J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) Tuesday said its first-quarter earnings decreased to $0.98 per share, despite a 9% growth in revenues to $2.3 billion. Earnings missed the consensus estimates, while revenues surpassed the forecast.
The bottom-line was negatively impacted by a marked increase in operating expenses, reflecting the uptick in wages and acquisition-related costs. Of late, the performance of the company’s truck division has been negatively impacted by the general slump in freight services.
Shares of the logistics company closed the day’s trading higher and continued to gain during the extended session.
The massive slowdown in the IPO market continued in the second half as the challenges posed by high inflation and interest rate hikes weighed on investor confidence. Meanwhile, there is
The automotive sector is one of the worst affected by the combination of high inflation and rising interest rates. Consumers have become more cautious and are prioritizing their purchases with
The IPO market has witnessed muted activity this year, and things don’t seem to have improved in the second half. The upcoming public listing of video game technology firm Ultimax