J.B. Hunt Posts Record Profits for 4Q
by January 24, 2013 11:30 am 60 views
Revenue growth, effective cost controls and a lower cost of borrowing helped J.B. Hunt Transport Services Inc.’s net earnings jump 16 percent in the fourth quarter, the company said Thursday.
The Lowell-based carrier reported profit of $83.98 million, or 70 cents per share, for the quarter that ended Dec. 31, compared to $72.57 million, or 61 cents per share, in the same period of 2011.
Revenue rose 11 percent to $1.34 billion.
The company beat the average earnings estimate of 69 cents per share from 28 analysts surveyed by Thomson Reuters.
All but one of the company’s four segments — intermodal, dedicated contract services, truck and integrated capacity solutions — experienced gains in revenue and operating income, a company news release stated. The truck segment was dampened by a fleet reduction, reduced utilization, increased driver and independent contractor pay, and lower profits on the sale of equipment.
For the year, J.B. Hunt posted net earnings of $310.35 million, or $2.59 per share, compared to $257 million, or $2.11 per share, in 2011.
Revenue rose 12 percent to $5.05 billion.
J.B. Hunt’s shares, which have hit record highs in recent weeks, were trading at $66.50 at mid-morning Thursday on the Nasdaq, up $3.04 or 4.79 percent. Shares have traded between $48.74 and $64.12 in the past year.