J.B. Hunt earnings lifted by intermodal
J.B. Hunt Transport Services Inc. reported record profit for the third quarter of $60.3 million, compared to $50.8 million in the same 2007 period.
Revenue was $996 million, a 12 percent increase over the $892 million for the third quarter 2007.
The company said the increase in operating revenue was primarily attributable to growth in its intermodal and non-asset-based integrated capacity solutions segments, as well as sharply higher fuel surcharge revenue.
Containers and trailers grew from 58,802 to 61,406 over the same period, primarily to support additional intermodal business.
“While we anticipate that we will continue to be able to provide adequate capacity to meet our customers’ truck transportation needs, it has become increasingly clear that long-term value for our customers is enhanced by the conversion of as much of their freight to our best-in-class intermodal service as possible. Lengths of haul beyond one day’s transit (about 500 miles) should be considered as prime targets for conversion and we will continue to act as our customers’ chief advocate and facilitator in that endeavor,” said Kirk Thompson, the company’s president and chief executive.