J B Hunt Transport Services Inc (JBHT)

Shares of J.B. Hunt Transport Services (JBHT) dropped by 8.85% from $196.01 to $178.67 in the trading on Wednesday, October 18, 2023. The reason why JBHT stock down is due to its disappointing Q3 earnings:

• Earnings per share of $1.80, missing expectations by 5% and declining 30% compared to the previous year.
• Total operating revenues were $3,163.8 million, falling short of estimates and decreasing by 18% year over year. This decline was due to decreased revenue per load in various segments, including Intermodal and Truckload, as well as a volume decrease in Integrated Capacity Solutions and other factors.
• Operating income for the quarter dropped by 33% to $241.7 million due to lower revenues, higher costs, and a loss from equipment sales.