The first quarter earnings reporting season has kicked off in trucking on a high note with J. B. Hunt Transport Services, announcing net earnings of $73.3 million compared to $67.7 million the same time a year ago.
Total operating revenue for the quarter was $1.29 billion, compared with $1.17 billion for the first quarter of 2012.
It says load growth of 13% in intermodal operation and 47% in its Integrated Capacity Solutions brokerage division helped drive 15% and 26% increases in segment revenue, respectively. Dedicated Contract Services segment increased operating revenue by 9%, primarily from new long‐ term contracts currently being implemented, while truck segment revenue declined primarily from a 21% reduction in fleet size.
Truck segment revenue fell 21% to $102 million, down 21% while operating income plunged 78% to $1.1 million.
Intermodal first quarter revenue was $796 million, up 15%, while operating income increased 22% to $ 96.8 million.
The company’s Integrated Capacity Solutions division reported revenue of $122 million, up 26%. Operating Income was $5.2 million, up 27%.
Dedicated Contract Service revenue totaled $279 million, up 9%, while operating income was $21.9 million, down 22%.
More details are available from the J.B. Hunt website.