J.B. Hunt Shares Fall 13% After Company Warns of Third-Quarter Earnings Decline
Trucking and logistics firm J.B. Hunt Transport Services said it expects earnings to drop between 5% and 10% in the third quarter, sending its stock sharply lower.
Shares of J.B. Hunt Transport Services fell 13% on Wednesday after the company warned that its third-quarter earnings are expected to decline between 5% and 10%, according to CNBC.
The warning triggered a sharp sell-off in the stock, marking one of the company's steepest single-day declines in recent trading sessions, CNBC reported.
J.B. Hunt, one of the largest trucking and intermodal logistics companies in the United States, did not immediately provide additional details in the reported excerpt regarding the specific factors driving the anticipated earnings shortfall.
The stock movement reflects investor concern over the company's near-term financial performance, based on the earnings guidance disclosed by the company.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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