J.B. Hunt’s 1Q Income Dips
Truckload carrier J.B. Hunt Transport Services reported its first-quarter profit declined to $44.2 million or 30 cents a share, from $49 million or 31 cents a year ago.
Revenue rose 2% to $797 million, the company said late Monday. Operating income dipped 1% to $80 million.
J.B. Hunt Chief Executive Officer Kirk Thompson said the company “experienced softer freight volumes” in its truck segment and that harsh weather negatively affected all segments in February.
Truck segment revenue fell 11% to $214 million, while operating income fell 47% to $11.4 million.
Intermodal segment revenue rose 9% to $354 million, while operating income rose 30% to $46.6 million.
J.B. Hunt is ranked No. 10 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
