© Reuters
Investing.com — J.B. Hunt shares were falling after-hours on Tuesday after the transportation and logistics company fell slightly short on profit expectations in the third quarter.
The company reported earnings per share of $1.80 on revenue of $3.16 billion. Wall Street analysts expected EPS of $1.83 on revenue of $3.17 billion.
Shares were down 2.2% after hours. They are down up more than 12% so far this year.
The company said operating revenue fell 18% from the same time a year ago, or 15% without fuel surcharge revenue. The drop was driven by decreases in intermodal and truckload revenue per load (not counting fuel surcharge revenue), a drop in volume in its Integrated Capacity Solutions business, a drop in stops in its Final Miles Services unit and a drop in average revenue producing trucks in its Dedicated Contract Services operation.
J.B. Hunt said on Sept. 14 it would buy the brokerage operations of BNSF Logistics, LLC, and that deal closed on Sept. 30. The company said the results of the acquisition will begin to be reflected in the fourth quarter.
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