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.