J.B. Hunt's Stock Drops After Profit Falls Below Expectations

By Tomi KilgoreMarketsMarketWatch Pulse

Shares of J.B. Hunt Transport Services Inc. dropped 2% in premarket trade Monday, after the trucking company reported second-quarter profit and sales that fell short of expectations. Net profit fell to $97.9 million, or 88 cents a share, from $105.0 million, or 92 cents a share, in the same period a year ago, below the FactSet consensus for earnings per share of 91 cents. Revenue rose 7% to $1.73 billion from $1.62 billion, but was just shy of the FactSet consensus of $1.74 billion, as misses in dedicated contract services and truck revenue offset a beat in the largest intermodal segment. The stock has lost 5.4% year to date through Friday, while the Dow Jones Transportation Average has gained 7.7% and the Dow Jones Industrial Average has advanced 9.5%.

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