J.B. Hunt’s 2Q Income Improves
J.B. Hunt Transport Services said late Monday its second-quarter net income rose from a year ago as operating income at three of its four business segments each rose more than 20%.
Net income increased to $80.5 million, or 67 cents per share, from $65.7 million, or 53 cents, a year earlier.
Revenue rose to $1.26 billion, from $4.15 billion a year ago, the company said in a statement.
Truck segment operating income rose 27% to $8.8 million, while revenue slipped 3% to $126 million.
Favorable changes in freight mix, strong seasonal spot pricing, steadily declining fuel costs and improvements in fuel efficiency were partially offset by increases in driver wages, independent contractor costs, lower utilization and higher empty miles, the company said.
Intermodal operating income climbed 22% to $93.4 million on steady demand. Revenue gained 13% to $762 million.
Its dedicated contract services unit’s operating income rose 21% to $33.2 million, while revenue rose 1% to $267 million.
Operating income for integrated capacity solutions fell 25% to $2 million, though revenue rose 23% to $109 million.
J.B. Hunt is ranked No. 5 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.