Record Earnings for J.B. Hunt

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J.B. Hunt Transport Services, Lowell, Ark., announced record first quarter 2011 net earnings of $50.1 million, compared to first quarter 2010 net earnings of $37.5 million. Total operating revenue for the current quarter was $1 billion, compared with $845 million for the first quarter 2010.

All four segments contributed to this increase in operating revenue. Load growth of 15% in Intermodal helped drive a 23% increase in segment revenue. The company's Integrated Capacity Solutions and Dedicated Contract Services segments increased operating revenue by 22% and 15%, respectively, while Truck segment revenue rose 6%. Current quarter total operating revenue, excluding fuel surcharges, increased 13% vs. the comparable quarter 2010.

Operating income for the current quarter totaled $90 million vs. $67 million for the first quarter 2010. All four segments contributed to this increase in operating income, with Intermodal accounting for more than $15 million of the increase and Truck more than $5 million, while ICS and DCS combined to add approximately $2 million. Insurance and claims costs were lower during the current quarter vs. 2010, partly due to reduced accident severity.

"Our blend of complementary and diversified services resulted in a 34% increase in earnings over the same period last year and a record high for any first quarter," said John N. Roberts, JBHT President and CEO. "With the effects of winter weather and rapidly rising fuel costs, it was a tough quarter to get through as well as we did.... I am very proud of the entire team."

Record Earnings for J.B. Hunt - Truckinginfo.com
 
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