Strong quarter for J.B. Hunt
Arkansas-headquartered J.B. Hunt Transport Services, a Fortune 500 company, has announced Q4/2020 earnings of USD 154 million, 0.7% more than in Q4/2019. Revenues for the current quarter amounted to USD 2.74 billion, compared to USD 2.45 billion in the same period in 2019 (+1%).
Final-mile services revenue grew by 30%, driven by the December 2019 acquisition and new contractual business onboarded throughout 2020. Dedicated revenue grew by 3%, primarily from a 9% increase in loads and a modest increase in the fleet. Revenue growth was partially offset by a 1% decline in revenue in the intermodal unit, and a 34% decline in fuel surcharge revenues.
The benefit from increased revenues was offset by cost increases in rail and other third-party purchase transportation costs, including increases in driver wages and recruiting costs. (sh)