J.B. Hunt Transport Services (NASDAQ: JBHT) reported fourth-quarter earnings per share of $1.44, ahead of the $1.30 consensus estimate and the year-ago result of $1.35.
Revenue increased 12% year-over-year to $2.74 billion, up 18% excluding fuel surcharges. The press release cited more than 50% growth in its brokerage and truck divisions as the reasons for the increase. Both segments were noted as benefiting from capacity available through digital freight platform Marketplace for J.B. Hunt 360.
Freight transactions facilitated through 360 increased to $468 million in the quarter, up more than 60% year-over-year.
The brokerage segment returned to profitability on increased volumes, higher revenue per load and a modest uptick in gross margins.
Intermodal revenue declined 1.4% year-over-year to $1.25 billion as loads increased slightly and revenue per load dipped a little more than 2%.
Final-mile revenue was up 30%, largely due to past acquisitions, and the dedicated segment grew revenue by 3%.
Operating income was up 1.3% year-over-year at $208 million. Increased revenue was mostly offset by rail and third-party transportation cost increases, which includes higher driver wages.
The company will host a call at 5 p.m. Tuesday to discuss these results with analysts. Stay tuned to FreightWaves for continuing coverage of J.B. Hunt’s earnings results.