J.B. Hunt Sets New Record for Revenue, Profit

J.B. Hunt Transport Services Inc. said Thursday that all four of its segments contributed to a 35.1 percent increase in the company’s first-quarter profit.

Shortly after the stock markets closed, the Lowell-based carrier reported earnings of $67.68 million, or 57 cents per share, for the quarter that ended March 31, compared to last year’s record earnings of $50.1 million, or 40 cents per share.

Revenue rose 17 percent to $1.17 billion from $1 billion in the quarter.

The company beat the average earnings estimate of 52 cents per share from 26 analysts surveyed by Thomson Reuters.

John Roberts, J.B. Hunt’s president and CEO, said in a news release the company will continue to provide “relevant” transportation services to meet its customers’ supply-chain challenges.

“Changes in packaging, fuel costs, inventory levels, replenishment and end consumer point of purchase behaviors, among others, have had an effect on how our customers manage logistics,” he said. “We continue to operate under our long-stated strategy of directing investments toward solutions that customers need and are willing to pay for with reasonable rates and structured contract terms.”

Revenue rose 30 percent for the company’s Integrated Capacity Solutions segment; 20 percent for intermodal; 8 percent for truck; and 7 percent for dedicated contract services.

J.B. Hunt’s shares rose $1.43, or 2.62 percent, on Thursday to close at $55.93 on the Nasdaq. Shares have traded between $34.42 and $56.09 in the past year.

Company shareholders will hold their annual meeting April 26 at its corporate office in Lowell.