Hunt has record earnings
Jan 28, 2004 12:00 PM
J. B. Hunt Transport Services, Inc. announced record annual net earnings of $95.5 million for 2003 compared to $51.8 million in 2002, another record, company officials said. Total operating revenue for the year was $2.43 billion, compared with $2.25 billion in 2002. The improvement in profitability was evenly distributed among three business segments: Truck, Intermodal and Dedicated Contract Services. "While we have much more to do in attaining a margin that justifies the risk involved in our business, we are satisfied with the pace of the progress,” said Kirk Thompson, President and Chief Executive Officer. While the improvement in profitability is noteworthy, we believe that there is potential for further improvement. Adequate returns in the Truck segment are a prerequisite for re-investment in the truckload business and we have no plans to add significant capacity in the Truck segment until satisfactory margins are achieved, he said.
