J.B. Hunt Transport Services reported its net income in the first quarter of 2013 was $73.3 million, rising 8 percent compared with $67.7 million in the first quarter of 2012.
Total quarterly revenue for the No. 3 U.S. trucking carrier and top truckload carrier, according to JOC’s 2012 Top 50 Trucking Companies list, was $1.29 billion, up 10 percent from $1.17 billion in the same quarter in the previous year.
Load growth of 13 percent in intermodal and 47 percent in integrated capacity solutions helped drive 15 percent and 25 percent increases in segment revenue, respectively. The dedicated contract services segment increased revenue by 9 percent, primarily from new long-term contracts currently being implemented, while the truck segment revenue declined primarily from a 21 percent reduction in fleet size, the transportation company said in a written statement.
Operating income for the current quarter totaled $125 million, compared with $117 million in the first quarter of 2012. Combined, operating income for intermodal and integrated capacity solutions rose by about $18 million on higher load volume, improved freight mix and overhead cost controls.
The increase in operating income was partially offset by higher equipment costs in the asset-based business units, higher claims costs from two old claims shared by all business units, contract implementation costs related to new customers for dedicated contract services and higher employee costs with lower asset utilization for intermodal, the company said.