J.B. Hunt Reveals 2016 Revised Financial Expectations - Quick Facts

(RTTNews) - J.B. Hunt Transport Services, Inc. (JBHT) announced, for fiscal 2016, the company now expects 7% annual increase in revenue, along with 5% increase in operating income. In November 2015, the company projected fiscal 2016 revenue to increase 9-12%, along with 8-11% increase in operating income. For fiscal 2016, J.B. Hunt continues to expect total CapEx to be $537 million.

The company reported second quarter 2016 net earnings of $105 million, or earnings per share of $0.92 compared to $103 million, or $0.88 per share, prior year. Operating income for the current quarter totaled $176 million compared to $174 million for the second quarter 2015. The company said benefits of volume growth, increases in revenue producing truck counts and higher equipment utilization, were substantially offset by increases in rail purchased transportation costs, higher driver wages and recruiting costs and increased equipment ownership costs.

On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.97 for the quarter. Analysts' estimates typically exclude special items.

Total operating revenue for the current quarter was $1.62 billion, compared with $1.54 billion for the second quarter 2015, an increase of 5%. Current quarter total operating revenue, excluding fuel surcharges, increased 9%. Analysts expected revenue of $1.62 billion for the quarter.