J.B. Hunt Transport Services reported second-quarter earnings of $1.91 per diluted share on revenue of $3.5 billion, topping Wall Street expectations and sending the company’s stock higher in after-hours trading. The results compared to earnings of $1.31 per share and revenue of $2.93 billion in the same period a year earlier. Analysts had expected earnings of $1.74 per share and revenue of $3.25 billion, according to Bloomberg.
Shares of J.B. Hunt climbed as high as 9.5% in after-hours trading Wednesday following the results.
Operating income rose 32% to $259.5 million from $197.3 million a year earlier, the company said. The improvement was driven by higher revenue, productivity gains, and continued efforts to reduce costs, partially offset by higher purchased transportation expenses.
Intermodal was the clear highlight of the quarter, generating $1.75 billion in revenue — a 22% year-over-year increase — while operating income jumped 58% to $150.9 million. The segment’s volume grew 10%, with the company attributing the gain to rising fuel costs and constrained trucking supply that pushed customers toward rail-connected freight options. Transcontinental network loads rose 5% while Eastern network loads grew 16%.
Dedicated Contract Services revenue increased 9% to $921 million, with operating income up 9% to $102.5 million. The Integrated Capacity Solutions segment posted revenue of $388 million, up 49%, swinging to an operating profit of $1.7 million from a loss of $3.6 million a year earlier. The Truckload segment posted a $1.3 million operating loss despite a 35% increase in revenue to $240 million, as higher purchased transportation costs outweighed gains. Final Mile Services revenue fell 6% to $198 million, with operating income declining 30% to $5.6 million, due to known business losses tied to efforts to improve revenue quality.
“Our second quarter results reflect the strength of executing our strategy, as we leveraged our investments in our people, technology, and capacity to drive growth…
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