JB Hunt 4Q Earnings Up 63% But Miss Expectations

We were unable to send the article.

J.B. Hunt Transport Services Inc. of Lowell on Friday reported fourth-quarter net income of $144.7 million, up 63% from $88.7 million in the same quarter last year.

The publicly traded logistics company (Nasdaq: JBHT) reported net income of $1.35 per share, up from 81 cents per share in the same quarter last year.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.

Revenue was $2.45 billion in the period, which matched analysts’ forecasts and was up about 6% from $2.32 billion in the same quarter last year.

For the year, the company reported profit of $516.3 million, or $4.75 per share. Revenue was reported as $9.17 billion.

The company’s results by segment are:

Intermodal — Quarterly revenue was $1.27 billion, up slightly from $1.26 billion. For the fiscal year, revenue was $4.74 billion, up from $4.71 billion. The company reported operating income of $131 million for the quarter, up from $32.4 million, but the 2018 figure was revised after a $134 million liability related to its arbitration case with BNSF Railway Co. Otherwise, the company reported that operating income for the quarter for all of its segments dropped 20% compared to a year ago.

Dedicated Contract Services — Quarterly revenue was $716.9 million, up from $595.8 million. For the year, revenue was $2.7 billion, up from $2.2 billion. The company said production increased thanks to a $100 million acquisition of Cory 1st Choice Home Delivery in February 2019 and the addition of 972 new trucks to its fleet.

Integrated Capacity Solutions — Quarterly revenue was $376.5 million, up from $345.4 million. Annual revenue was $1.35 billion, up from $1.33 billion. The company reported that of its quarterly revenue, $225 million was through its Marketplace for J.B. Hunt 360°, up from $174 million the year before. Operating income for the quarter was a loss of $11.8 million, compared to $16.1 million in the same quarter of 2018.

Truck — Quarterly revenue was $93.6 million, down from $117.7 million in the same quarter of 2018. Annual revenue was $389.3 million, down from $417.3 million. The company said rates per loads dropped as did the overall number of loads delivered.

(The Associated Press contributed to this report.)