J.B. Hunt Revenue Up, Earning Down
J.B. Hunt Transport Services, Inc., announced third quarter 2017 net earnings of $100.4 million, or diluted earnings per share of 91 cents vs. third quarter 2016 net earnings of $109.4 million, or 97 cents per diluted share.
Highlights as follows:
- Third Quarter 2017 Revenue: $1.84 billion; up 9%
- Third Quarter 2017 Operating Income: $165 million; down 10%
- Third Quarter 2017 EPS: 91 cents vs. 97 cents
J.B. Hunt Transport Services total operating revenue for the current quarter was $1.84 billion, compared with $1.69 billion for the third quarter 2016. Load growth of 6% in Intermodal (JBI), a 14% increase in revenue producing trucks and improved asset productivity in Dedicated Contract Services (DCS)™ and a 17% increase in revenue per load in Integrated Capacity Solutions (ICS) contributed to the increase in consolidated revenue compared to prior year.
The operating revenue growth of J.B. Hunt Transport Services was partially offset by a 7% decrease in load count in the Truck (JBT) business segment and the disruption caused by hurricanes Harvey, Irma and Maria. Current quarter total operating revenue, excluding fuel surcharges, increased 8% vs. the comparable quarter 2016.
Operating income for the current quarter totaled $165 million vs. $183 million for the third quarter 2016. Operating income decreased from third quarter 2016 primarily from increases in driver wages and recruiting costs, increased rail purchase transportation rates, higher insurance and claims costs, increased legal and consulting costs, higher equipment maintenance costs and acquisition and integration costs incurred by DCS with the purchase of Special Logistics Dedicated (SLD) that closed during the quarter.
Category: General Update, News
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
