Why J.B. Hunt Transport Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) shares fell after reporting Q1 2024 results with a 9% Y/Y decrease in operating revenue to $2.94 billion, missing the $3.12 billion consensus. Operating income dropped 30% Y/Y to $194.4 million, and EPS of $1.22 missed the $1.52 consensus. The company also repurchased $25 million in shares, with $366 million remaining under its authorization. Exposure to JBHT can be gained through IShares Trust IShares U.S. Transportation ETF (BATS:IYT) and VictoryShares Nasdaq Next 50 ETF (NASDAQ:QQQN).
April 17, 2024 | 10:44 am
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NEGATIVE IMPACT
IYT, which includes JBHT as part of its holdings, may see indirect impact due to JBHT's earnings miss and subsequent stock price decline.
As JBHT is a component of the IYT ETF, its stock performance, especially significant movements like this earnings miss, can affect the ETF's overall performance.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
J.B. Hunt's Q1 2024 earnings report showed a significant miss in both revenue and EPS, leading to a 6.01% drop in premarket trading.
The significant miss in both revenue and EPS expectations directly impacts investor sentiment and stock price, leading to a negative short-term outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
QQQN, holding JBHT, might experience minor indirect effects from JBHT's disappointing Q1 2024 earnings report.
Given JBHT's role within the QQQN ETF, the negative earnings report could slightly influence the ETF's performance, though the impact may be diluted across other holdings.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 40