The intermodal segment, which brought in the majority of J.B. Hunt’s operating revenues for the quarter, saw revenues rise 5 percent year-over-year, reflecting 2 percent volumes growth and a 3 percent boost in revenue per load.
J.B. Hunt posted net earnings of $102.7 billion for the first quarter of 2017, increasing three percent from the same period in 2016.
The Lowell, Ark.-based intermodal and trucking provider’s earnings per share for the quarter, which surpassed analyst expectations, totaled $0.92 cents per share.
Operating revenues rose 7 percent year-over-year during the quarter to $1.63 billion.
However, operating income fell 11 percent from the first quarter of 2016 to $149 million. “Benefits from volume growth and new customer contracts were more than offset by lower customer rates from competitive pricing, increased purchased transportation costs, higher driver wages, continuing branch network expansion, increased equipment ownership costs and increased insurance and claims costs,” J.B. Hunt said.
The majority of J.B. Hunt’s revenues came from its intermodal segment, which recorded revenues of $937 million for the quarter, up 5 percent year-over-year, reflecting 2 percent volumes growth and a 3 percent increase in revenue per load.
J.B. Hunt’s dedicated contract services segment posted revenues of $392 million for the quarter, a 10 percent increase from the first quarter of 2016, primarily driven by additional customer contracts from a year ago and customer rate increases.
Meanwhile, the integrated capacity solutions segment’s revenues totaled $209 million for the quarter, a 14 percent year-over-year increase. Although the segment’s volumes surged 36 percent, revenue per load tumbled 16 percent.
On the flip side, J.B. Hunt’s truck segment posted a decline in revenues, which fell 2 percent year-over-year to $94 million, primarily driven down by a lower revenue per load.
J.B. hunt ups earnings, revenues in Q1
