J. B. Hunt Transport Services, Inc., (JBHT) Thursday reported an increase in profit for the first quarter, helped mainly by higher revenues. However, earnings failed to meet analysts' expectations.
Net income for the quarter increased to $73.35 million or $0.61 per share from $67.68 million or $0.57 per share in the comparable quarter last year.
On average, 28 analysts polled by Thomson Reuters expected the company to earn $0.64 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues totaled $1.29 billion, up from $1.17 billion last year. Analysts expected revenues of $1.29 billion.
In the Dedicated Contract Services segment, revenues improved 9 percent to $279 million from last year.
Revenues from the Integrated Capacity Solutions segment increased 26 percent to $122 million from last year, helped primarily by a 47 percent increase in load volume and higher pricing in our transactional business.
Truck or JBT revenues totaled $102 million, down 21 percent from last year. JBT revenues were hurt mainly by a reduction in fleet size and lower utilization per truck.
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