By Yasin Ebrahim
Investing.com - JB Hunt (NASDAQ:JBHT) reported Tuesday fourth quarter results that beat analysts' forecasts on both the top and bottom lines as rising freight rates helped offset a decline in volumes.
JB Hunt shares gained 1% in after-hours trade following the report
JB Hunt announced earnings per share of $2.28 on revenue of $3.5 billion. Analysts polled by Investing.com anticipated EPS of $2.01 on revenue of $3.28 billion.
"Despite these volume-related challenges, revenue increased 26% for the quarter versus the prior year, driven by a 30% increase in revenue per load resulting from changes in the mix of freight, customer rates, and fuel surcharge revenues," company said.
Volumes declined 3% amid ongoing network fluidity challenges driven by "rail restrictions and customer detention of equipment, were even further impacted by weather, derailments and COVID-related labor shortages and disruptions during the quarter," it added.
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