J.B Hunt Profit Hits Quarterly and Yearly Highs
January 23, 2014
Freight transportation services provider J.B. Hunt Transport services has reported hitting record financial numbers for the final quarter of last year as well for all of 2013.
Fourth quarter 2013 revenue was $1.47 billion, up 10% from the same time a year ago, while operating income was $153.5 million, up 7% during the same time and earnings per share were 77 cents compared to 70 cents, up 10%, for the Arkansas-based company.
For all of 2013 revenue totaled $5.6 billion; up 10% from 2012, while operating income was $576.7 million, up 9% during the same time and 2013 earnings per share were $2.87 compared to $2.59, up 11%
Both the final quarter of the year and all of 2013 saw records for net earnings, along with revenue and earnings per share.
Load growth of 13% in the company’s intermodal business helped drive an 11% increase in segment revenue and a 17% increase in operating income during the final quarter of the year compared to the same time in 2012.
Dedicated segment revenue increased by 17%, primarily from the addition of new customer accounts, but operating income added only 0.5% due to flat productivity.
Integrated Capacity Solutions, the company’s brokerage business, saw revenue increase by 13%, mostly from a higher load count and an increase in revenue per load. In contrast its operating income fell by 24%.
Truck segment revenue decreased 19%, primarily from an 11% reduction in fleet size compared to a year ago. Current quarter total operating revenue, excluding fuel surcharges, increased 13% compared to the same time a year earlier, however, when fuel surcharges are included, operating income showed a loss of $1 million, compared to positive operating income of $5 million a year ago.
More information is on the J.B. Hunt website.