Quantcast
 
New book by Larry Connors Click here Improve your trading - See how


 

J.B. Hunt Q2 Profit Drops 21%; Revenues Up 14%

Mon. July 14, 2008; Posted: 06:46 PM
Stocks RSS
(RTTNews) - Transportation provider JB Hunt Transport Services Inc. (JBHT | Quote | Chart | News | PowerRating) Monday reported a 21% decline in second-quarter earnings as the year-ago quarter included a one-time tax benefit. Earnings, however, beat Street estimates. Revenues increased 14%, helped by excellent performance by major business segments and came in above the Street expectation.

Second-quarter net income decreased 21% to $50.60 million from $63.86 million in the same quarter last year. On a per-share basis, earnings dropped to $0.39 from $0.45 last year.

Fifteen analysts surveyed by First Call/Thomson Financial had a consensus earnings estimate of $0.36 per share for the second quarter.

Results for the 2007 second quarter included a benefit of $10.3 million or $0.07 per share net of income taxes from settlement of a tax adjustment.

JB Hunt's competitor, Landstar System Inc. (LSTR | Quote | Chart | News | PowerRating) is scheduled to report second-quarter results on Wednesday, with analysts forecasting earnings of $0.56 per share.

Lowell, Arkansas-based JB Hunt recorded total operating revenues of $977.34 million for the quarter, up 14% from $855.86 million recorded in the comparable quarter a year earlier. Excluding fuel surcharge revenues, second quarter revenues increased 3% from the last-year quarter.

Ten Street analysts were looking for revenues of $925.40 million for the quarter.

Segment-wise, Intermodal Revenue for the quarter increased 28% to $496 million, with a 22% growth in operating income that totaled $66.2 million. Revenue from the Dedicated Contract Services segment improved 3% 243 million, with operating income down 11% to $22.2 million. Operating income in the Truck segment plunged 79% to $3.4 million on a 14% decline in revenue. Second-quarter revenue from the Integrated Capacity Solutions segment surged to $53 million and operating income jumped to $2.3 million.

Operating income for the second quarter was $94.05 million, compared to $96.23 million in the year-ago quarter.

Total operating expenses increased to $883.29 million from $759.63 million in the second quarter of 2007.

Kirk Thompson, JB Hunt's CEO, commented, "We continue to offer our customers supply chain solutions that best suit their service and cost parameters without bias toward a particular mode or asset class. Importantly, this value enhancing strategy has allowed our customers to partially mitigate the impact of historically higher fuel prices by growing their use of intermodal vs. truckload."

On June 13, 2008, analysts at Robert W Baird reiterated their 'outperform' rating on JB Hunt and raised the target price to $41 from $37.

Net income for the first six months of the year declined to $87.02 million or $0.68 per share from the prior-year period, while revenue advanced to $1.856 billion from $1.653 billion in the previous year.

As on June 30, 2008 J.B Hunt had total cash and cash equivalents of $1.26 million, compared to $14.96 million as at December 31, 2007.

JBHT ended Monday's trading at $32.51, up $0.03 or 0.09%, on a volume of about 2.48 million shares. The stock has been moving in a range of $23.28 to $36.32 for the past twelve months, on a three-month average volume of about 2.33 million shares.

For comments and feedback: contact editorial@rttnews.com Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved

For full details on JB Hunt Transport Services (JBHT) click here. JB Hunt Transport Services (JBHT) has Short Term PowerRatings of 7. Details on JB Hunt Transport Services (JBHT) Short Term PowerRatings is available at This Link.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [JBHT]
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.