This is our first report on a J.B. Hunt Transport, a major global transportation and logistics player. The company’s results for the quarter were well below par given the fact that freight volumes were constrained by fragile demand compared to the year’s earlier quarters. Revenue increased by 22%, operating income by 27%, and earnings per share by 29% during the fiscal year 2022. Consolidated sales for the quarter 4% year over year, but operating income and GAAP earnings per share decreased by 13% and 16%, respectively. J.B. Hunt Transport maintains a solid balance sheet and should have decent liquidity in the coming year. The management anticipates spending between $1.5 billion and $2 billion on capital for company needs in 2023. This includes increased demand for replacement parts due to equipment problems encountered over the previous two years, increased capital expenditures to support investments, especially in JBI and DCS, and real estate purchases. We initiate coverage on the stock of J.B. Hunt Transport Services, Inc. with a ‘Hold’ rating.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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