J.B. Hunt Profit Jumps on Strong Freight Demand Pricing Gains
By Jennifer Smith | April 16, 2018 2:51 p.m. ET
Strong freight demand buoyed first-quarter results at J.B. Hunt Transport Services Inc., JBHT +1.08% which benefited from a tight trucking market that boosted pricing and offset rising costs in some of its truck and rail operations.
J.B. Hunt’s revenue jumped 20% over the three-month period a year ago, to $1.95 billion, the company reported Monday, beating consensus estimates of $1.89 billion by analysts polled by Thomson Reuters. That helped push the net profit up 15% from a year ago, to $118.1 million.
Earnings per share were $1.07, up from $0.92 for the same period in 2017 and in line with expectations.
The Lowell, Ark.-based carrier is a top U.S. provider of intermodal service, managing the transport of goods by road and rail. A shortage of truck capacity has helped the sector, as manufacturers and retailers hunt for alternative ways to ship cargo long distances…
Comments are closed