J B Hunt Transport Reports Q2 Results Above Street Expectations

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  • J B Hunt Transport Services Inc JBHT reported second-quarter revenue growth of 32% year-over-year to $3.84 billion, beating the consensus estimate of $3.6 billion.
  • EPS was $2.42 (+50% Y/Y), which beat the consensus of $2.31.
  • The operating income improved by 46.2% Y/Y to $353.08 million, and the margin expanded by 90 bps to 9.2%.
  • Intermodal (JBI) revenue grew 42%, driven by an 8% increase in volume and a 32% increase in revenue per load.
  • Dedicated Contract Services revenue grew 39%, reflecting a 21% increase in average revenue producing trucks and a 14% improvement in fleet productivity versus the prior-year period.
  • Total freight transactions in the Marketplace for J.B. Hunt 360 increased 11% to $556 million.
  • At June 30, 2022, JBHT had ~$1.3 billion outstanding on various debt instruments. The company held cash and cash equivalents of $124 million at the end of the quarter.
  • JBHT purchased ~979,000 shares for ~$164 million during the quarter. At June 30, 2022, it had ~$112 million remaining under the share repurchase authorization.
  • Price Action: JBHT shares are trading lower by 0.26% at $174 during the post-market session on Tuesday.
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