( ALK Quick Quote ALK - Free Report), both carrying a Zacks Rank #2 (Buy) at present. ( CPA Quick Quote CPA - Free Report) and Alaska Air Group, Inc. Investors interested in better-ranked stocks from the Zacks Transportation sector can consider Copa Holdings, S.A. Hunt currently carries a Zacks Rank #3 (Hold). JBHT's cash and cash equivalents were $52.60 million at the end of first-quarter 2023, much lower than the long-term debt of $991.71 million. Net interest expense for the first quarter of 2023 increased 17.5% year over year due to higher effective interest rates. During 2022, net interest expense increased 9.7% year over year. JBHT continues to incur higher interest expenses owing to higher interest rates and debt issuance costs. On the flip side, higher net interest expense is likely to mar J.B. The trucking company had approximately $520 million remaining under its share repurchase authorization on Mar 31, 2023. Hunt repurchased 183,000 shares for $30.8 million in the first quarter of 2023. The company is also active on the buyback front, having resumed the same in the fourth quarter of 2020 after a temporary pause amid coronavirus concerns. The move reflects JBHT’s intention to utilize free cash to enhance its shareholders’ returns. In January 2023, JBHT’s board of directors approved a dividend hike of 5%, thereby raising its quarterly cash dividend from 40 cents per share to 42 cents.ĭuring first-quarter 2023, JBHT paid $43.58 million in dividends. We are also impressed by the company’s efforts to reward its shareholders through dividend payments and share repurchases. The same climbed 31% year over year in 2022 and 17.4% year over year in 2021 due to fleet productivity improvement and an increase in average revenue-producing trucks, among other factors. Revenues from the DCS segment rose 13% from the year-ago period in first-quarter 2023 to $879 million due to a 7% increase in average revenue producing trucks and a 5% increase in productivity (revenue per truck per week) versus the prior period. The strong performance of the DCS segment is driving J.B. price-consensus-eps-surprise-chart | J.B.
0 Comments
Leave a Reply. |