J.B. Hunt Transport Services, Inc. (JBHT
reported higher third quarter earnings on Tuesday, but the results fell below analysts' estimates..
The Lowell, AR-based company reported third quarter net income of $89.5 million, or 75 cents per share, up from $78.2 million, or 65 cents per share a year ago. On average, analysts expected to see earnings of 78 cents per share.
Operating income for the quarter was $151 million, up from $133 million last year. The rise in operating income was due to a rise in load growth, higher JBI box turns and freight mix. However, this increase was partially offset by recruiting costs, higher costs for dray, brokerage and truckload services, increased driver mileage pay, higher equipment expenses, and lower tractor utilization.
Total revenue for the quarter was $1.44 billion, from $1.30 billion last year. On average, analysts expected to see revenue of $1.45 billion.
J.B. Hunt Transport Services shares were mostly flat during pre-market trading Tuesday. The stock is up 23% YTD.
The Bottom Line
Shares of J.B. Hunt Transport Services, Inc. (JBHT
have a 0.82% yield based on Monday's closing price of $73.18.
J.B. Hunt Transport Services, Inc. (JBHT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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