logo
Share SHARE
FONT-SIZE Plus   Neg

J.B. Hunt Profit Rises, Tops Estimate - Update

J. B. Hunt Transport Services Inc. (JBHT) Thursday reported a sixteen percent increase in fourth-quarter profit, as improved load volumes across most segments lifted revenues.

The company's earnings topped Street estimates by a penny, with revenues also coming in ahead of expectations. The company's shares gained over 3.6 percent in morning trade on the Nasdaq.

During the quarter, the company's Intermodal segment benefited from a 13 percent rise in revenues amid a 11 percent load growth. Dedicated Contract Services segment revenue increased 9 percent, on the addition of new accounts.

Integrated Capacity Solutions segment revenue increased 30 percent, on a 47 percent jump in load volume. Truck segment revenue meanwhile slid 12 percent, due to a 19 percent drop in fleet size.

Overall, J.B. Hunt reported fourth-quarter operating revenues of $1.34 billion, compared with $1.2 billion a year ago. Analysts on consensus estimated revenues of $1.33 billion for the quarter.

Excluding fuel surcharges, operating revenues for the quarter grew 10 percent from last year.

J. B. Hunt reported fourth-quarter net income of $84 million or $0.70 per share, compared with $72.6 million or $0.61 per share last year.

Analysts on consensus estimated earnings of $0.69 per share for the quarter. Analysts' estimates typically exclude special items.

J.B. Hunt is trading at $65.76, up 3.62%.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Delta Air Lines Inc. (DAL) pilots, represented by the Air Line Pilots Association International, are picketing on Friday at several airports across the country. The pilots said the picketing was to raise the sense of urgency in ongoing contract negotiations. The negotiations between the pilots... Charter Communications, and its recently acquired subsidiary Time Warner Cable, have been regularly overcharging its consumers to a tune of $7.2 million per year, according to a report from the U.S. Senate's Permanent Subcommittee on Investigations. According to the report, Time Warner Cable over-billed... Popular photo sharing network Instagram is adding a new translation button on its pages, so that the global crowd can read and enjoy the captions and comments given for the photographs uploaded. The new update will be available from next month onward.
comments powered by Disqus
Follow RTT