J.B. Hunt’s 3Q Income Improves
J.B. Hunt Transport Services said late Thursday its third-quarter net income rose from a year ago as operating income at two of its four business segments rose more than 20%.
Net income increased to $78.2 million, or 65 cents per share, from $68.7 million, or 57 cents, a year earlier.
Revenue rose to $1.3 billion, from $1.17 billion a year ago, the company said in a statement.
Truck segment operating income declined 41% to $4 million, while revenue slipped 8% to $117 million on an approximate 9% reduction in fleet size, the company said. At the end of the quarter, J.B. Hunt operated 2,381 tractors from 2,605 a year ago.
Intermodal operating income climbed 25% to $97.9 million on load volume. Revenue gained 15% to $794 million.
Its dedicated contract services unit’s operating income fell 14% to $25.6 million, while revenue rose 1% to $273 million.
Operating income for integrated capacity solutions rose 43% to $5.5 million and revenue rose 30% to $121 million.
J.B. Hunt is ranked No. 5 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
