JB Hunt posts US $ 105 million in earnings in 1Q20

JB Hunt Transport Services, Inc. posted net earnings of $ 104.8 million in the first quarter of 2020.

Its JBI segment transportation service offerings utilize agreements with most of the major rail companies in North America to provide intermodal transportation solutions to their clients in the United States, Canada and Mexico.

JBI operates 96,743 pieces of company-owned towed equipment across the system. The fleet is primarily comprised of 53-foot tall bucket containers and is designed to take advantage of dual-stack intermodal economy and superior ride quality.

Fonancial results

JB Hunt’s total operating income for the quarter was $ 2.28 billion compared to $ 2.09 billion for the first quarter of 2019.

At the same time, total operating income for the quarter, excluding fuel surcharges, increased 10% compared to the first quarter of 2019.

JB Hunt, other indicators

A 7% increase in cargo volume at Intermodal (JBI), partially offset by a 1% decrease in cargo revenue, contributed to a 6% increase in segment revenue compared to the prior year period .

Revenue from the dedicated contract services segment (DCS) advanced 10% year-on-year, primarily due to additional customer contracts and increased fleet utilization.

The Final Mile Services (FMS) segment increased revenues 39% over the previous year, especially due to the acquisitions of February 2019 and December 2019.

Lastly, revenues from the Integrated Capacity Solutions (ICS) segment increased 12%, primarily from a 2% increase in cargo growth and a favorable change in customer cargo mix. And JBT segment revenue was up 3%, primarily from a 15% increase in cargo growth, offset by lower rates and changes in the customer mix.