J. B. Hunt Transport Services Inc. (JBHT: Quote) Thursday reported a sixteen percent increase in fourth-quarter profit, as improved load volumes across most segments lifted revenues.
The company's earnings topped Street estimates by a penny, with revenues also coming in ahead of expectations. The company's shares gained over 3.6 percent in morning trade on the Nasdaq.
During the quarter, the company's Intermodal segment benefited from a 13 percent rise in revenues amid a 11 percent load growth. Dedicated Contract Services segment revenue increased 9 percent, on the addition of new accounts.
Integrated Capacity Solutions segment revenue increased 30 percent, on a 47 percent jump in load volume. Truck segment revenue meanwhile slid 12 percent, due to a 19 percent drop in fleet size.
Overall, J.B. Hunt reported fourth-quarter operating revenues of $1.34 billion, compared with $1.2 billion a year ago. Analysts on consensus estimated revenues of $1.33 billion for the quarter.
Excluding fuel surcharges, operating revenues for the quarter grew 10 percent from last year.
J. B. Hunt reported fourth-quarter net income of $84 million or $0.70 per share, compared with $72.6 million or $0.61 per share last year.
Analysts on consensus estimated earnings of $0.69 per share for the quarter. Analysts' estimates typically exclude special items.
J.B. Hunt is trading at $65.76, up 3.62%.
by RTT Staff Writer
For comments and feedback: email@example.com