 Yr. Avg. 5.7%
Operating Margin 1.1%
Oper. Margin - 3 Yr. Avg. 2.2%
Pre-Tax Margin 1%
Pre-Tax Margin - 3 Yr. Avg. 2.2%
Net Profit Margin 0.7%
Net Profit Margin - 3 Yr. Avg. 1.4%
Effective Tax Rate 32.1%
Eff/ Tax Rate - 3 Yr. Avg. 35.2%
Payout Ratio 42.1%

ARCB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ARCB stock intrinsic value calculation we used $2826 million for the last fiscal year's total revenue generated by ArcBest. The default revenue input number comes from 2017 income statement of ArcBest. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ARCB stock valuation model: a) initial revenue growth rate of 4.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ARCB is calculated based on our internal credit rating of ArcBest, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of ArcBest.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ARCB stock the variable cost ratio is equal to 80.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $509 million in the base year in the intrinsic value calculation for ARCB stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for ArcBest.

Corporate tax rate of 27% is the nominal tax rate for ArcBest. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ARCB stock is equal to 0.2%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ARCB are equal to 26.4%.

Life of production assets of 10 years is the average useful life of capital assets used in ArcBest operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ARCB is equal to -4.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $651 million for ArcBest - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 26 million for ArcBest is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of ArcBest at the current share price and the inputted number of shares is $1.2 billion.

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COMPANY NEWS

▶ Top Ranked Growth Stocks to Buy for July 2nd   [Jul-02-18 10:32AM  Zacks]
▶ Is ArcBest Corporation (NASDAQ:ARCB) Undervalued?   [Jun-22-18 03:45PM  Simply Wall St.]
▶ New Strong Buy Stocks for June 19th   [Jun-19-18 09:50AM  Zacks]
▶ Five ABF Freight Service Centers Recognized   [Jun-11-18 11:59AM  PR Newswire]
▶ 3 High-Growth Trucking Stocks That Break the Mold   [Jun-05-18 03:29PM  InvestorPlace]
▶ ArcBest Moves Up on Fortune 1000 List   [May-23-18 02:30PM  PR Newswire]
▶ Why ArcBest Stock Is Soaring Today   [May-11-18 12:27PM  Motley Fool]
▶ ArcBest: 1Q Earnings Snapshot   [May-10-18 04:33PM  Associated Press]
▶ ArcBest® Declares an $0.08/Share Quarterly Dividend   [May-01-18 11:11AM  PR Newswire]
▶ ArcBest Among 100 Best Companies to Work for in Texas   [Mar-23-18 11:00AM  PR Newswire]
▶ Top Ranked Value Stocks to Buy for March 8th   [Mar-08-18 06:49AM  Zacks]
▶ Top ABF Freight Drivers Earn Recognition on Road Team   [Mar-06-18 12:00PM  PR Newswire]
▶ ArcBest Employee Training Program Recognized   [Feb-20-18 03:45PM  PR Newswire]
▶ ArcBest Corporation to Host Earnings Call   [Jan-31-18 07:45AM  ACCESSWIRE]
▶ ArcBest tops 4Q profit forecasts   [06:28AM  Associated Press]
▶ ArcBest® Declares an $0.08/Share Quarterly Dividend   [Jan-26-18 03:57PM  PR Newswire]
▶ ArcBest Carrier ABF Freight Announces 2018 Load Team   [Jan-11-18 11:00AM  PR Newswire]
▶ ArcBest Carrier ABF Freight Receives Pro Patria Award   [Dec-13-17 03:30PM  PR Newswire]
▶ ETFs with exposure to ArcBest Corp. : November 14, 2017   [Nov-14-17 01:55PM  Capital Cube]
▶ ArcBest beats 3Q profit forecasts   [Nov-06-17 05:37AM  Associated Press]
▶ FleetNet America Honors Three Vendor Partners   [Nov-01-17 02:00PM  PR Newswire]
▶ ArcBest® Declares an $0.08/Share Quarterly Dividend   [Oct-31-17 05:00PM  PR Newswire]
▶ ArcBest Receives 2017 Prism Award   [Oct-18-17 11:00AM  PR Newswire]
▶ U-Pack Celebrates 20 Years of Residential Moving   [Oct-12-17 11:00AM  PR Newswire]
▶ New Strong Buy Stocks for October 2nd   [Oct-02-17 11:31AM  Zacks]
▶ ETFs with exposure to ArcBest Corp. : September 28, 2017   [Sep-28-17 10:09AM  Capital Cube]
▶ ETFs with exposure to ArcBest Corp. : September 12, 2017   [Sep-11-17 08:48PM  Capital Cube]
▶ ArcBest Honored with Four Quest for Quality Awards   [Aug-09-17 04:15PM  PR Newswire]
▶ ArcBest Among 2017 Top 50 3PLs   [Aug-03-17 03:00PM  PR Newswire]
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