Freight transportation provider J.B. Hunt Transport Services on July 16 announced second quarter 2018 net earnings of $151.7 million. That’s up more than 50% from the same time a year ago, when it reported net earnings of $97.9 million, and beats analysts’ expectations.
Earnings per share in the most recent quarter were $1.37 compared to 88 cents in the second quarter of 2017.
Total operating revenue for the second quarter of 2018 was $2.14 billion, compared with $1.73 billion for the second quarter 2017, an increase of 24%. Total operating revenue, excluding fuel surcharges, increased 21% vs. a year earlier.
An increase in revenue per load of 12% and load growth of 4% in the company’s intermodal segment and a 17% increase in revenue-producing trucks and a 10% increase in truck productivity in its dedicated operation helped push revenue higher, according to the company.
A 38% increase in volume and a 13% increase in revenue per load in its logistics and brokerage segment plus a 14% increase in rates per loaded mile in the company’s trucking business contributed to the increase in consolidated revenue compared to the prior year.
Operating income for the most recent quarter totaled $214.8 million vs. $163.6 million for the second quarter of 2017.
The effective income tax rate for the quarter was 26% vs. 37.4% for the second quarter 2017.