JB Hunt (JBHT) Soars 22% on Q3 Earnings

We recently published Market Downturn? Not for these 10 Stocks; 7 Jump to Record Highs. JB Hunt Transport Services, Inc. (NASDAQ:JBHT) 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. (NASDAQ:JBHT) 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. (NASDAQ:JBHT) said that both net income and consolidated revenues were flat at $417 million and $3.05 billion, respectively.

JB Hunt Transport Services, Inc. (NASDAQ:JBHT) 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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Disclosure: None. This article is originally published at Insider Monkey.