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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

J. B. Hunt Transport Services, Inc. Reports Record Revenues, Record Net Earnings And Record Earnings Per Share For Both The Fourth Quarter And Year Ended December 31, 2012

Stocks in this article: JBHT

Integrated Capacity Solutions (ICS)

  • Fourth Quarter 2012 Segment Revenue: $129 million; up 30%
  • Fourth Quarter 2012 Operating Income: $4.6 million; up 13%

ICS revenue increased 30% in the current quarter vs. the fourth quarter 2011 mostly due to a 47% increase in load volume. Volumes grew faster than revenue primarily due to a change in freight mix driven by customer demand. Both contractual and transactional business realized volume increases, however contractual business continues to grow at a faster pace. Contractual business comprised approximately 67% of the total load volume in the current quarter vs. 59% a year ago.

Operating income increased 13% over the same period in 2011. Fourth quarter 2011 results include an approximate $0.2 million expense for severance and charitable commitments. Gross profit margin increased slightly to 14.1% in the current period from 13.9% last year. Positive results from increased and steady load growth at higher margins and improved productivity of a more experienced workforce were partially offset with cost increases for additional headcount, branch network expansion and a single large claim settlement. ICS’s carrier base increased 12% and the employee count increased 18% from a year ago.

Truck (JBT)

  • Fourth quarter 2012 Segment Revenue: $113 million; down 12%
  • Fourth quarter 2012 Operating Income: $ 5.2 million; down 27%

JBT revenue for the current quarter decreased 12% from the same period in 2011 on an approximate 19% reduction in fleet size. Revenue, excluding fuel surcharges, decreased 12% from the comparable 2011 period. Rates per mile, excluding fuel surcharges, increased 8.9% overall due largely to Hurricane Sandy relief efforts during the quarter. Rates from consistent shippers improved 1.6% from a year ago. At the end of the period, JBT’s tractor count was 2,093 compared to 2,585 in the fourth quarter 2011.

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