ArcBest (NASDAQ: ARCB) missed first-quarter expectations on Tuesday, reporting a net loss of $2.9 million, or 12 cents per share. The unadjusted result included a $21.6 million charge from the closure of a tech company it was backing. After adjusting for several items the company considers nonrecurring (various technology costs including a freight handling pilot, acquisition-related expenses and a write off of an equity investment) it reported adjusted earnings per share of $1.34, which was 19 cents worse than the consensus estimate and 24 cents lower year over year (y/y). The write-off was related to ArcBest's $25 million investment in Phantom Auto, a software company enabling the remote operation of forklifts, robots and yard trucks, which shut down during the first quarter. ArcBest's asset-based segment, which includes less-than-truckload operations, reported a 4% y/y decline in revenue to $672 million. Tonnage per day was down 17% y/y, which was mostly offset by a 16% increase in revenue per hundredweight, or yield. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[300, 100], [320, 50], [728, 90], [468, 60]], 'div-gpt-ad-1709668545404-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); ...