J.B. Hunt tumbles after CFO's profit warning
JBHT•Timing mismatch pressures intermodal pricing
Delco pointed to a timing mismatch in which intermodal prices are slow to adjust while costs are rising quickly.
According to data compiled by LSEG, 14 of 25 brokerages rate the stock "buy" or above, 10 rate it "hold" and one rate it "sell," with a median price target of $309.
As of the previous close, the stock had risen about 41% year to date.
Shares fall after CFO warns of lower third-quarter earnings
Shares of U.S. trucking firm J.B. Hunt fell more than 11% to $242.50 in premarket trading after Chief Financial Officer Brad Delco warned that third-quarter earnings would drop by 5% to 10% compared with the second quarter amid a spike in fuel and labor costs.
"You saw our JBT business actually lost a little bit of money. ICS broker margins got squeezed," the CFO said.
