J.B. Hunt Raises Third-Quarter Net by 14%
J. B. Hunt Transport Services Inc. said net income in the third quarter rose 14% to $89.5 million, or 75 cents per share, from $78.2 million, or 65 cents per diluted share the year before, helped by stronger intermodal results.
Revenue rose to $1.44 billion from $1.30 billion, an 11% improvement. The company also said intermodal loads rose 11.6% and that results were favorable in the dedicated contract carriage and brokerage units. However, revenue in its all-highway unit fell 17% because of fleet-size reduction and poorer tractor utilization.
J.B. Hunt, based in Lowell, Ark., ranks No. 4 on Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
Its earnings report was the first among trucking companies for the third quarter and lagged the expected results of 77 cents per share in a Bloomberg News analyst survey.
Hunt also said that operating income was $151 million, which excludes interest and taxes. That is a 14% improvement over the 2012 quarter. Intermodal accounted for more than three-fourths of operating income.