J.B. Hunt posts record earnings in 3Q

Oct 15, 2003 12:00 PM

Trucking and logistics operator J. B. Hunt Transport Services said it posted record net earnings in the third quarter this year – almost twice what it earned in the same period of 2002.

Lowell, AR-based J.B. Hunt reported net earnings of $32.7 million on revenue of $622 million in the third quarter, compared to earnings of $16.8 million on revenues of $583 million in the same period last year.

The carrier noted that while revenue from its for-hire truckload operations was basically flat in the third quarter, intermodal revenue rose 16% compared to the same period in 2002, with dedicated contract carriage revenue increasing 4%.

"Clearly we are pleased with the improvement in profitability," president & CEO Kirk Thompson said. "The economy has been lackluster for the better part of that three-year period and continues to struggle intermittently.”