J.B. Hunt Transport Services Inc., Lowell, Ark., announced record annual net earnings of $180 million for 2004.

Diluted earnings per share for 2004 were $2.15, also a record. The previous record earnings were $95 million or $1.17 per diluted share reported for 2003.
Total operating revenue for the year was $2.8 billion, compared with $2.4 billion in 2003. Operating income rose 67% from $186 million in 2003 to $310 million in 2004 on the 14% rise in revenues. Earnings per share jumped 84% despite a 2% increase in average shares outstanding. The overall operating ratio for the company improved 350 basis points to 88.9% compared to 92.4% in 2003. The gain in profitability was most evident in the Truck segment operating ratio which improved 520 basis points to 88.9%, followed by Dedicated Contract Services (DCS) which improved 310 basis points to 90.2% and Intermodal which improved 210 basis points to 88.2%.
Fourth quarter 2004 net earnings were $53.4 million, or 64 cents per diluted share, compared with 2003 fourth quarter earnings of $26.5 million, or 32 cents per diluted share.
"Obviously we are pleased with 2004 financial results. Even after impressive improvement in profitability over the last 4 years, the very competent transportation professionals that make up the J.B. Hunt Transport team were able to out-do the previous year. Achieving an operating ratio of 88.9%, a full 350 basis point improvement over 2003, is a phenomenal feat and a tribute to the hard work and dedication of our employees," said Kirk Thompson, president and CEO.