J.B. Hunt beats third-quarter profit on improved intermodal volumes
Oct 15 (Reuters) -U.S. trucking firm J.B. Hunt Transport Services JBHT.O 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
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