J.B. Hunt Transport Services Inc. (NASDAQ:JBHT) reported a 7.6% decline in profit for the first quarter on Tuesday.
The company posted quarterly revenue of $2.92 billion, compared to market estimates of $2.90 billion. Earnings came in at $1.17 per share, versus estimates of $1.19 per share.
J.B. Hunt said it repurchased approximately 1.4 million shares of its common stock in the first quarter for approximately $234 million. The company had approximately $650 million remaining under its buyback at quarter's end.
JB Hunt did not provide forward guidance in the earnings release. Management will further discuss the quarter on a conference call scheduled for 5 p.m. ET.
J.B. Hunt Transport shares dipped 5.7% to trade at $127.46 on Wednesday.
These analysts made changes to their price targets on J.B. Hunt Transport following earnings announcement.
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