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
Media conglomerate Viacom, Inc. on Tuesday reported a 10 percent decline in profit for the first quarter from last year, reflecting lower revenues in the Filmed Entertainment and Media Networks segments. However, adjusted earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates. Transmission utility ITC Holdings Corp. announced Tuesday that it has entered into an agreement and plan of merger to be acquired by Canadian electric and gas utility company Fortis Inc. in a deal valued at approximately $11.3 billion. ITC shareholders will receive $22.57 in cash and 0.7520 Fortis shares per ITC share. The Coca-Cola Company (KO) reported that its fourth-quarter net income to shareowners increased to $1.24 billion or $0.28 per share from $770 million or $0.17 per share, last year. Adjusted earnings per share was $0.38, for the quarter. On average, 21 analysts polled by Thomson Reuters expected the company...
comments powered by Disqus
RELATED NEWS
Trade JBHT now with 
Follow RTT