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J.B. Hunt Shares Open Nearly 8% Higher Following 2nd Quarter Earnings Release

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J.B. Hunt shares opened nearly 8% higher today after reporting Q2/19 earnings and a 6% increase in revenue over the same period in Q2/18.

J.B. Hunt Transport Services Inc. (JBHT:NASDAQ) shares opened up 7.61% today after the company announced Q2/19 net earnings of $133.6 million, or diluted earnings per share of $1.23 compared to Q2/18 net earnings of $151.7million, or $1.37 per diluted share.

The company reported total operating revenue increased by 6% to $2.26 billion for Q/19 versus $2.14 billion in Q2/18 and the total operating revenue excluding fuel surcharges increased 6.5% over the same period. The statement provided by the company indicated that revenue growth was driven primarily by a 19% increase in revenue producing trucks and an 8% increase in truck productivity in Dedicated Contract Services (DCS), but partially offset by an 8% decline in volume in Intermodal (JBI), a 7% decline in volume in Integrated Capacity Solutions (ICS), and fewer tractors operating in Truck (JBT) compared to the prior year.

J.B. Hunt advised that operating income for Q2/19 totaled $193.1 million down from $214.8 million in Q2/18 as the benefits of customer rate increases and increases in revenue producing truck counts were partially offset by increases in insurance and claims costs (particularly a $20.0 million pre-tax charge, $0.14 per diluted share, in settlement of a DCS Final Mile claim). The firm also indicated that increases in rail purchased transportation costs, start-up costs associated with expansion and integration of DCS Final Mile network, higher driver wages and recruiting costs, increased technology costs for modernization and further development of J.B. Hunt 360, and increased facility costs all compared to the same period 2018 were additional contributing factors.

J.B. Hunt is one of the largest surface transportation, delivery, and logistics companies in North America. The firm's service offerings include transportation of full-truckload containerized freight, arrangements with most of the major North American rail carriers to transport freight in containers or trailers, and customized freight movement, and customized services tailored to meet individual customers' requirements. The firm is structured into four major business segments: Intermodal (JBI); Dedicated Contract Services (DCS); Integrated Capacity Solutions (ICS); and Truckload (JBT).

J.B. Hunt's shares opened today up nearly 8% ($99.63,+$7.05) over the prior day's closing price of $92.58 in higher than average volume. Shares have traded intraday as high as $101.77/share and are currently trading at $98.28/share.


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