Intermodal trucking giant J.B. Hunt Transport Services reported an $80.5 million second quarter net profit as revenue increased 9 percent to $1.26 billion.
That 22.5 percent increase in net profit followed a 35 percent increase in profit in the first quarter, when Hunt revenue rose 17 percent to $1.17 billion.
The Lowell, Ark.-based company reported $4.5 billion in total revenue in 2011.
Intermodal shipments increased 13 percent year-over-year, while Hunt’s non-asset Integrated Capacity Solutions division increased shipments 16 percent.
The intermodal division accounted for about 58 percent of J.B. Hunt’s revenue, $762 million. Intermodal operating profit increased 22 percent to $93.4 million.
Dedicated Contract Services revenue rose only 1 percent, to $267 million, while operating profit, boosted by lower fuel costs, rose 21 percent to $33.2 million.
J.B. Hunt Truck revenue dropped 3 percent to $126 million, but a 3.2 percent increase in truckload rates per mile boosted profit 27 percent to $8.8 million.
Integrated Capacity Solutions increased revenue 23 percent to $109 million on higher load volume, especially contractual volume growth, the carrier said.
But the brokerage unit’s operating profit dropped 25 percent to $2 million as higher purchased transportation costs narrowed its gross profit margin to 10.6 percent.