JB Hunt Earnings: JBHT Stock Jumps 3% on Q2 Beats

JB Hunt (NASDAQ:JBHT) earnings for the transportation company’s second quarter of 2020 have JBHT stock on the rise after markets closed on Thursday. That comes after reporting diluted earnings per share of $1.14, which is better than Wall Street’s estimate of 83 cents. Its revenue of $2.15 billion also blows past analysts’ estimates of $2.01 billion.

JB Hunt Earnings: JBHT Stock Jumps 3% on Q2 Beats

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Now, let’s take a more thorough look at the most recent JB Hunt earnings report.

  • Diluted per-share earnings are down 7.3% compared to $1.23 in the same period of the year prior.
  • Revenue for the quarter comes in 5% lower than the $2.26 billion reported in the second quarter of 2019.
  • Operating income of $175.18 is a 9.3% drop year-over-year from $193.09 million.
  • The JB Hunt earnings report also has net income coming in at $121.7 million.
  • That’s an 8.9% decrease from its net income of $133.63 million reported during the same time last year.

JB Hunt includes the following statement in its Q2 earnings report.

“Lower revenue and higher purchased transportation costs, continued investment in technology across all segments, and employee and operating supplies costs related to COVID-19, were partially offset by benefits of lower driver turnover, decreased insurance and claims costs and significantly reduced travel and entertainment costs compared to the prior year.”

JB Hunt doesn’t discuss guidance in its current earnings report. That makes sense with the novel coronavirus causing problems for the economy. Plenty of other companies are withholding outlooks at this time.

JBHT stock was up 3.4% after-hours Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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