JB Hunt achieves growth across all four operating divisions

JB HUNT has posted a first quarter operating profit of US$90 million, an increase of 33 per cent year on year, 70 per cent of which (US$62.6 million) came from the US trucker's intermodal division.


First quarter revenue rose by 18 per cent year on year to $1 billion on the back of strong intermodal and trucking demand, reports Newark's Journal of Commerce. "Our blend of complementary and diversified services resulted in a 34 per cent increase in earnings," said company CEO John Roberts.


The report said that the company's sales declined slightly from the fourth quarter's $1.02 billion, despite severe winter storms causing disruptions to shipping in January and February.


Intermodal loads rose by 15 per cent in the first quarter, driving intermodal revenue up 23 per cent to $577 million.


The report said rail freight volumes were up as a result of expanding intermodal offerings in Mexico, and adding new lanes in the company's eastern intermodal network.


JB Hunt truck revenue grew six per cent to $119 million, while its operating income increased from $600,000 a year ago to $5.8 million in the first quarter.


Dedicated contract services registered 15 per cent higher revenue at $238 million and operating income was up one per cent to $18.6 million.


The integrated capacity solutions division increased revenue 22 per cent to $75 million in the first quarter, driven by an 11 per cent increase in load volume.


The report added that the improved earnings were also attributed to higher trucking rates across the company's four divisions, which were up nine per cent per loaded mile, excluding fuel surcharges.
(Source:http://www.schednet.com)