Press release
J.B. Hunt Transport Services, Inc. Reports Revenues and Earnings for the First Quarter 2020
First Quarter 2020 Revenue: $2.28 billion; up 9% First Quarter 2020 Operating Income: $155 million; down 8% First Quarter 2020 EPS: $0.98 vs. $1.09 LOWELL,
About this update from J.b. Hunt Transport Services, Inc.
[{"type":"text","content":"\n\nFirst Quarter 2020 Revenue: $2.28 billion; up 9%\n\n\nFirst Quarter 2020 Operating Income: $155 million; down 8%\n\n\nFirst Quarter 2020 EPS: $0.98 vs. $1.09 \n\n\n\n \n\n LOWELL, Ark.--(BUSINESS WIRE)--\nJ.B. Hunt Transport Services, Inc., (NASDAQ:JBHT) announced first quarter 2020 net earnings of $104.8 million, or diluted earnings per share of $0.98 vs. first quarter 2019 net earnings of $119.6 million, or $1.09 per diluted share.\n\n\nTotal operating revenue for the current quarter was $2.28 billion compared with $2.09 billion for the first quarter 2019. Current quarter total operating revenue, excluding fuel surcharges, increased 10% vs. first quarter 2019. A 7% increase in load volume in Intermodal (JBI), partially offset by a 1% decrease in revenue per load, contributed to a 6% increase in segment revenue versus the prior year period. Dedicated Contract Services (DCS) segment revenue increased by 10% over the prior year primarily from additional customer contracts and higher fleet utilization. The newly reported Final Mile Services (FMS) segment increased revenue 39% over the prior year, primarily from the February 2019 and December 2019 acquisitions. Integrated Capacity Solutions (ICS) segment revenue increased 12% primarily from a 2% increase in load growth and a favorable change in customer freight mix. Truck (JBT) segment revenue increased 3% primarily from a 15% increase in load growth, offset by lower rates and changes in customer mix.\n\n\nTotal freight transactions in the Marketplace for J.B Hunt 360° increased to $294 million in the first quarter 2020 compared to $199 million in the prior year quarter. ICS revenue on the platform increased to $235 million with an approximate 44% increase in volume versus the year ago period. JBI and JBT executed approximately $34 million and $25 million, respectively, of their third-party dray and independent contractor costs through the platform during the quarter.\n\n\nOperating income for the current quarter totaled $154.7 million versus $167.8 million for the first quarter 2019. First quarter 2020 operating income included a $12.3 million charge for a one-time bonus to employee drivers and certain personnel at field operations and customer facilities supporting the drivers who have kept the country’s freight moving during the COVID-19 pandemic, an $8.2 million pre-tax acc...