J.B. Hunt Transport Services reported net earnings in the second quarter of 2013 were $87.70 million, improving 9 percent compared with $80.45 million in the second quarter of 2012.
Total operating revenue in the second quarter for the No. 3 U.S. trucking carrier and top truckload carrier, according to JOC’s 2012 Top 50 Trucking Companies list, was $1.38 billion, up 10 percent from $1.26 billion in the same quarter last year.
Load growth of 12 percent in the intermodal division and 29 percent in the integrated capacity solutions segment helped drive a 12 percent and 20 percent increase in segment revenue respectively. The dedicated contract services segment revenue increased by 13 percent year-over-year, as new, large private fleet conversions continue to be implemented. Conversely, truck division revenue decreased by 20 percent in the second quarter, fueled by a smaller fleet and lower utilization, the company said.
Operating income for the current quarter totaled $147.41 million, versus $137.22 million in the second quarter of 2012. The increase in operating income was mostly fueled by load growth, which was partially offset by $2.5 million of implementation expenditures in the dedicated contract services segment for two private fleet conversion contracts, a $2.4 million write-off of abandoned shared technology costs, a $1.5 million loss on the destruction of equipment involved in two train derailments, increases in equipment costs, fewer gains on revenue equipment sales and higher driver recruiting and wage costs.
Meanwhile, in the first six months of 2013, net earnings were $161.05 million, increasing from $148.14 million in the same period last year. Operating revenue from January to June improved from $2.42 billion in 2012 to $2.67 billion in 2013.