J.B. Hunt’s 2Q Income Falls by Half
J.B. Hunt Transport Services’ second-quarter net income fell 52.5% to $24.1 million, or 19 cents per share, from $50.6 million, or 39 cents, a year earlier.
Revenue fell 21.2% to $769.8 million, the company said late Tuesday.
The company’s trucking segment took an operating loss of $4 million, compared with a profit of $3.4 million a year ago, while revenue fell 43.7% to $108 million, the company said.
The decline in truck revenues was primarily a result of slow demand, the company said in a statement. Demand improved slightly in May and stabilized thereafter, the company said.
Intermodal segment operating income fell 41% to $38.8 million, while revenue fell 14.3% to $425 million.
Its dedicated contract services segment’s operating income fell 63.7% to $8.1 million, while revenue declined 28.4% to $174.2 million.
J.B. Hunt is ranked No.8 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
