J B Hunt Transport Q3 Earnings Top Estimates

Shivani Kumaresan
1 min read
0
In this article:

  • J B Hunt Transport Services Inc (NASDAQ: JBHT) reported third-quarter FY22 sales growth of 22% year-on-year to $3.84 billion, beating the consensus of $3.81 billion.

  • EPS was $2.57, which beat the consensus of $2.46.

  • The operating income improved by 32% Y/Y to $362.2 million, and the margin expanded by 70 bps to 9.4%.

  • Integrated Capacity Solutions revenue fell 11% year-over-year, with an 8% decrease in volume.

  • Intermodal revenue grew 30%, driven by a 26% increase in revenue per load and complimented by a 4% increase in load volume.

  • Dedicated Contract Services revenue grew 34% Y/Y, reflecting an 18% Y/Y increase in average revenue-producing trucks and a 14% Y/Y increase in productivity.

  • Total freight transactions in the Marketplace for J.B. Hunt 360 increased by 7% to $552 million.

  • As of September 30, 2022, JBHT had $1.2 billion outstanding on various debt instruments.

  • The company had cash and equivalents of $84 million at the end of the quarter.

  • Buyback: JBHT purchased ~349,000 shares for ~$61 million. As of September 30, 2022, it had $551 million remaining under the share repurchase authorization.

  • Price Action: JBHT shares are trading higher by 2.57% at $172.20 in the pre-market on Wednesday.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement

Recommended Stories