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Rail News: Financials

3Q financials: J.B. Hunt posts 46.5 percent net earnings increase


Railroads aren’t the only transportation service providers posting volume and revenue increases these days. Today, J. B. Hunt Transport Services Inc. announced record third-quarter net earnings of $47.9 million, a 46.5 percent increase compared with third-quarter 2003’s $32.7 million.

Total operating revenue was $719 million, a 15.6 percent hike compared with $622 million during the same 2003 period. Excluding fuel surcharges, truck-segment revenue increased 8 percent; intermodal segment revenue, 14 percent. Volume growth (7.4 percent), higher revenue per loaded mile (4.6 percent) and lane mix changes helped drive the intermodal revenue increase.

"The achievement of these results occurred despite historically high fuel prices that continued to rise during the quarter, a tight driver market that prompted driver pay increases … and a couple of bankruptcy proceedings by our customers," said President and Chief Executive Officer Kirk Thompson in a prepared statement.

Contact Progressive Railroading editorial staff.

More News from 10/15/2004