JB Hunt Falls After Q2 Earnings
Trucking company J.B. Hunt (NASDAQ: JBHT) released its fiscal second-quarter earnings results after the closing bell on Monday. The company reported net earnings of $80.5 million, or $0.67 per share, compared to $65.7 million, or $0.53 per share in the year ago period. This was in-line with Wall Street analysts' consensus EPS estimates of $0.67.
Operating revenue in the second-quarter was $1.26 billion versus $1.15 billion in the year ago period. This missed Wall Street analysts' consensus revenue estimates of $1.30 billion.
In Monday's after hours trading session, J.B. Hunt shares have fallen more than 3 percent to $56.44.
The revenue miss from this very large trucking company could weigh on other transport stocks as well as industrials tomorrow. A widely followed investment theory known as Dow Theory, posits that transports will breakdown prior to industrials, and this miss from J.B. Hunt could weigh on sentiment in both sectors, which have been under pressure in recent weeks.
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