J.B. Hunt Transport Services
said second-quarter earnings and revenue rose from a year ago, but the company indicated that it still has more work to do to reach its profitability targets.
The transportation and logistics company earned $25.1 million, or 62 cents a share, in the quarter, compared with $15.5 million, or 40 cents a share, a year ago.
Total operating revenue was $600 million, up from $557 million last year. Revenue at the company's truck segment fell 2%, while the intermodal segment saw revenue rise 14% from a year ago. Dedicated contract services revenue increased 12%.
"Earnings improved significantly in the quarter as the operating ratios in each of our three operating segments showed substantial improvement," the company said in a press release. "While the improvement is gratifying, we are still short of our profitability goals of 90% or better operating ratios in each of the segments. We will continue to press on toward those goals."
Analysts polled by Thomson First Call expected J.B. Hunt to earn 49 cents a share in the second quarter.
trading, shares of J.B. Hunt were rising $3.40, or 8%, to $44.09.