We recently published Market Downturn? Not for these 10 Stocks; 7 Jump to Record Highs. JB Hunt Transport Services, Inc. is one of the best performers on Thursday.
JB Hunt jumped by 22.14 percent on Thursday to close at $169.57 apiece after reporting improved earnings performance in the third quarter of the year.
In an updated report, JB Hunt Transport Services, Inc. grew its net income by 12.37 percent in the third quarter of the year to $170.8 million from $152 million in the same period last year. Consolidated revenues were flat at $3.05 billion, tempered by a 1 percent and 4 percent dip in gross revenue per load in intermodal and truckload, respectively; alongside a decrease in load volume of 8 percent and 1 percent in Integrated Capacity Solutions and Dedicated Contract Services, respectively; and 8 percent fewer stops in Final Mile Services.
For the nine-month period, JB Hunt Transport Services, Inc. said that both net income and consolidated revenues were flat at $417 million and $3.05 billion, respectively.
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JB Hunt Transport Services, Inc. owed the company’s performance to the hard work of the company’s employees, saying that she remained confident in the long-term strategy on operational excellence and cost-saving measures, among others, to deliver shareholder value.
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This article is originally published at Insider Monkey.
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