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
Etihad Airway's Chief Executive Officer James Hogan will leave in the second half this year. Hogan has been with the Abu Dhabi based aviation group since 2006. Chief Financial Officer James Rigney also will depart from service. Seafood lovers must now be prepared to dole out more cash than before for salmon. The price of salmon has surged globally and is now at historic highs amid acute outbreaks of sea lice. According to data from the Nasdaq Salmon Index, the price of salmon has risen by more than 15 percent in the last three months. Health-food restaurant chain Freshii Inc. has increased the price range for its initial public offering in Canada. Freshii has raised the price range for its IPO to C$10 to C$11.50 per share from the prior range of C$8.50 to C$10.0 per share, BNN reported.
comments powered by Disqus
Follow RTT