J.B. Hunt Transport Services reported record income for its first quarter, as its trucking, intermodal and dedicated contract services segments all improved.
Net income rose to $50.1 million, or 40 cents a share, from $37.5 million, or 29 cents a share. Revenue jumped to $1 billion, from $845 million, the company said late Wednesday.
The 34% increase in earnings lifted its income to a first-quarter record for the company, CEO John Roberts said in a statement.
Truck segment operating income jumped to $5.8 million, from $600,000 a year ago. Revenue rose 6% to $119 million.
Intermodal operating income rose 32% to $62.6 million, while revenue rose 23% to $577 million.
Dedicated contract services operating income rose 1% to $18.6 million for the quarter, while revenue rose 15% to $238 million.
The carrier also cited higher pricing across its segments, including a 9% increase in trucking rate per loaded mile, excluding fuel surcharges.
J.B. Hunt is ranked No. 8 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
Â© 2010, Transport Topics Publishing Group. All rights reserved.
J.B. Hunt Reports Record 1Q Income (4/14/2011 1:00:00 PM)
Rising Freight Volumes, Rates to Buoy First-Quarter Earnings (4/11/2011 6:00:00 AM)
ATA Endorses Electronic Logs to Check Driver Hours of Service (4/11/2011 3:45:00 AM)
CalArk CEO Gorman Wins Women in Trucking Award (3/16/2011 10:00:00 AM)
Intermodal Fleets Say Safety Ratings Hurt by CSA Violations of Discharged Drivers (2/28/2011 1:45:00 AM)
U.S. Seeks EOBR Mandate (2/7/2011 8:00:00 AM)
OTHER NEWS BRIEFS