Transport company J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) on Friday reported higher earnings and revenues for the third quarter of 2020. The top-line exceeded the market’s prediction, but earnings missed.
At $2.47 billion, total revenues were up 5% from the third quarter of 2019. Experts had predicted a slower top-line growth.
Net income moved up to $125.5 million or $1.18 per share in the third quarter from $118.4 million or $1.10 per share a year earlier. Analysts were looking for a slightly bigger bottom-line number.
Shares of J.B. Hunt traded sharply lower in the early hours of Friday’s session. They have gained 10% since the beginning of the year.
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