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J.B. Hunt Transport Services Inc. (JBHT - Free Report) reported mixed fourth-quarter 2016 financial results. The company’s bottom line missed the Zacks Consensus Estimate, whereas the top line surpassed expectations.
This transportation company’s earnings of 97 cents per share (excluding a one-time after tax benefit) missed the Zacks Consensus Estimate of $1.
The bottom line dipped 4% on a year-over-year basis due to higher operating expenses. Total operating revenues increased 6% year over year to $1.72 billion and were ahead of the Zacks Consensus Estimate of $1.71 billion. Excluding fuel surcharges, operating revenues grew 6% year over year.
During the quarter, the company repurchased approximately 880,000 shares for $75 million. Operating income in the fourth quarter increased marginally to $194 million. Higher revenues in the Intermodal (JBI), Dedicated Contract Services (DCS) and Integrated Capacity Solutions (ICS) segments contributed to the increase in operating income in the quarter.
Segmental Performance
The Intermodal division reported quarterly revenues of $998 million, up 3% year over year. Overall volumes in the segment climbed 5%. Revenue per load, excluding fuel surcharge revenues, dipped 2%. Operating income decreased 3% year over year to $124 million.
Dedicated Contract Services revenues grew 8% year over year to $398 million. The company added new trucks to the fleet and customer retention rates remained above 98%. Operating income jumped 37% year over year to $57.5 million, mainly due to higher revenues and improved asset utilization.
Integrated Capacity Solutions revenues surged 22% year over year to $232 million on the back of 38% increase in load volumes. On a year-over-year basis, revenue per load plunged 12%. Operating income declined 52% to $6.1 million due to lower gross profit margin and higher costs.
Truck revenues decreased 3% to $96 million. At the end of 2016, the company operated 2,128 tractors, down marginally year over year. Operating income decreased 35% to $6.75 million due to lower customer rates per mile and higher costs.
JB Hunt Transport Services Inc. Price, Consensus and EPS Surprise
At the end of 2016, cash and cash equivalents were $6.4 million compared with approximately $5.6 million at the end of 2015 Long-term debt was $986.3 million compared with $998 million at the end of 2015.
Upcoming Releases
Investors interested in the transportation sector are keenly awaiting for fourth-quarter earnings reports from key players like Canadian National Railway Company (CNI - Free Report) , Norfolk Southern Corp. (NSC - Free Report) and Kansas City Southern in the coming days. Kansas City Southern is scheduled to report on Jan 20, while Canadian National and Norfolk Southern are scheduled to report on Jan 24 and Jan 25, respectively.
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J.B. Hunt (JBHT) Misses Q4 Earnings, Beats Sales Estimates
J.B. Hunt Transport Services Inc. (JBHT - Free Report) reported mixed fourth-quarter 2016 financial results. The company’s bottom line missed the Zacks Consensus Estimate, whereas the top line surpassed expectations.
This transportation company’s earnings of 97 cents per share (excluding a one-time after tax benefit) missed the Zacks Consensus Estimate of $1.
The bottom line dipped 4% on a year-over-year basis due to higher operating expenses. Total operating revenues increased 6% year over year to $1.72 billion and were ahead of the Zacks Consensus Estimate of $1.71 billion. Excluding fuel surcharges, operating revenues grew 6% year over year.
During the quarter, the company repurchased approximately 880,000 shares for $75 million. Operating income in the fourth quarter increased marginally to $194 million. Higher revenues in the Intermodal (JBI), Dedicated Contract Services (DCS) and Integrated Capacity Solutions (ICS) segments contributed to the increase in operating income in the quarter.
Segmental Performance
The Intermodal division reported quarterly revenues of $998 million, up 3% year over year. Overall volumes in the segment climbed 5%. Revenue per load, excluding fuel surcharge revenues, dipped 2%. Operating income decreased 3% year over year to $124 million.
Dedicated Contract Services revenues grew 8% year over year to $398 million. The company added new trucks to the fleet and customer retention rates remained above 98%. Operating income jumped 37% year over year to $57.5 million, mainly due to higher revenues and improved asset utilization.
Integrated Capacity Solutions revenues surged 22% year over year to $232 million on the back of 38% increase in load volumes. On a year-over-year basis, revenue per load plunged 12%. Operating income declined 52% to $6.1 million due to lower gross profit margin and higher costs.
Truck revenues decreased 3% to $96 million. At the end of 2016, the company operated 2,128 tractors, down marginally year over year. Operating income decreased 35% to $6.75 million due to lower customer rates per mile and higher costs.
JB Hunt Transport Services Inc. Price, Consensus and EPS Surprise
JB Hunt Transport Services Inc. Price, Consensus and EPS Surprise | JB Hunt Transport Services Inc. Quote
Liquidity
At the end of 2016, cash and cash equivalents were $6.4 million compared with approximately $5.6 million at the end of 2015 Long-term debt was $986.3 million compared with $998 million at the end of 2015.
Upcoming Releases
Investors interested in the transportation sector are keenly awaiting for fourth-quarter earnings reports from key players like Canadian National Railway Company (CNI - Free Report) , Norfolk Southern Corp. (NSC - Free Report) and Kansas City Southern in the coming days. Kansas City Southern is scheduled to report on Jan 20, while Canadian National and Norfolk Southern are scheduled to report on Jan 24 and Jan 25, respectively.
Zacks Rank
J.B. Hunt currently carries a Zacks Rank # 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>