J.B. Hunt 2Q Revenue, Income Lower

We were unable to send the article.

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:

Intermodal

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.

Truckload

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.