J.B. Hunt Transport Services (NASDAQ:JBHT) stock was down on Monday despite releasing a positive earnings report for the second quarter of 2018.
J.B. Hunt Transport Services’ earnings report for the second quarter of the year includes earnings per share of $1.37. This is an increase over the company’s earnings per share of 88 cents from the same time last year. It also beat out Wall Street’s earnings per share estimate of $1.28 for the quarter.
Net income reported by J.B. Hunt Transport Services for the second quarter of 2018 came in at $151.65 million. The trucking and transportation company reported net income of $97.87 million in its second quarter of 2017.
During the second quarter of the year, J.B. Hunt Transport Services reported operating income of $214.81 million. This is better than its operating income of $163.62 million that was reported in the same period of the year prior.
J.B. Hunt Transport Services also reported revenue of $2.14 billion for the second quarter of 2018. This is up from its revenue of $1.73 billion that was reported in the second quarter of the previous year. It also came in above analysts’ revenue estimate of $2.06 billion for the period.
J.B. Hunt Transport Services notes that its second quarter revenue was up thanks a few things. This includes an increase in revenue per load of 12% for Intermodal, a 17% increase in revenue producing trucks for Dedicated Contract Services and a 13% increase in revenue per load in Integrated Capacity Solutions.
JBHT stock started off up 6% on Monday morning, but is now down 2% as of noon Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.