Yasin Ebrahim
Investing.com - JB Hunt (NASDAQ:JBHT) reported Monday second quarter earnings that beat analysts' forecasts as volumes and cost improvements.
JB Hunt announced earnings per share of $1.61 on revenue of $2.91 billion. Analysts polled by Investing.com anticipated EPS of $1.57 on revenue of $2.71 billion.
JBI load volumes increased 6% over the same period in 2020, with Eastern network volumes rising 9% and transcontinental volumes rising 3% from second quarter 2020.
Total freight trading on the JB Hunt 360 Marketplace increased from $281 million in the year-ago quarter to $500 million in the second quarter of 2021.
"Operating income increased 26% from the prior year period primarily driven by the increase in volume, complemented with higher rate and cost recovery efforts," the company said.
JB Hunt's report follows an earnings missed by FedEx on June 24, which reported EPS of $5.01 on revenue of $22.6 billion, compared to forecasts EPS of $5.02 on revenue of $21.52 billion.
Delta Air Lines had beat expectations on Wednesday with a second quarter per-share loss of $1.07 on revenue of $7.13 billion, compared to forecast loss of $1.38 a share on revenue of $6.22 billion.
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