J.B. Hunt Transport Services Inc. of Lowell (Nasdaq: JBHT) on Thursday reported net income of $181.1 million, up 16.5% from $155.5 million in the same quarter a year ago.
Earnings per share came to $1.90.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.
The trucking and logistics company posted revenue of $3.1 billion, down 1.6% from $3.15 billion a year ago. The sum did not meet Street forecasts. Seven analysts surveyed by Zacks expected $3.13 billion.
For the fiscal year, J.B. Hunt reported revenue of $11.99 billion, down less than 1% from $12.1 billion, and income of $598.3 million, up 4.8% from $570.9 million. Earnings per share came to $6.12, up from $5.56.
“Our team finished the year with another quarter of strong execution and financial results,” J.B. Hunt CEO Shelley Simpson said. “We have momentum with our operational excellence that is setting us apart with customers. We achieved a record year in safety for the third consecutive year and remain focused on improving our financial performance to drive long-term value for our company and our shareholders.”
Shares of the company ticked up less than 1% Thursday, closing at $206.52. The stock fell more than 4% in after-hours trading.
Results by segment are below.
Intermodal
Quarterly revenue was $1.5 billion, down from $1.59 billion. Operating income was $135.5 million, up from $115.9 million. For the year, revenue was $5.98 billion, up from $5.96 billion.
Dedicated Contract Services
Quarterly revenue was $842.9 million, up from $838.5 million, while operating income was $98.4 million, up from $90.3 million. For the year, revenue was $3.38 billion, down from $3.39 billion, and operating income was $376.6 million, up from $375.9 million.
Integrated Capacity Solutions
Quarterly revenue was $304.6 million, down from $307.6 million, while operating income was a loss of $3.3 million, an improvement from a loss of $21.8 million. For the year, revenue was $1.1 billion, down from $1.14 billion, and operating income was a loss of $10.3 million, up from a loss of $55.9 million.
Final Mile Services
Quarterly revenue was $205.8 million, down from $227.5 million, while operating income was $7.5 million, down from $13.2 million, For the year, revenue was $823.6 million, down from $910.4 million, while operating income was $27.1 million, down from $60.1 million.
Truckload
Quarterly revenue was $200.3 million, up from $181.95 million, while operating income was $8.4 million, down from $8.55 million. For the year, revenue was $733.6 million, up from $701.6 million, and operating income was $21.3 million, down from $21.5 million.
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