J.B Hunt Profits Exceed Forecasts
by October 28, 2002 12:00 am 63 views
Lowell’s J.B. Hunt Transport Services Inc. on Oct. 15 reported quarterly profits that exceeded Wall Street forecasts.
The trucking company said third-quarter profits were $16.8 million, or 42 cents a share, up from $4.5 million, or 12 cents a share, during the same quarter a year ago.
Analysts had expected the company to earn between 31 cents and 41 cents a share, with a mean forecast of 36 cents.
J.B. Hunt also said that total operating revenue for the current quarter was $583 million, compared with $537 million during the third quarter of 2001.
During the third quarter of 2002, revenue of the company’s truck segment was up 2.4 percent, while intermodal segment revenue rose 6.7 percent over the comparable period of 2001. Dedicated segment revenue increased 19.3 percent during the current quarter, the company said.