J.B. Hunt’s stock drops after profit misses, while revenue tops forecasts

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Shares of J.B. Hunt Transport Services Inc. sank 7.2% to pace the Dow Jones Transportation Average’s premarket decliners, after the trucking company missed profit expectations, although revenue rose above forecasts. Net income rose to $125.5 million, or $1.18 a share, from $18.4 million, or $1.10 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.30. Revenue grew 5% to $2.47 billion, above the FactSet consensus of $2.36 billion. Intermodal revenue down 2% to $1.21 billion to match expectations, dedicated contract services revenue rose 1% to $553 million to top expectations of $542.6 million and integrated capacity solutions revenue increased 28% to $431 million to top expectations of $340.4 million. The stock has rallied 21.5% year to date through Thursday, while the Dow transports has gained 10.0% and the Dow Jones Industrial Average has slipped 0.2%.
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