J.B. Hunt Transport Services Inc. reported Tuesday third-quarter net earnings of $89.5 million, up about 14 percent from its $78.2 million profit in third-quarter 2012.
In a statement before the stock markets opened Tuesday, the Lowell-based trucker said diluted earnings per share came to 75 cents, which was an improvement from the year-ago period's 65 cents per share but which missed analysts' average estimate of 78 cents a share. The company has reported earnings per share that were lower than analysts’ estimates during four of the past five quarters.
In the second quarter, J.B. Hunt said it booked profits of $87.7 million, or 73 cents per share, up from $80.5 million, or 67 cents per share, for the second quarter of 2012. That narrowly missed analysts’ average estimate of 74 cents a share.
Third-quarter revenue was $1.44 billion, up about 11 percent from $1.3 billion in the third quarter of 2012. Overall operating income for the quarter was $151 million, compared with $133 million for the same period last year. The firm said in the increase from load growth, higher intermodal-unit box turns and freight mix was partly offset by several factors, including higher driver-recruiting costs, higher rates paid to third-party carriers, and higher driver-mileage pay and equipment costs.
Read tomorrow's Arkansas Democrat-Gazette for full details.