U.S. trucker J.B. Hunt Transport Services Inc posted a 39 percent jump in quarterly profit on strength in intermodal volumes.
JB Hunt’s fourth-quarter net income was $57.9 million, or 46 cents a share, compared with $41.7 million, or 32 cents a share, a year ago. Revenue rose 16 percent to $1.02 billion.
Analysts, on average, expected earnings of 45 cents a share on revenue of $1.01 billion, according to Thomson Reuters I/B/E/S.
Load count in the trucker’s intermodal segment jumped 13 percent, while segment revenue rose 20 percent.
Intermodal refers to shipping goods in containers that can be moved from one form of transportation to another, like, say, from a ship to a truck. It has been gaining traction in the freight transportation market due to fuel and cost efficiencies. (Reuters)