JB Hunt Transport Services Reports 19 Percent Revenue Jump
Article excerpt
Highlighted: the sentence this signal was extracted from
J.B. Hunt Transport Services achieved a 19 percent year-over-year increase in second-quarter revenues to $3.5 billion on Wednesday, driven by expanding load volumes across most operations as reported by Detik Finance. The company experienced a 22 percent surge in intermodal operating income to $1.75 billion, bolstered by a 10 percent volume growth that yielded a record 578,000 loads. This performance represented the first double-digit quarterly growth for the intermodal segment in more than a decade. Rising truckload rates, tightening capacity, and escalating fuel prices have actively prompted shippers to convert highway transport to rail networks in recent months. "We continue to see significant road-to-rail conversion opportunities in the East, particularly as rising truckload rates, fuel prices and tightening truckload capacity make intermodal an increasingly attractive solution for shippers," said Darren Field, EVP and president of intermodal. The executive noted that the company maintains available intermodal capacity of approximately 10 percent or more and is actively coordinating resource planning with rail providers. However, widespread driver shortages within the truckload capacity sector have increasingly impacted the drayage market due to stricter commercial driver license enforcement. Gross intermodal revenue per load rose 11 percent due to higher customer rates...
Keep reading with a free account
The rest of this article, and every signal for J.B. Hunt, is in your free account.
