Why J.B. Hunt Stock Dropped Today
J.B. Hunt shares dropped more than 13% after CFO Brad Delco told a Morgan Stanley investor conference that Q3 earnings would fall 5% to 10% from Q2.
Overview
J.B. Hunt Transport Services (NASDAQ: JBHT) shares fell 13.3% on Wednesday, Sept. 16, after the company warned investors that rising diesel and driver costs would reduce third-quarter earnings.
The S&P 500 fell 0.44%, and the Nasdaq Composite slipped 0.01%.
Details
J.B. Hunt, a major trucking and freight company, told investors that they should expect the company to show reduced earnings in its next quarterly update. That's due to $25 million in "additional driver expenses" and $10 million or more from rising fuel prices.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.