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Shares of J.B. Hunt Transport Services Inc.
JBHT,
+4.95%

dropped 5.3% toward a three-month low in premarket trading Wednesday, after the trucking company reported fourth-quarter results that missed expectations, amid declines in intermodal volume and total freight transactions and an increase in casualty claim expense. Net income fell to $201.3 million, or $1.92 a share, from $242.2 million, or $2.28 a share, in the year-ago period. The FactSet consensus for earnings per share was $2.44. Total revenue grew 4.4% to $3.65 billion but missed the FactSet consensus of $3.81 billion. Operating expenses rose more than sales, up 6.1% to $3.37 billion. For intermodal, or deliveries using at least two modes of transportation, volume fell 1% but revenue rose 11% due to a 12% increase in revenue per load, boosted by changes in mix, customer rates and fuel surcharges. Separately, revenue producing trucks increased 14% and fell productivity rose 3%. The stock has gained 5.0% over the past three months, while the Dow Jones Transportation Average
DJT,
-0.43%

has advanced 7.2% and the Dow Jones Industrial Average
DJIA,
-1.81%

has climbed 11.1%.


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