Intermodal revenues rose 23 percent on a shift in shipping demand spurred by higher fuel prices prices and capacity shortages in the truck market.
Intermodal represents more than 60 percent of total revenue.
The company earned $50.1 million, or 40 cents a share, and revenue rose 18 percent to $1 billion. This surpassed average estimates of 38 cents a share profit and $965.2 million revenues, according to Thomson Reuters I/B/E/S.
Raymond James analysts raised their price target on the company's shares to $49 from $46, noting the quarter's results topped estimates despite severe winter weather and a customer bankruptcy.
"Further, given a 'favorable' bid season in Q1, Intermodal as well as Truckload appears to have strong pricing momentum going forward," the analysts wrote in a research.
Avondale Partners said it is slightly raising its revenue estimates mainly because of a 2,600 increase in containers the company received in the quarter.
Avondale analysts now look for $1.1 billion revenues in the second quarter, $4.47 billion in fiscal 2011 and $5 billion in fiscal 2012.
Jefferies & Co analysts, reiterating a buy rating, said J.B. Hunt is "arguably the best sustainable volume growth story in domestic transportation." (Reuters)
