Press release
J.B. Hunt Transport Services, Inc. Reports Revenues, Net Earnings and Earnings Per Share for Both the Fourth Quarter and Year Ended December 31, 2020
Fourth Quarter 2020 Revenue: $2.74 billion; up 12% Fourth Quarter 2020 Operating Income: $207.7 million; up 1% Fourth Quarter 2020 EPS: $1.44 vs. $1.35; up
About this update from J.b. Hunt Transport Services, Inc.
[{"type":"text","content":"\n\nFourth Quarter 2020 Revenue: $2.74 billion; up 12%\n\n\nFourth Quarter 2020 Operating Income: $207.7 million; up 1%\n\n\nFourth Quarter 2020 EPS: $1.44 vs. $1.35; up 7%\n\n\n\nFull Year 2020 Revenue: $9.64 billion; up 5%\n\n\nFull Year 2020 Operating Income: $713.1 million; down 3%\n\n\nFull Year 2020 EPS: $4.74 vs. $4.77; down 1%\n\n\n LOWELL, Ark.--(BUSINESS WIRE)--\nJ.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) announced fourth quarter 2020 net earnings of $154.0 million, or diluted earnings per share of $1.44 vs. fourth quarter 2019 net earnings of $144.7 million, or $1.35 per diluted share.\n\nTotal operating revenue for the current quarter was $2.74 billion, compared with $2.45 billion for the fourth quarter 2019. Revenue growth in the quarter was driven primarily by our Integrated Capacity Solutions (ICS) and Truck (JBT) segments, which grew 56% and 50% respectively, as both segments were able to leverage capacity in the Marketplace for J.B. Hunt 360°® for our customers during the quarter. Final Mile Services (FMS) revenue grew 30%, driven by the December 2019 acquisition and new contractual business onboarded throughout 2020. Dedicated (DCS) revenue grew 3%, primarily from a 9% increase in loads and a modest increase in the fleet. Revenue growth was partially offset by a 1% decline in revenue in Intermodal (JBI), and a 34% decline in fuel surcharge revenue. Current quarter total operating revenue, excluding fuel surcharges, increased approximately 18% vs. the comparable quarter 2019.\n\nTotal freight transactions in the Marketplace for J.B. Hunt 360° increased to $468 million in the fourth quarter 2020 compared to $289 million in the prior year quarter. ICS revenue on the platform increased to $387 million with an approximate 27% increase in volume versus the year ago period. JBI and JBT executed approximately $40 million and $41 million, respectively, of their third-party dray and independent contractor costs through the freight platform during the quarter.\n\nOperating income for the current quarter totaled $207.7 million vs. $205.1 million for the fourth quarter 2019. The benefit from increased revenue was offset with cost increases in rail and other third-party purchase transportation costs, including outsource dray costs; increases in driver wages and recruiting costs; investments in technology spend on new ...