Investing.com - JB Hunt (NASDAQ:JBHT) on Tuesday reported mixed first-quarter results as earnings missed but revenue topped analysts' forecasts.
JB Hunt announced earnings per share of $0.98 on revenue of $2.28 billion. Analysts polled by Investing.com anticipated earnings per share of $1.02 on revenue of $2.22 billion. That compared with EPS of $1.09 on revenue of $2.09 billion in the same period a year before. JB Hunt had reported EPS of $1.35 on revenue of $2.45 billion in the previous quarter. Analysts are expecting EPS of $1.2 and revenue of $2.37 billion in the upcoming quarter.
The miss on the bottom line was driven by lower gross profit margin, increased costs to expand capacity and functionality of the Marketplace for J.B. Hunt 360, higher personnel costs, and increased digital marketing and advertising costs.arketplace for J.B.
JB Hunt shares are down 16.18% from the beginning of the year , still down 19.95% from its 52 week high of $122.29 set on November 7, 2019. They are under-performing the S&P 500 which is down 12.32% year to date.
JB Hunt shares gained 0.11% in after-hours trade following the report.
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