JB Hunt 1Q Net Income Up 9 Percent

J.B. Hunt Transport Services Inc. of Lowell on Monday reported first-quarter earnings of $100.1 million, up from $91.9 million from the same quarter of 2015.

The company (Nasdaq: JBHT) said diluted earnings per share was 88 cents, up from 78 cents in the same quarter a year ago. J.B. Hunt reported revenue of $1.5 billion, up from $1.4 billion in the same quarter last year.

Results per segment:

Intermodal: revenue was up 6 percent to $895 million, while operating income dropped 1 percent to $103.1 million. The company said load volumes increased 12 percent from the same quarter of 2015 with a 5 percent decrease in revenue per load. Excluding fuel surcharges, J.B. Hunt said revenue per load increased 2 percent in the quarter.

Dedicated Contract Services: revenue was up 4 percent to $358 million, while operating income increased 25 percent to $44.8 million. J.B. Hunt said productivity increased thanks to a milder winter and fewer unseated trucks with less reliance on third-party carriers.

Integrated Capacity Solutions: revenue was up 12 percent to $183 million, while operating income was up 63 percent to $10.8 million. The company said shipment volumes increased 45 percent but revenue per load was down 23 percent because of fuel prices.

Truck: revenue was up 5 percent to $96 million, while operating income was up 8 percent to $9.2 million. Excluding fuel surcharges, revenue was up 12 percent, the company said. J.B. Hunt said it increased its truck count from 2,020 to 2,270.

J.B. Hunt purchased 1.3 million shares of common stock for approximately $100 million in the first quarter. The company said it had $351 million remaining in its share repurchase authorization with 112.7 million shares outstanding.