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J.B. Hunt Transport Services, Inc. Announces Additional $500-Million Share Repurchase Authorization
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
buyback
Rhea-AI Summary
J.B. Hunt Transport Services has authorized a new share repurchase program worth $500 million for its common stock. The repurchase will depend on market conditions and cash flows, and the program may be suspended or discontinued at any time without notice. This initiative aims to enhance shareholder value by reducing the number of shares outstanding, potentially increasing earnings per share and benefiting stock performance. Investors should remain aware of the variable timing associated with the repurchases.
Positive
Authorization of a new $500 million share repurchase program to enhance shareholder value.
Potential increase in earnings per share due to reduced outstanding shares.
Negative
None.
LOWELL, Ark.--(BUSINESS WIRE)--
J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) announced today that its Board of Directors adopted a new share repurchase program authorizing the repurchase of an additional $500 million of the Company’s common stock. The specific timing and amount of the repurchase will vary based on market conditions, cash flows, securities law limitations and other factors. The repurchase program may be suspended, extended or discontinued at any time without prior notice.
About J.B. Hunt
J.B. Hunt Transport Services, Inc., an S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America. Utilizing an integrated, multimodal approach, the company applies technology-driven methods to create the best solution for each customer, adding efficiency, flexibility, and value to their operations. J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, final mile, and more. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.
J.B. Hunt Transport Services, Inc. Brad Delco Senior Vice President - Finance
(479) 820-2723
Source: J.B. Hunt Transport Services, Inc.
FAQ
What is the purpose of J.B. Hunt's $500 million share repurchase program?
The purpose of the share repurchase program is to enhance shareholder value by reducing outstanding shares, which may lead to an increase in earnings per share.
When will J.B. Hunt begin repurchasing shares under its new program?
The specific timing of the share repurchases will vary based on market conditions, cash flows, and other factors.
What could affect J.B. Hunt's share repurchase program?
The share repurchase program may be suspended, extended, or discontinued at any time without prior notice.
How might the share repurchase impact J.B. Hunt's stock price?
A reduction in outstanding shares through the repurchase program can potentially lead to an increase in stock price due to improved earnings per share.
