Press release
J.B. Hunt Transport Services, Inc. Reports U.S. GAAP Revenues, Net Earnings and Earnings Per Share for the Second Quarter 2022
Second Quarter 2022 Revenue: $3.84 billion; up 32% Second Quarter 2022 Operating Income: $353.1 million; up 46% Second Quarter 2022 EPS: $2.42 vs. $1.61; up
About this update from J.b. Hunt Transport Services, Inc.
[{"type":"text","content":"\n\nSecond Quarter 2022 Revenue: $3.84 billion; up 32%\n\n\nSecond Quarter 2022 Operating Income: $353.1 million; up 46%\n\n\nSecond Quarter 2022 EPS: $2.42 vs. $1.61; up 50%\n\n\n LOWELL, Ark.--(BUSINESS WIRE)--\nJ.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) announced second quarter 2022 U.S. GAAP (United States Generally Accepted Accounting Principles) net earnings of $255.3 million, or diluted earnings per share of $2.42 versus second quarter 2021 net earnings of $172.2 million, or $1.61 per diluted share.\n\nTotal operating revenue for the current quarter was $3.84 billion, compared with $2.91 billion for the second quarter 2021, an increase of 32%. All segments contributed to the year-over-year growth in consolidated revenue. Intermodal (JBI) revenue grew 42% driven by an 8% increase in volume and a 32% increase in revenue per load. Dedicated Contract Services® (DCS®) revenue grew 39% as a result of a 21% increase in average revenue producing trucks and a 14% improvement in fleet productivity versus the prior-year period. Despite a softer spot-rate environment, our asset-light Truckload (JBT) segment and our non-asset Integrated Capacity Solutions™ (ICS) segment grew revenue 46% and 3% year-over-year, respectively, as the blending of our drop-trailer and live network service offering eliminates waste and drives efficiencies for our customers by leveraging the capabilities of our J.B. Hunt 360°® platform. Final Mile Services® (FMS) revenue increased 21%, primarily driven by our recent acquisition. Current quarter total operating revenue, excluding fuel surcharge revenue, increased 21% versus the comparable quarter 2021.\n\nTotal freight transactions in the Marketplace for J.B. Hunt 360 increased 11% to $556 million in the second quarter 2022 compared to $500 million in the prior-year quarter. JBT and JBI executed approximately $113 million and $51 million of their third-party dray, independent contractor and power-only capacity costs through the platform during the quarter, an increase of 60% and 54% year-over-year respectively. ICS revenue on the platform decreased 1% to $392 million versus the year ago period.\n\nOperating income for the current quarter totaled $353.1 million versus $241.5 million for the second quarter 2021. Operating income increased from second quarter 2021 primarily due to higher volumes, customer ...