J.B. Hunt shares edge up; focus on diesel costs ahead of results
JBHT•J.B. Hunt shares gained 1% ahead of quarterly results due after the bell, with investors likely to focus on diesel costs. Analysts expect revenue of $3.57 billion and adjusted earnings of $1.89 per share, up from $3.05 billion and $1.76 a year earlier.
1. Results in focus
J.B. Hunt Transport Services shares gained 1% ahead of quarterly results due after the bell. Analysts expect quarterly revenue to rise 17% to $3.57 billion and adjusted earnings to reach $1.89 per share, compared with $3.05 billion and $1.76 a year earlier.
2. Higher cost pressures
In September, the company’s finance chief warned of a sequential decline of 5% to 10% in third-quarter profit, citing higher transportation rates that included rising diesel prices and driver rates. Diesel prices have surged to record highs in many markets, with supply disrupted by the war in the Middle East and the Russia-Ukraine conflict.
3. Analyst targets
Bernstein cut its price target to $307 from $329. The median 12-month Wall Street price target fell to $290 from $315 a month earlier; analyst ratings included 15 buys or strong buys, nine holds and one sell. The shares were up about 20.5% year to date, compared with a 14.5% gain for the Nasdaq.
