Why Is JB Hunt (JBHT) Up 5% Since Last Earnings Report?

Core Insights - J.B. Hunt's Q3 2024 earnings per share were $1.49, exceeding the Zacks Consensus Estimate of $1.42 but down 17.2% year over year [2] - Total operating revenues reached $3.07 billion, surpassing the Zacks Consensus Estimate of $3.04 billion but declining 3% year over year [3] Financial Performance - Operating income decreased 7% year over year to $224.1 million, attributed to lower revenues across all segments except Intermodal [4] - Intermodal division revenues were $1.56 billion, remaining flat year over year, with a 7% increase in transcontinental network loads and a 3% increase in eastern network loads [5][6] - Dedicated Contract Services revenues fell 5% year over year to $846 million, driven by a decline in average trucks and productivity [6] - Integrated Capacity Solutions revenues decreased 7% year over year to $278 million, with a 10% drop in segmental volumes [8] - Truckload revenues fell 12% year over year to $173 million, with a 6% decline in load volume [10] - Final Mile Services revenues decreased 3% year over year to $218 million due to weak demand across various end markets [12] Liquidity and Share Buyback - At the end of Q3, J.B. Hunt had cash and cash equivalents of $120 million, up from $53.5 million in the previous quarter, and long-term debt decreased to $1.03 billion from $1.48 billion [14] - The company repurchased nearly 1.2 million shares for $200 million during the quarter, with approximately $967 million remaining under its share repurchase authorization [14] Market Outlook - There has been an upward trend in earnings estimates for J.B. Hunt, indicating a promising outlook [15][17] - The company holds a Zacks Rank 3 (Hold), suggesting an expectation of in-line returns in the coming months [17]