J.B. Hunt Transport Services Inc , a freight transport company, posted better-than-expected quarterly results, helped by a jump in revenue at its intermodal segment as demand for transportation services grew.
“Scarcity of capacity in intermodal, truckload and brokerage markets was quite pronounced in the current quarter,” Chief Executive Kirk Thompson said in a statement.
For the second quarter, J.B. Hunt reported net income of $52.1 million, or 40 cents a share, compared with $24 million, or 19 cents a share, a year ago.
Revenue rose 22.5 percent to $942.8 million. Intermodel segment, which moves freight across multiple transportation platforms contributed about 57 percent to the total revenue, was up 24 percent from a year-ago period. (Reuters)