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On Thursday, J.B. Hunt Transport Services Inc. of Lowell reported lower second-quarter revenue and income compared to a year ago.
The company generated $2.15 billion in revenue, down from $2.26 billion in 2019. Income was $121.7 million, down from $133.6 million in the same quarter a year ago.
Earnings per share was $1.14, down from $1.23.
For the first six months, the company reported revenue of $4.4 billion, up from the same time frame a year ago, but income was lower at $226.5 million, down from $253.2 million.
The company said higher transportation costs and investments in technology and expenses related to the COVID-19 pandemic impacted its revenue, but those were offset somewhat by lower driver turnover, fewer insurance claims and “significantly reduced” travel and entertainment expenses.
The company’s second-quarter results by segment are:
Revenue was $1.07 billion, down from $1.15 billion in the same quarter a year ago. Operating income was $107 million, down from $124.4 million. The company said the results were caused by a 2% drop in volume and a 6% drop in revenue per load.
Dedicated Contract Services
Revenue was $533.1 million, down from $537 million a year ago. Operating income was $83.1 million, up from $76.2 million in the same quarter a year ago. The company said revenue per truck per week dropped 3% but it employed 130 more trucks and had fewer expenses related to driver turnover, travel and entertainment.
Integrated Capacity Solutions
Revenue was $304.3 million, down from $334.3 million a year ago. Operating income was a loss of $13.1 million, worse than the loss of $570,000 a year ago. The company said $229 million in revenue was generated through its 360 Marketplace, compared to $222 million a year ago.
Final Miles Services
Revenue was $139.5 million, down from $142.9 million a year ago. Operating income was a $5.3 million loss, an improvement from the loss of $15.8 million a year ago. The company reported 5% fewer deliveries resulting from clients closing facilities temporarily because of the pandemic.
Revenue was $108.3 million, up from $99.6 million a year ago. Operating income was $3.5 million, a decrease from $8.9 million a year ago. The company said the number of loads increased 17% but revenue per load decreased 4% compared to a year ago.