LOWELL, Ark. -- Third-quarter net earnings for J.B. Hunt Transport Services came in at $68.7 million, with operating revenue of $1.17 billion. That's up 19 percent from a year ago.
Total operating revenue for the current quarter was $1.17 billion, an 11 percent increase from the $986 million for the Q3 last year.
Growth for the Lowell, Arkansas based company was led by their intermodal business, but all four business units chipped in: Load growth of 15 percent in intermodal and 14 percent in Integrated Capacity Solutions drove 24 percent and 21 percent increases in segment revenue, and the Dedicated Contract Services segment increased operating revenue by 16 percent — and mostly from new accounts. Due to higher rates and an increase in fuel surcharges, Truck segment revenue jumped 2 percent.
All four segments also contributed to the $119 million total — up from $91 million in 2010— for operating income, with intermodal leading the charge again.
John N. Roberts, JBHT president and CEO, said that by mixing the right mix of services, along with the commitment of their people, they managed to "overcame less predictable freight patterns and some weather related events to produce another record quarter."
He added that despite the economy, J.B. continues to invest in their businesses that show resiliency.
We're guessing one of those was intermodal.
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