Why J.B. Hunt Transport Services Shares Are Falling Today
Portfolio Pulse from Lekha Gupta
J.B. Hunt Transport Services (NASDAQ:JBHT) shares are down after reporting Q2 2024 results that missed revenue and EPS expectations. Operating revenue fell 7% Y/Y to $2.93 billion, missing the $3.05 billion consensus. Operating income decreased 24% Y/Y due to reduced revenue and increased expenses. EPS of $1.32 missed the $1.57 consensus. The company repurchased $203 million worth of shares in Q2 2024.
July 17, 2024 | 10:24 am
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NEGATIVE IMPACT
IShares U.S. Transportation ETF (IYT) may see a slight negative impact due to J.B. Hunt's disappointing Q2 2024 results, as JBHT is a component of the ETF.
As J.B. Hunt is a component of the IYT ETF, its poor performance may slightly drag down the ETF's overall performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
J.B. Hunt Transport Services reported disappointing Q2 2024 results, with operating revenue down 7% Y/Y and EPS missing expectations. Operating income also decreased 24% Y/Y due to higher expenses.
The company's Q2 2024 results showed a significant decline in operating revenue and income, coupled with an EPS miss. These factors are likely to negatively impact the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
SPDR S&P Transportation ETF (XTN) might experience a minor negative impact due to J.B. Hunt's underwhelming Q2 2024 results, as JBHT is part of the ETF.
Given that J.B. Hunt is included in the XTN ETF, its disappointing earnings could slightly affect the ETF's performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50