J.B. Hunt Transport Services has reported fourth-quarter earnings per share of $1.44, ahead of the $1.30 consensus estimate. As well as the year-ago result of $1.35.
J.B. Hunt 50 Percent Growth
Year-over-year the revenue increased 12% to $2.74 billion. This up to 18% excluding fuel surcharges. There is more than 50% growth in its brokerage and truck divisions as the reasons for the increase, according to a press release cited. Benefiting from the capacity available through digital freight platform Marketplace for J.B. Hunt 360 from both segments were notes.
Up from more than 60% year-over-year, freight transactions facilitates through 360 increase to $468 million in the quarter.
However, there is a higher revenue per load and a modest uptick in gross margins. In fact, the brokerage segment has returned to profitability on increased volumes.
However, there is 1.4% year-over-year for intermodal revenue to $1.25 billion as loads have increased slightly. Therefore, the revenue per load has dropped a bit more than 2%.
However, there is a final-mile revenue which was up 30%. Moreover, this is primarily associated with past acquisitions. In fact, the dedicated segment grew revenue by 3%.
Operating Income Goes up
Moreover, the year-over-year operating income went up 1.3% at $208 million. There is an additional revenue was primarily offset by rail and third-party transportation cost increases. This includes higher driver wages.
On Tuesday, the company hosted a call at 5 p.m. The purpose was to discuss the results with analysts.
J.B. Hunt Transport Services, Inc. History
An American transportation and logistics company based in Lowell, Arkansas is J.B. Hunt Transport Services, Inc. J.B. Hunt was founded by Johnnie Bryan Hunt and Johnelle Hunt in Arkansas on August 10, 1961. J.B. Hunt has grown into the 80th largest trucking firm in the U.S. in 1983. They earned $623.47 million in revenue. J.B. Hunt was operating 550 tractors, 1,049 trailers, and has approximately 1,050 employees at that time. Primarily operating large semi-trailer trucks and provides transportation services throughout the continental U.S., Canada, and Mexico is what J.B. Hunt does as a company. This entity presently employs over 24,000 and operates more than 12,000 trucks.