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reported stronger-than-expected earnings for the first quarter, but the company's sales missed analysts' estimates.
The Lowell, Arkansas-based company posted quarterly earnings of $91.9 million, or $0.78 per share, compared to $68.7 million, or $0.58 per share, in the year-ago period.
Its revenue surged to $1.44 billion versus $1.41 billion, while operating revenue, excluding fuel surcharges, climbed 10 percent. However, analysts were expecting earnings of $0.72 per share on revenue of $1.54 billion.
Dedicated Contract Services segment revenue rose 7 percent, while Truck segment revenue slipped 1 percent in the quarter. Intermodal segment revenue rose 1 percent, while Integrated Capacity Solutions segment revenue came in flat in the recent quarter.
Operating income climbed to $155 million from $117 million for the year-ago quarter. Net interest expense rose 5 percent year-over-year.
During the quarter, J.B. Hunt purchased around 79,500 shares of common stock for approximately $6.4 million.
At March 31, 2015, the company had $5.6 million in cash and cash equivalents.
The average estimate among 15 Estimize users was for earnings of $0.72 per share and revenue of $1.54 billion.
J.B. Hunt shares gained 1.45 percent to $89.00 in pre-market trading.
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