PREVIEW: J.B. Hunt shares edge up; focus on diesel costs ahead of results
BUZZ-PREVIEW: J.B. Hunt shares edge up; focus on diesel costs ahead of results ** J.B. Hunt Transport Services JBHT.O shares gaining 1% on Thurs ahead of qtrly results, due after the bell, with investors likely to focus on the impact of escalating diesel fuel costs
** The trucking and logistics co is expected to report qtrly rev up 17% to $3.57 bln vs $3.05 bln in the yr-ago period, and adj EPS of $1.89 vs $1.76 a yr ago, per LSEG
** In September, J.B. Hunt's finance chief warned of a sequential drop of 5% to 10% in third-quarter profit, noting that higher transportation rates, which included a rise in diesel prices and driver rates going into the peak holiday season, have drastically raised costs for the company
** Prices for diesel have surged to record highs in many markets amid disrupted supply from the war in the Middle East and the Russia-Ukraine conflict
** Bernstein this week cut its PT on JBHT to $307 from $329
** The median Wall Street 12-mo PT on the stock is $290, down from $315 a month ago; the stock was last at $234.59
** Analyst ratings on the stock include 15 "strong buy" or "buy" ratings, nine "hold" ratings and one "sell"
** The stock has surged about 20.5% YTD, outperforming the Nasdaq's .IXIC 14.5% rise
(Reporting by Caroline Valetkevitch )
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J.B. Hunt Transport Services, Inc. reports results for the quarter ended September 30 - Earnings Summary
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Brief: J.B. Hunt Q3 Revenue USD 3,680 Million Vs. IBES Estimate USD 3,567 Million