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FORT SMITH, Ark. - ArcBest (NASDAQ:ARCB), a $1.9 billion logistics company currently trading below its Fair Value according to InvestingPro analysis, announced Wednesday it has successfully completed a pilot program evaluating a Tesla Semi electric truck in its less-than-truckload operations through its carrier ABF Freight.
During the three-week test, the Class 8 long-range electric semi-truck logged 4,494 miles, averaging 321 miles per day with an energy efficiency of 1.55 kWh per mile. The vehicle operated on routes between service centers in Reno, Nevada and Sacramento, California, including regional runs in the Bay Area and rail shuttle operations. This initiative comes as ArcBest maintains a solid financial position with moderate debt levels and a 23-year track record of consistent dividend payments.
The electric truck navigated the 7,200-foot climb over Donner Pass and generally matched the performance of diesel counterparts, according to the company’s statement.
"We’re not looking for a truck that performs well ’for an EV,’" said Matt Godfrey, ABF Freight president. "It must meet or exceed the performance and total cost of ownership targets of our most efficient diesel units."
Drivers provided positive feedback on the vehicle’s comfort and safety features, including the center seat configuration, wide visibility and intuitive controls.
The pilot highlighted the need for further development of charging infrastructure to support broader deployment across longer routes, the company noted in its press release.
ArcBest currently operates nine electric yard tractors, two electric forklifts and two Class 6 electric straight trucks as part of its broader efforts to explore electric vehicles across its operations.
The logistics company, which generated $4.1 billion in revenue over the last twelve months, said it will continue assessing the long-term viability of Class 8 electric vehicles within its fleet as it works toward developing more sustainable logistics solutions. For deeper insights into ArcBest’s financial health and growth prospects, including 12 additional ProTips and comprehensive valuation metrics, visit InvestingPro.
In other recent news, ArcBest Corp reported its first quarter 2025 earnings, which slightly missed analyst expectations. The company posted earnings per share (EPS) of $0.51, just below the projected $0.52, and reported revenue of $967.08 million, falling short of the expected $989.28 million. These results reflect a 7% year-over-year revenue decline, highlighting ongoing challenges in the market. Meanwhile, ArcBest has made significant leadership changes, appointing Mac Pinkerton as the new Chief Operating Officer of its asset-light logistics division, effective January 2026.
On the analyst front, Goldman Sachs upgraded ArcBest’s stock rating from Neutral to Buy, raising the price target to $101, citing a strategic focus on asset-based operations. BofA Securities also upgraded ArcBest’s rating to Neutral and increased the price target to $74, reflecting confidence in the company’s core operations. However, Stifel adjusted its price target for ArcBest to $83 from $102, maintaining a Buy rating despite the recent earnings miss. These developments, along with strategic leadership changes, are closely watched by investors and analysts as ArcBest navigates the current market landscape.
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