Hot Stock to watch: J B Hunt Transport Services Inc (NASDAQ: JBHT)

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J B Hunt Transport Services Inc (NASDAQ: JBHT) stock rose over 2.1% on April 15th, 2020 (as of 1:53 pm GMT-4; Source: Google finance) after the company posted better than expected results for the first quarter of FY 20. The company has reported first-quarter net income of $104.8 million, compared to $119.6 million, in the year-ago period. At the end of March, 2020, the company had a total of $1.30 billion outstanding on various debt instruments compared to $1.28 billion at March 31, 2019, and $1.30 billion at the end of December, 2019. At the end of March, 2020, the company’s cash and cash equivalents stood at $48 million. The company had incurred the net capital expenditures for the first quarter 2020 of approximately $129 million compared to $212 million for the first quarter 2019.

Dedicated Contract Services (DCS) segment revenue rose by 10% over the prior year mainly due to the additional customer contracts and higher fleet utilization. The newly reported Final Mile Services (FMS) segment posted revenue growth of 39% over the prior year, mainly from the February 2019 and December 2019 acquisitions. Integrated Capacity Solutions (ICS) segment revenue grew 12% mainly from a 2% increase in load growth and a favorable change in customer freight mix. Truck (JBT) segment revenue rose 3% mainly from a 15% rise in load growth, which is offset by lower rates and changes in customer mix.

JBHT in the first quarter of FY 20 has reported the adjusted earnings per share of 98 cents, beating the analysts’ estimates for the adjusted earnings per share of 95 cents. The company had reported the adjusted revenue growth of 9 percent to $2.28 billion in the first quarter of FY 20, beating the analysts’ estimates for revenue of $2.19 billion. First quarter total operating revenue, excluding fuel surcharges, rose 10% compared to first quarter 2019. There is a 7% increase in load volume in Intermodal (JBI), which was partially offset by a 1% decline in revenue per load, contributed to a 6% growth in segment revenue versus the prior year period.

Additionally, in the first quarter 2020, the company had purchased approximately 798,000 shares of common stock for approximately $75 million. At the end of March, 2020, the company had approximately $520 million remaining under the share repurchase authorization.

For the second quarter, analysts projects the earnings to be of $1.12 a share on sales projected to be of $2.22 billion.

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