J.B. Hunt stock falls as continued weaker demand weighs on results
Shares of J.B. Hunt Transport Services Inc. (JBHT) fell after hours on Tuesday after the trucking, transportation and logistics provider reported second-quarter results that missed Wall Street's expectations, as weaker demand pulled sales lower. The company reported net income of $189.6 million, or $1.81 a share, compared with $255.3 million, or $2.42 a share, in the same quarter last year. Sales fell 18% to $3.13 billion, compared with $3.84 billion in the prior-year quarter. Analysts polled by FactSet expected earnings of $1.90 a share, on revenue of $3.29 billion. Executives noted lower sales per shipment, weaker volumes and weaker sales from fuel surcharges. Shares were down 2.6% after hours.
-Bill Peters
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07-18-23 1624ET
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