J.B. Hunt’s 4Q Income Improves
J.B. Hunt Transport Services’ fourth-quarter and full-year profits rose, led by gains at its intermodal and dedicated contract services segments.
Net income rose to $84 million, or 70 cents per share, from $72.6 million, or 61 cents, a year ago. Revenue rose 11% to $1.34 billion, the company said Thursday.
Intermodal operating income jumped 24% to $104.2 million, as revenue rose 13% to $821 million. Volume improved 11% from the previous fourth quarter.
Its dedicated contract services segment’s operating income rose 7% to $29.4 million, while revenue gained 9% to $284 million.
Truck segment operating income dropped 27% to $5.2 million, while revenue fell 12% to $113 million, due primarily to a 19% reduction in fleet size from a year ago.
For the full year, the company earned $310.4 million, or $2.59 per share, up from $257 million, or $2.11, a year earlier. Revenue rose 12% to $5.1 billion.
J.B. Hunt is ranked No. 5 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.