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JB Hunt Transport Services (JBHT) Misses Q2 EPS by 2c

July 17, 2015 8:25 AM EDT

JB Hunt Transport Services (NASDAQ: JBHT) reported Q2 EPS of $0.88, $0.02 worse than the analyst estimate of $0.90. Revenue for the quarter came in at $1.54 billion versus the consensus estimate of $1.61 billion.

Operating income for the current quarter totaled $174 million vs. $159 million for the second quarter 2014. The increase in operating income was primarily from customer rate increases, less reliance on outsourced JBI drayage and DCS capacity coverage, load growth, freight mix changes and improved equipment fuel economy. The operating income increase was partially offset by an approximate $14.1 million charge for corporate wide streamlining and technology redevelopment costs, the benefits of which are expected to be realized over the next two fiscal years, lower box turns from slower train velocities, higher driver recruiting and retention costs, higher workers’ compensation costs and increased toll costs compared to second quarter 2014.

Interest expense in the current quarter decreased due to lower overall debt levels from the same period last year. The second quarter 2014 reflected the accelerated payment of $100 million of 6.08 % fixed rate senior notes that would have matured in July 2014. The effective income tax rate for the quarter was 38.10% for both second quarter 2015 and 2014. The 2015 annual tax rate is expected to be approximately 38.10%.

Guidance:

The company sees FY15 flat to up 20 percent, versus prior expectation of up 9 to 12 percent. Consensus estimates were looking for revenue to increase 5 percent.

For earnings history and earnings-related data on JB Hunt Transport Services (JBHT) click here.



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