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J.B. Hunt earnings above expectations

by Associated Press | October 15, 2021 at 8:31 a.m.
A view of the break area inside the new expansion Thursday, July 6, 2017, at the J.B. Hunt Transport headquarters in Lowell. (NWA Democrat-Gazette/BEN GOFF)

LOWELL -- J.B. Hunt Transport Services announced third quarter 2021 net earnings Friday of $199.8 million, or diluted earnings per share of $1.88 versus third quarter 2020 net earnings of $125.5 million, or $1.18 cents per diluted share.

Total operating revenue for the current quarter was $3.14 billion, an increase of 27% compared with $2.47 billion for the third quarter 2020. All segments contributed double-digit revenue growth versus the prior year period.

Truckload and Integrated Capacity Solutions grew revenue 87% and 55% year-over-year, respectively, as both segments were able to source and secure capacity for customers in the Marketplace for J.B. Hunt 360 in this capacity-constrained freight environment.

Intermodal revenue grew 17%, driven by a 24% increase in revenue per load, partially offset by a 6% decline in volume.

Dedicated Contract Services revenue grew 20% as a result of a 12% increase in average revenue producing trucks and a 7% increase in fleet productivity versus the prior year period.

Final Mile Services revenue increased 13% as revenue per stop increased 17%, partially offset by 3% fewer stops. Current quarter total operating revenue, excluding fuel surcharges, increased 23% versus the comparable quarter 2020.

Operating income for the current quarter totaled $273.8 million versus $175.5 million for the third quarter 2020.

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