J. B. Hunt Doubles Earnings in 1st Quarter
J. B. Hunt Transport Services Inc. announced first quarter 2003 net earnings of $11.2 million, or 28 cents per share, up from $4.9 million, or 13 cents per share for the same period last year.
J. B. Hunt Transport Services Inc. announced first quarter 2003 net earnings of $11.2 million, or 28 cents per share, up from $4.9 million, or 13 cents per share for the same period last year.
Total operating revenue for the current quarter was $571 million, compared with $510 million during the first quarter of 2002. Revenue was affected by an increase in fuel surcharge revenue of $21.5 million due to significantly higher fuel prices in the first quarter of 2003. Excluding this increase in fuel surcharge revenue, total revenue increased 8%.
During the first quarter of 2003, truck segment revenue, excluding fuel surcharges, increased 2%, while the intermodal segment revenue, excluding fuel surcharges, rose 12% last year. Dedicated segment (DCS) revenue, excluding fuel surcharge revenue, increased 9% during the current quarter.
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