J.B. Hunt’s 1Q Income Improves
J.B. Hunt Transport Services said late Thursday its first-quarter net income rose from a year ago as operating income at two of its four business segments rose more than 20%.
Net income increased to $73.3 million, or 61 cents per share, from $67.7 million, or 57 cents, a year earlier.
Revenue rose to $1.29 billion from $1.17 billion a year ago, the company said in a statement.
Truck segment operating income plunged 78% to $1.1 million, while revenue fell 21% to $102 million on a 21% reduction in fleet size and lower utilization per truck, the company said. At the end of the quarter, J.B. Hunt operated 2,011 tractors from 2,561 a year ago.
Intermodal operating income climbed 22% to $96.8 million on load volume and higher revenue per load. Revenue gained 15% to $796 million.
Dedicated contract services segment operating income fell 22% to $21.9 million. Revenue increased 9% to $279 million.
Integrated capacity solutions operating income increased 27% to $5.2 million and revenue rose 26% to $122 million.