J B Hunt Transport Q3 Earnings Top Estimates

J B Hunt Transport Services Inc JBHT reported third-quarter FY22 sales growth of 22% year-on-year to $3.84 billion, beating the consensus of $3.81 billion.
EPS was $2.57, which beat the consensus of $2.46.
The operating income improved by 32% Y/Y to $362.2 million, and the margin expanded by 70 bps to 9.4%.
Integrated Capacity Solutions revenue fell 11% year-over-year, with an 8% decrease in volume.
Intermodal revenue grew 30%, driven by a 26% increase in revenue per load and complimented by a 4% increase in load volume.
Dedicated Contract Services revenue grew 34% Y/Y, reflecting an 18% Y/Y increase in average revenue-producing trucks and a 14% Y/Y increase in productivity.
Total freight transactions in the Marketplace for J.B. Hunt 360 increased by 7% to $552 million.
As of September 30, 2022, JBHT had $1.2 billion outstanding on various debt instruments.
The company had cash and equivalents of $84 million at the end of the quarter.
Buyback: JBHT purchased ~349,000 shares for ~$61 million. As of September 30, 2022, it had $551 million remaining under the share repurchase authorization.
Price Action: JBHT shares are trading higher by 2.57% at $172.20 in the pre-market on Wednesday.

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