J.B. Hunt Transport Services reports lower Q4 revenue but higher operating income, stock drops.
J.B. Hunt Transport Services reported a 5% drop in Q4 revenue to $3.15 billion and earnings per share of $1.53, missing estimates. Despite the decline, operating income rose 2% to $207 million. The company's Intermodal segment saw a 2% revenue drop, while Dedicated Contract Services revenue fell 5%. J.B. Hunt's Integrated Capacity Solutions division experienced a 15% revenue decline. The stock declined following the report, with Wells Fargo lowering its price target. CEO Shelley Simpson remains optimistic about achieving 2024 goals and plans to focus on operational excellence.
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