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J.B. Hunt Goes Final Mile Into Financial ReportsLock Icon

1 min read

J.B. Hunt Transport Services Inc. of Lowell has invested more than $250 million in final-mile services acquisitions during the last three years, and now the company has told the Securities & Exchange Commission that it will treat Final Miles Services as a fifth reporting segment. FMS had been part of Dedicated Contract Services.

The breakout will let folks see more of the division’s financials. In its filing, J.B. Hunt reported that FMS generated $566 million in revenue in fiscal 2019 and lost $8.8 million in operating income (after paying $20 million to settle an unspecified final-mile casualty claim in the second quarter of 2019).

FMS division had 1,300 trucks at the end of the year — not counting third-party contract vendors — and made more than 3.9 million stops. J.B. Hunt paid $136 million for Special Logistics Dedicated LLC in 2017, $100 million for Cory 1st Choice Home Delivery and $17.5 million for RDI Last Mile Co., both in 2019.

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