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

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

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%.

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