J.B. Hunt Posts Higher 3Q Profit
J.B. Hunt Transport Services said its third-quarter profit rose from a year ago as intermodal volumes jumped and truck segment pricing improved.
Net income increased to $52.2 million, or 41 cents a share, from $40 million, or 31 cents, J.B. Hunt said late Thursday.
Revenue rose 18% to $986 million, which the company attributed to higher intermodal volumes, growth in its dedicated contract services segment and higher revenue in its truck segment.
Truck segment operating income jumped to $6.5 million, versus a $400,000 loss a year ago. Revenue rose 4% to $124 million, as segment pricing rose, the company said.
Intermodal segment operating income gained 22% to $60.3 million, while revenue rose 23% to $559 million.
Dedicated contract services operating income rose 17% to $22.1 million, while revenue rose 18% to $232 million.
“Load volume in our DCS segment, which we believe is a strong indicator of current customer demand and the general direction of the freight economy, continues to point toward steady business activity,” CEO Kirk Thompson said in a statement.
J.B. Hunt is ranked No.8 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
