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J.B. Hunt Shares Rise on Higher Q3 Revenue

But it narrowly missed analyst estimates for earnings


J.B. Hunt Transport Services (NASDAQ:JBHT) surged after it announced higher quarterly revenue that beat Wall Street expectations.

The company announced on Thursday that it earned $78.2 million during the third quarter, up 14% from $68.7 million in the same period last year. EPS came in at 65 cents, which narrowly missed the 66 cents that analysts had forecast, The Associated Press noted.

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The trucking service provider posted revenue of $1.3 billion, an increase of 11% from $1.17 billion in 2011. That topped the $1.28 billion analysts had anticipated.

Investors liked the news, sending company shares up more than 8% in Friday morning trading.

J.B. Hunt operated 2,381 trucks at the end of the third quarter. That was 9% fewer trucks compared to last year.

Revenue from trucking declined to $117 million, down 8% compared to last year. Intermodal transport — which includes containers sent by sea, train and road — generated revenue of $794 million, up 15% from 2011.

Operating revenue from intermodal transport rose 25% to $97.9 million, while operating income at the company’s trucking unit declined 41% to just $4 million.

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