J.B. Hunt’s Income Rises in Third Quarter
J.B. Hunt Transport Services’ net income increased in the third quarter to $102.4 million, or 87 cents per share, from $89.5 million, or 75 cents per share.
Revenue rose to $1.6 billion from $1.44 billion, the company said Oct. 14.
Income in intermodal segment JBI increased 6% to $125 million. Operating income at truck segment JBT increased more than 500% to $4.3 million on increased rates per loaded mile and a smaller trailer fleet.
Dedicated contract-services segment DCS increased income 17% to $34.3 million.
“The increase in operating income from load growth, higher productivity and rate increases was partially offset by lower box turns from slower train speeds, increases in driver-recruiting costs, higher rates paid to third-party carriers, higher driver-mileage pay, higher equipment costs, and higher insurance and workers’ compensation costs,” the company said in a statement.
J.B. Hunt ranks No. 3 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.