J.B. Hunt Beats Profit Expectations, But Sales Miss

Shares of J.B. Hunt Transport Services edged up 0.3% in premarket trade Tuesday, after the trucking company reported a first-quarter profit that beat expectations, which helped offset a sales miss. Earnings increased to $91.9 million, or 78 cents a share, from $68.7 million, or 58 cents a share, in the same period a year ago. That beat the FactSet consensus for earnings of 72 cents a share, as benefits from customer rate increases, improved equipment fuel economy and lower maintenance costs offset increases in driver wages, insurance rates, equipment storage costs and tolls. Revenue rose to $1.44 billion from $1.41 billion, missing the FactSet consensus of $1.54 billion, as intermodal and dedicated contract services revenue rose less than expected. The stock has gained 4.1% year to date through Monday, while the S&P 500 has advanced 1.6%.