JB Hunt Transport Services Inc. (JBHT) reported third quarter net income of $40.0 million or $0.31 per share, compared to $60.3 million or $0.47 per share in the prior year period.
On average, 20 analysts polled by Thomson Reuters expected the company to report earnings of $0.28 per share. Analysts' estimates typically exclude special items.
Total operating revenue for the current quarter was $834.0 million, down 16% from $996.4 million in last year period. Twelve Wall Street analysts expected revenues of $804.68 million.
The company said the decrease in operating revenue was primarily attributable to lower fuel surcharge revenues, which reflect significantly lower fuel costs in the current quarter. Declines in intermodal and truckload pricing also contributed to the lower revenue.
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