J.B. Hunt 2nd Quarter Revenue and Income Up

J.B. Hunt Transport Services (NASDAQ:JBHT) announced second quarter 2016 net earnings of $105 million, or diluted earnings per share of 92 cents vs. second quarter 2015 net earnings of $103 million, or 88 cents per diluted share.

Total operating revenue for the current quarter was $1.62 billion, compared with $1.54 billion for the second quarter 2015, an increase of 5%. Current quarter total operating revenue, excluding fuel surcharges, increased 9% vs. the comparable quarter 2015. Load growth of 9% in Intermodal (JBI) and 62% in Integrated Capacity Solutions (ICS), a 5% increase in revenue producing trucks in Dedicated Contract Services (DCS) and an 11% increase in average fleet count in our Truck (JBT) business segment, contributed to the increase in consolidated revenue compared to prior year.

Operating income for the current quarter totaled $176 million versus $174 million for the second quarter 2015. According to the company, “The benefits of volume growth, increases in revenue producing truck counts and higher equipment utilization, were substantially offset by increases in rail purchased transportation costs, higher driver wages and recruiting costs and increased equipment ownership costs.”

In the second quarter of 2015, Hunt recorded a charge of approximately $14.1 million for corporate wide streamlining and technology redevelopment costs.

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