J.B. Hunt Transport Services Q2 Results Miss Estimates; Profit Rises 9% on 10% Higher Revenues (JBHT)
Before the opening bell on Monday, transportation and trucking company J.B. Hunt Transport Services, Inc. (JBHT) reported a rise in second quarter profits and revenue. However, both earnings and revenues fell short of Wall Street estimates.
The Lowell, Arkansas-based company posted a second quarter net income of $87.7 million, or 73 cents per share, up from $80.5 million, or 67 cents per share, earned in the same period a year ago. According to analysts polled by Thompson Reuters, J.B. Hunt was expected to earn 74 cents per share in the quarter.
The company’s operating income for the quarter was $147 million compared to last year’s operating income of $137 million. This increase was mostly due to load growth and partially offset by $6.4 million in charges and write-offs, increase in equipment costs, fewer gains on revenue equipment ales and higher driver recruiting and wage costs.
J.B. Hunt’s operating revenue for the quarter rose to $1.38 billion from $1.26 billion last year. Analysts were expecting the company to post $1.40 billion in revenues.
J.B. Hunt shares were down 91 cents, or 1.20%, during pre-market trading on Monday. The stock is up 26.83% year-to-date.
The Bottom Line
Shares of J.B. Hunt (JBHT) have a dividend yield of 0.79% based on Friday’s closing price of $75.73 and the company’s annualized dividend payout of 60 cents per share.
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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