J.B. Hunt Transport Earnings Rise
J.B. Hunt Transport Services Inc. reported that its fourth-quarter net income rose 9.4% to $91.9 million, or 77 cents per share, helped by stronger intermodal, brokerage and dedicated freight business.
Earnings rose from $84.0 million, or 70 cents per share in the prior year period. Revenue increased to $1.47 billion from $1.34 billion, or 10%.
Intermodal loads rose 13%, and revenue increased 11% to $915 million. Brokerage revenue rose 13% to $145 million, driven by increased loads and revenue per shipment. Dedicated revenue climbed 17% to $331 million, mostly from newly added business, the Lowell, Ark.-based company said.
Revenue fell 19% at the truck unit to $91 million as the fleet was reduced by 11%. Hunt announced last month that it was restructuring that segment, where profits have been under pressure in recent years. That unit lost $1 million in the quarter before interest and taxes after posting $5.2 million operating income in the 2012 period.
The carrier ranks No. 4 on Transport Topics top 100 for-hire carriers in the United States and Canada.