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J.B. Hunt nets earnings
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April 14, 1999: 11:33 a.m. ET
Low fuel costs, improved safety helps transporter beat 1Q estimates by a penny
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NEW YORK (CNNfn) - J.B. Hunt Transport Services Inc. kept on trucking Wednesday, beating Wall Street earnings estimates by a penny.
J.B. Hunt (JBHT) reported first-quarter net earnings of $10.6 million or 29 cents per diluted share, beating First Call's estimate of 28 cents per share.
The Lowell, Ark.-based company earned $9.5 million, or 26 cents per diluted share in the year ago period.
Total revenue increased to $470.2 million in the first quarter of 1999 from $413.5 million in the comparable period of 1998.
The company said lower fuel costs and improved safety results helped net earnings, but fuel costs increased significantly during March and early April of 1999.
And while accidents reached record lows in the first quarter, the cost of three serious collisions in February and March exceeded recent trends and cut into first-quarter earnings by 4 cents per share.
J.B. Hunt was up 11/16 at 16-3/4 in late morning trading.
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J.B. Hunt
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