J.B. Hunt Transport Services, Inc. Reports U.S. GAAP Revenues, Net Earnings and Earnings Per Share for the Second Quarter 2025

About this update from J.b. Hunt Transport Services, Inc.

[{"type":"text","content":"\n\nSecond Quarter 2024 Revenue: $2.93 billion; down 7%\n\n\n\nSecond Quarter 2024 Operating Income: $205.7 million; down 24%\n\n\n\nSecond Quarter 2024 EPS: $1.32 vs. $1.81; down 27%\n\n\n\n LOWELL, Ark.--(BUSINESS WIRE)--\nJ.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) announced second quarter 2024 U.S. GAAP (United States Generally Accepted Accounting Principles) net earnings of $135.9 million, or diluted earnings per share of $1.32 versus second quarter 2023 net earnings of $189.6 million, or $1.81 per diluted share.\n\n\nTotal operating revenue for the current quarter was $2.93 billion, compared with $3.13 billion for the second quarter 2023, a decrease of 7%. The decline in revenue was primarily driven by a 5% decrease in gross revenue per load in Intermodal (JBI) and a decline in load volume of 25% in Integrated Capacity Solutions (ICS), 9% in Truckload (JBT), and 9% in Dedicated Contract Services® (DCS®). These items were partially offset by Final Mile Services® (FMS) revenue growth of 5%, primarily driven by new contracts implemented over the past year, and a 5% increase in revenue per load in ICS. Current quarter total operating revenue, excluding fuel surcharge revenue, decreased 6% versus the comparable quarter 2023.\n\n\nOperating income for the current quarter decreased 24% to $205.7 million versus $270.7 million for the second quarter 2023. The decrease in operating income was primarily due to lower revenue, and higher insurance and claims, equipment-related, and certain personnel-related expenses. Operating income as a percentage of gross revenue decreased year-over-year as a result of the same aforementioned expense items, partially offset by lower rail and truck purchased transportation costs as a percentage of gross revenue.\n\n\nNet interest expense for the current quarter increased approximately 38% from the second quarter 2023 due to higher effective interest rates and consolidated debt balance, partially offset by higher interest income.\n\n\nThe effective income tax rate was 26.8% in the current quarter compared to 26.0% in the second quarter 2023. We continue to expect our 2024 annual tax rate to be between 24.0% and 25.0%.\n\n\nSegment Information:\n\n\nIntermodal (JBI)\n\n\n\nSecond Quarter 2024 Segment Revenue: $1.41 billion; down 5%\n\n\n\nSecond Quarter 2024 Operating Income: $99.2 million; down ...

More updates from J.b. Hunt Transport Services, Inc.