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Updated:
3/9/2009 11:00:00 AM
J.B. Hunt Selling Some Truck Equipment
J.B. Hunt Transport Services Inc. is selling some trucking equipment as demand for over-the-road shipments remains soft in a down economy, but plans to boost its intermodal and brokerage businesses, the (Northwest Arkansas) Morning News reported.
It will reduce the size of its truck segment and will sell about 1,100 trailers, according to a report the company filed with the Securities and Exchange Commission late last month, the paper said.
Trucks with Environmental Protection Agency-mandated engines since 2007 have boosted costs of operating the tractors by 10%, the company said in the filing, the paper reported.
The truckload carrier reported $3.7 billion in revenue last year, 52% of revenue came from the intermodal segment, the paper reported on its Web site.
J.B. Hunt’s truck segment revenue declined 19.6% last year from 2007, to $676 million.
J.B. Hunt is ranked No. on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
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