J.B. Hunt Reports Record 2Q Income
J.B. Hunt Transport Services late Thursday reported record second-quarter earnings, as its net income jumped 26% to $65.7 million, or 53 cents per share.
The trucking, logistics and intermodal company earned $52.1 million, or 40 cents per share, in the year-ago period.
Revenue rose to $1.15 billion, up from $943 million a year ago, as its logistics, intermodal and trucking segments all showed improvement, J.B. Hunt said in a statement.
Operating income rose to $113 million, from $91 million a year ago.
Its intermodal segment’s operating income and revenue each jumped 29%, to $76.5 million and $676 million, respectively. Overall intermodal load growth rose 18%.
Truck segment operating income slipped 3% to $6.9 million, while segment revenue rose 4% to $130 million.
J.B. Hunt’s dedicated contract services unit reported a 23% increase in operating income to $27.4 million, as revenue rose 16% to $264 million.
Its integrated capacity solutions segment’s operating income rose 20% to $2.6 million, while revenue rose 27% to $89 million.
J.B. Hunt is ranked No. 8 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.