J.B. Hunt analysts predict strong 2Q
Analysts are predicting solid profits and revenue gains when J.B. Hunt Transport Services Inc. releases its second-quarter results Monday.
A consensus of 22 analysts indicates that the Lowell-based trucking company will post earnings per share of $1.28 for the quarter ending June 30, compared with 88 cents for the year-ago period, a 45 percent increase. A group of 16 analysts expects revenue of $2.6 billion for the period, up from $1.73 billion, an increase of 19 percent.
In April, J.B. Hunt reported net income of $118.1 million, or $1.07 a share in the first quarter of 2018 and revenue of $1.95 billion. The company said at the time it benefited from a growth in volume, higher customer rates and new customer contracts.
J.B. Hunt shares rose 98 cents, or nearly 1 percent to close Friday at $121.83, in trading on the Nasdaq. Shares have traded as low as $88.33 and as high as $131.74 over the past year.
-- John Magsam
Savings goal raised for utilities in state
The Arkansas Public Service Commission issued an order Friday establishing higher energy-efficiency goals for electric and gas utilities in Arkansas.
For 2020-2022, the utility energy savings targets will be 1.2 percent of 2018 baseline sales for electric utilities. The target for natural gas utilities for the same years will be 0.50 percent, the commission said.
The targets, based on a proposal by the Sierra Club, Audubon Arkansas and the Arkansas Advanced Energy Association, are an increase from previous energy-efficiency targets, which had topped out at 1 percent for 2019. That established Arkansas as a leader of energy-efficiency savings in the South, according to a statement from the Sierra Club.
The increased targets will result in about 445 million kilowatt hours of additional energy savings per year in Arkansas, said Glen Hooks of the Sierra Club.
-- David Smith
State index' closes week with 0.53 gain
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, climbed 0.53 to 439.89 Friday.
Winners and losers were evenly divided.
Acxiom continued its rise, gaining 2.7 percent in heavy trading.
Bank of the Ozarks lost 2.1 percent in heavy trading volume.
For the week, 12 stocks declined and four advanced.
Total volume for the index was 19 million shares. The average daily volume for the week was 19 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 07/14/2018