J.B. Hunt’s 2Q Income Improves
J.B. Hunt Transport Services said Monday its second-quarter profit rose from a year ago, as growth in its intermodal and dedicated contract services segments offset lower trucking revenue.
Net income rose to $87.7 million, or 73 cents a share, from $80.5 million, or 67 cents, in last year’s second quarter.
Revenue rose almost 10% to $1.38 billion and operating revenue excluding fuel surcharges rose 11%, the company said.
Intermodal load growth and revenue each rose 12%, while revenue at its integrated capacity solutions unit’s revenue improved by 20% on 29% load growth.
Dedicated contract services segment revenue rose 13% as new, large private fleet conversions continued to be implemented, and truck segment revenue fell 20%, primarily from a smaller fleet and lower utilization.
J.B. Hunt is ranked No. 5 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.
