Why Shares of J.B. Hunt Fell on Friday
Shares of J.B. Hunt Transport Services (NASDAQ: JBHT) closed down nearly 10% on Friday after the trucking company reported weaker-than-expected third-quarter earnings. Network issues led to higher costs, causing the company to underperform.
On Friday morning, J.B. Hunt said it earned $1.18 per share in the quarter, short of analyst expectations of $1.27 per share. Revenue of $2.47 billion was actually above the $2.36 billion consensus, but high costs plagued the company in the quarter.
The company is an intermodal specialist, meaning it takes containers off of trains and uses trucks to transport them to their final destination. In the quarter, J.B. Hunt was plagued by network congestion, with the company unable to keep up with improving train operational metrics, which caused issues on the expense side.
Source Fool.com
