J.B. Hunt's Income Rises in Second Quarter
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J.B. Hunt Transport Services’ net income increased in the second quarter to $93.4 million, or 79 cents per share, from $87.7 million, or 73 cents per share.
Revenue rose to $1.55 billion from $1.38 billion, the company said July 15.
Income in its intermodal segment, JBI, increased 2% to $113.4 million. Operating income at its truck segment, JBT, increased 217% to $9.4 million on equipment sales, lower personnel costs and a smaller trailer fleet.
Its dedicated contract services segment, DCS, increased income 2% to $30.3 million
“The slowdown in train velocity and the difficult driver recruiting environment has challenged our growth in JBI. We are pleased we were able to maintain profitability levels despite these obstacles. The worsening driver supply conditions will continue to be a headwind for DCS and JBT as well,” CEO John Roberts said in a statement.
“The planned improvement in JBT is ahead of schedule, and though there is more to do, we are extremely pleased with the progress thus far,” he said.
J.B. Hunt ranks No. 3 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
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