The firm delivered earnings of $1.91 per share, surpassing analyst estimates of $1.73 per share, and rising 45.8 percent from the previous year.
JB Hunt Transport disclosed quarterly revenue of $3.50 billion, which represents a year-over-year growth of 19.5 percent and exceeded analyst forecasts of $3.24 billion.
Operating income for the quarter increased 32 percent to $259.5 million from $197.3 million a year earlier. Net interest expense decreased approximately 21 percent due to a lower average consolidated debt balance, partially offset by a modestly higher average interest rate.
Shelley Simpson, president and CEO, said, “Our second quarter results reflect the strength of executing our strategy, as we leveraged our investments in our people, technology, and capacity to drive growth and improve profitability. As market conditions continue to evolve, we remain focused on creating long-term value for our shareholders, delivering valuable solutions to our customers while maintaining discipline around returns on our capital.”
At $297.77, J.B. Hunt Transport is up 7.78 percent in after-hours trading. The stock rose by $21.49 from its closing price of $276.28 during the regular trading session, and the shares continue to trade between their 52-week low of $130.12 and high of $294.98.
