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J.B. Hunt 4Q Income Up 1 Percent

2 min read

J.B. Hunt Transport Services Inc. of Lowell on Thursday reported fourth-quarter income of $117.5 million, up about 1 percent from $116.7 million in the same quarter a year ago. 

Revenue for the quarter was $1.72 billion, up from $1.62 billion, and earnings per share rose to $1.05 from $1.01. 

For fiscal year 2016, J.B. Hunt reported revenue of $6.6 billion, up from $6.2 billion in 2015. Income was $432 million, up from $427.2 million, and earnings per share was $3.81, up from $3.66.

Revenue rose in three of the company’s four segments in the fourth quarter: Intermodal rose from $967.1 million to $997.9 million; Dedicated Contract Services rose from $369 million to $398.3 million; and Integrated Capacity Solutions was up from $189.5 million to $231.6 million. 

Trucking revenue dropped to $96.3 million, down from $99.3 million in the same quarter a year ago.

Revenue was up in all four segments for the fiscal year. Intermodal rose from $3.6 billion to $3.8 billion; DCS was up to $1.5 billion from $1.4 billion; ICS rose from $699.5 million to $851.5 million; and trucking went from $385.5 million to $387.7 million.

In a news release, the company said operating income for the quarter was $194.4 million, up 1 percent from the same quarter a year ago. That was predominantly on the back of DCS, which saw a 52 percent increase in operating income in the quarter, while the other three segments all saw drops in operating income.

J.B. Hunt said the company saw a one-time benefit of $15.2 million thanks to a change in its time-off policy. Increased costs of rail transportation, driver wages and recruiting countered the increased revenue the company saw in the quarter and year.  

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