J.B Hunt gets off to a good start in 2022
In Q1/2022, the USA-based J.B. Hunt group saw its revenues grow by 33.2% to USD 3.49 billion, compared to USD 2.62 billion in Q1/2021, while operating income increased by 66% to almost USD 243.3 million. All segments contributed to the revenue growth versus the prior year period.
Truckload (JBT) and integrated capacity solutions (ICS) revenue surged by 77% and 29.0% year over year, respectively. Intermodal (JBI) revenue climbed by 36%, reaching USD 1.6 billion. Dedicated contract services (DCS) revenue grew by 28% to USD 77.1%. Last mile services (FMS) revenue increased by 8% to USD 218.0 million.
The group reported an operating loss of USD 0.2 million compared to an income of USD 8.5 million in Q1/2021. The loss was attributed to "increases in professional driver and non-driver wages and benefits, implementation costs for newly awarded business, third-party contract carrier expense, driver-recruiting costs and professional fees related to the Zenith acquisition." (sh)