J.B. Hunt Posts Higher Profits In Q1
by April 11, 2013 4:15 pm 96 views
J. B. Hunt Transport Services, Inc. reported first quarter net income of $73.3 million, up from $67.7 million on year ago.
The Lowell-based trucking and transportation giant reported higher quarterly operating revenue of $1.29 billion, compared with $1.17 billion for the first quarter of 2012.
Among the division sectors within the company, J.B. Hunt reported:
- Load growth of 13% in Intermodal (JBI) which led to 15% division revenue growth;
- Load growth of 47% in Integrated Capacity Solutions (ICS) which led to 26% division revenue growth;
- Dedicated Contract Services (DCS) segment increased operating revenue by 9%; and
- Truck segment revenue declined 21% from a reduction in fleet size.
The company also lowered its debt. As of March 31, 2013, J.B. Hunt had a total of $593 million outstanding on various debt instruments compared to $702 million on March 31, 2012, and $685 million on December 31, 2012.