J.B. HUNT SEES THIRD-QUARTER EARNINGS CUT IN HALF
J. B. Hunt Transport Services Inc. said Monday its third-quarter net income fell 50.5 percent to $4.5 million, compared to $9.1 million in the first quarter of 2000.
Third quarter revenue was $537.2 million, up 5 per5cent from the year-earlier period. Truck segment grew 1 percent, while intermodal segment revenue rose 9 percent
The company says the weak economy has had a particularly severe impact on Dedicated Contract Services in the form of reduced freight volumes with key customers.
Additional rate increases will be necessary as rising costs continue to press upon the entire trucking industry in a number of areas, the Lowell, Ark.-based trucking company said.
For the first nine months of 2001, Net income was $14.8 million, down from $25.2 million for the year-earlier period. Operating revenues slipped 4 percent to $1.55 billion.
