JB Hunt Soars on Profit Beat as Cost Controls Gain Traction

JB Hunt Transport Services Inc. shares rose in late trading after the freight transportation company reported a quarterly profit that topped expectations.
Third-quarter earnings of $1.76 a share topped the $1.46 average of analyst estimates compiled by Bloomberg. The results got a boost from a 12% increase in operating income at its intermodal unit, helped by cost-saving initiatives such as moving fewer empty containers, the company said. Bloomberg’s Lee Klaskow reports. (Source: Bloomberg)