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

(Reuters) - 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.

It reported a profit of $1.49 per share. Analysts were expecting the company to report a profit of $1.41 per share.

(Reporting by Abhinav Parmar and Shivansh Tiwary in Bengaluru; Editing by Alan Barona)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• J.B. Hunt Transport Services (JBHT) PT Raised to $239 at Goldman Sachs
• Morgan Stanley Downgrades J.B. Hunt Transport Services (JBHT) to Underweight
• SK Hynix eyes blockbuster US debut with $149 ADR target, Bloomberg reports