J. B. Hunt Transport Services Revenue and Income Up in 2nd Quarter
J. B. Hunt Transport Services, Inc., (NASDAQ:JBHT) has announced that second quarter 2014 net earnings of $93.4 million, or diluted earnings per share of 79 cents vs. second quarter 2013 net earnings of $87.7 million, or 73 cents per diluted share.
Total operating revenue for the current quarter was $1.55 billion, compared with $1.38 billion for the second quarter 2013.
Load growth of 8% in Intermodal (JBI) and 15% in Integrated Capacity Solutions (ICS), helped drive 9% and 31% increases in segment revenue, respectively.
Dedicated Contract Services (DCS) segment revenue increased by 15% as productivity improved on large private fleet conversions implemented a year ago.
Truck (JBT) segment revenue was flat with prior year with an 8% smaller fleet. Current quarter total operating revenue, excluding fuel surcharges, increased 13% vs. the comparable quarter 2013. Operating income for the current quarter totaled $159 million vs. $147 million for the second quarter 2013.
The increase in operating income derived from load growth, customer rate increases and freight mix changes was partially offset by lower box turns from slower train velocities, higher driver recruiting and retention costs, higher purchased transportation costs, higher safety and insurance costs and increases in equipment and tire costs compared to second quarter 2013.
Category: General Update
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