J.B. Hunt Posts Mixed 3Q Results
Hunt Transport Services Inc., a Lowell-based transportation services provider, reported a 12.35% increase in net income, but a narrow decline in revenue for the third quarter.
The company's net income rose to $170.84 million, or $1.76 per share, from $152.06 million, or $1.49 per share, in the same period last year. Revenue fell by 0.5% to $3.05 billion from $3.06 billion.
Despite the mixed results, J.B. Hunt beat analyst expectations, with earnings of $1.76 per share exceeding the expected $1.46 per share, and revenue of $3.05 billion surpassing the projected $3.02 billion.
The third-quarter results led to a double-digit increase in the after-hours share price.
Author's summary: J.B. Hunt reports mixed 3Q results, beating analyst expectations.
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