On the segment performance, Intermodal (JBI) saw a 15% jump in revenues aided by improved revenue per load numbers. This segment brings in more than 50% of JB Hunt’s top line. Dedicated Contract Services (DCS) sales increased 25% due to improvement in productivity and new fleet additions.
Integrated Capacity Solutions (ICS) revenue rose 7% helped by healthy growth in volumes. Truck (JBT) segment benefited from improved revenue per load numbers resulting in a 21% jump in sales.
Earlier this month, the company acquired Cory 1st Choice Home Delivery for $100 million through its subsidiary JB Hunt Transport. This deal is expected to boost its last mile delivery offerings in the furniture delivery domain to its customers. DCS segment is going to benefit from this purchase in terms of expanded geographic presence and warehouses which would augur well to the top line.
JB Hunt’s shares are up 7% after the bell post the earnings announcement. Last year, the logistics firm has lost nearly 18% touching new 52-week low in December.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.