JB Hunt (NASDAQ:) reported its quarterly earnings results late in the day Monday, bringing in a profit that missed Wall Street’s expectations, while revenue also missed the guidance, playing a role in JBHT stock sinking more than 3% after the bell today.
The Lowell, Ar.-based trucking and transportation services provider said that for its first quarter of its fiscal 2019, it amassed a profit of $119.6 million, or $1.09 per share. This was roughly 1.3% ahead of the $118.1 million, or $1.07 per share that the Wall Street consensus estimate predicted.
However, JB Hunt’s earnings were below the $1.25 per share that analysts who were surveyed by FactSet were calling for in their consensus estimate. The company’s revenue was also up by about 7% when compared to the year-ago quarter, reaching $2.09 billion.
Wall Street said in its guidance that it saw the business bringing in revenue of $2.2 billion, according to data compiled by FactSet.
JBHT stock was down 1.1% during regular trading hours Monday as the company geared up to report for its quarter. Shares then fell about 3.8% after the bell off the heels of an underwhelming quarterly report.
The company has been around since 1961, founded by Johnnie Bryan Hunt and starting out with five trucks and five refrigerated trailers with the hopes of supporting the rice hull business. JB Hunt now has more than 12,000 trucks, as well as over 50,000 workers.
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