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J.B. Hunt Transport Services Inc (NASDAQ:JBHT) shares are driving higher after the close following a big beat on top and bottom line estimates in its first quarter earnings report.
The company reported strong growth across business segments, with a revenue increase of 33.2% year over year and a 61% jump in operating income. Even the firm’s “Final Mile” delivery service marked an 8% revenue increase in the face of persistent supply chain and staffing problems. The firm’s acquisition of Zenith Freight Lines in February was cited as a crucial catalyst to this performance.
Shares of J.B. Hunt (JBHT -0.3%) accelerated about 2% in extended hours trading.
To be sure, concerns remain on the firm’s pricing power in the current market environment, as cited by Goldman Sachs last week.
