J B Hunt Transport Beats Q1 Expectations, Clocks 33% Revenue Growth

J B Hunt Transport Services Inc JBHT reported first-quarter revenue growth of 33.3% year-over-year to $3.49 billion, beating the consensus estimate of $3.28 billion.
EPS was $2.29, which beat the consensus of $1.94.
The operating income improved by 61% Y/Y to $334.29 million, and the margin expanded by 165 bps to 9.6%.
Truckload and Integrated Capacity Solutions grew revenue by 77% and 29% year-over-year.
Intermodal revenue grew 36%, driven by a 28% increase in revenue per load and complimented by a 7% increase in load volume.
Dedicated Contract Services revenue grew 28% Y/Y, reflecting a 20% Y/Y increase in average revenue-producing trucks and a 6% Y/Y increase in fleet productivity.
Total freight transactions in the Marketplace for J.B. Hunt 360 increased 36% to $600 million.
At March 31, 2022, JBHT had a total of $1.30 billion outstanding on various debt instruments.
The company had cash and cash equivalents of $145 million at the end of the quarter.
Buybacks: JBHT purchased ~382,000 shares for ~$75 million. At March 31, 2022, had ~$276 million remaining under the share repurchase authorization.
Price Action: JBHT shares are trading higher by 1.49% at $174 during the post-market session on Monday.

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