J.B. Hunt Reports Record 1Q Earnings of $67.7M

J.B. Hunt Transport Services Inc. of Lowell on Thursday announced record first-quarter net earnings of $67.7 million, or diluted earnings per share of 57 cents, up 35 percent from first-quarter 2011 net earnings of $50 million, or 40 cents per diluted share.

The company said total operating revenue for the first quarter was $1.17 billion, compared with $1 billion for first-quarter 2011.

All four segments of the transportation company contributed to the rise in operating revenue.

• Intermodal saw loads rise 16 percent for a 20 percent in revenue for that segment.
• Integrated Capacity Solutions saw load growth of 14 percent, contributing to a 30 percent rise in revenue for ICS.
• Dedicated Contract Services increased operating revenue by 7 percent.
• The truck segment raised operating revenue by 8 percent.

Operating income for first-quarter 2012 totaled $117 million compared with $90 million for the year-earlier period.

"We are driven to provide relevant transportation services that meet the evolving needs of our customers’ supply chain management challenges," John N. Roberts, president and CEO of J.B. Hunt, said in a company news release.

Roberts was recently profiled in an Arkansas Business special report on public company CEOs in Arkansas.

"Changes in packaging, fuel costs, inventory levels, replenishment and end consumer point of purchase behaviors, among others, have had an effect on how our customers manage logistics," Roberts said. "We continue to operate under our long stated strategy of directing investments towards solutions that customers need and are willing to pay for with reasonable rates and structured contract terms.

"The results of the first quarter provide ongoing confirmation for this disciplined and balanced strategy."