J.B. Hunt beats third-quarter profit on improved intermodal volumes

by Reuters Oct 16, 2024

U.S. trucking firm J.B. Hunt Transport Services reported third-quarter profit above Wall Street estimates on Tuesday, helped by improving volumes in its largest segment, intermodal.

Shares of the company were up 8.2% in after-the-bell trade.

The intermodal segment, also known as JBI, which involves shipping goods via two or more means of transport, saw a rise due to higher imports and better rail services. It also helped the company partially offset a decline in prices.

The company reported a 5% year-over-year increase in intermodal volumes, propelling its JBI segment to post a revenue of $1.56 billion.

The Arkansas-based company posted a quarterly revenue of $3.07 billion, compared to analysts' estimate of $3.02 billion, according to data compiled by LSEG.

Reuters

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