J.B. Hunt Misses Q1 Earnings Estimates, Shares Fall (JBHT)
J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) reported on Thursday that its fiscal first-quarter profit rose thanks to increased load volumes which bolstered revenue by 11%; nonetheless, shares fell about 2.80% in extended trading hours as adjusted earnings fell short of analysts’ estimates.
Revenue was in-line with Street’s forecast though.
Revenue from Intermodal segment, which is company’s key top line driver, jumped 15% as total load volumes rose 13% during the quarter. In addition, enhanced services and overall tighter capacity in the truck market helped Company to achieve strong growth in the Eastern and transcontinental networks, J.B. Hunt said in its earnings report.
While revenue from integrated capacity solution division climbed 26% thanks to 47% growth in load-volumes, revenue from dedicated contract services division increased 9%.
However, revenue from truck division fell 21% as fleet size contracted and trucks capacity was also underutilized.
For the quarter, Lowell, Arkansas-based Company reported operating revenue of $1.29 billion up from $1.17 billion, in the same quarter of last fiscal.
Operating income for the quarter stood at $125 million compared to $117 million, in the year earlier quarter. Although costs related contract implementation, equipment and claims increased during the quarter, tighter cost control measures, higher load volumes and better freight mix helped to improve margin.
Net income for the quarter came at $73 million or 61 cents a share up from $67.7 million or 57 cents a share but falling short of analysts’ consensus estimates of 64 cents a share.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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