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On January 18, JB Hunt Transport Services Inc. announced revenue and revenue growth for the fourth quarter of 2021.
Lowell, Ark-based transportation and logistics company posted net income of $ 242.2 million, or diluted earnings per share, of $ 2.28 over the three months to December 31. Compared to $ 154 million and $ 1.44 in 2020. Total revenue increased 28% from $ 2.7 billion to $ 3.5 billion.
JB Hunt’s net income for the full year was $ 12.17 billion, $ 760.8 million, or $ 7.14, while net income for 2020 was $ 506 million, $ 4.74.
The company said in a report that all segments were inspired by JB Hunt 360 to contribute to revenue growth in the fourth quarter of 2021 compared to the same period last year. Total freight transactions on the market increased 27% from $ 468 million in the fourth quarter of 2020 to $ 393 million.
•• Track road Fourth-quarter segment revenue increased 85% from $ 140.4 million in the year-ago quarter to $ 259.1 million. The result is a 32% increase in revenue per mileage and a 19% increase in average haul distance associated with the continuous addition and expansion of JB Hunt 360box’s continuous net trailer to access drop trailers leveraging the JB Hunt 360 platform. It is due to what I did. capacity.
Operating income for the truck-loading segment increased 210% from $ 8.4 million in the previous year to $ 25.9 million. This was driven by increased transportation costs purchased, higher driver wages, and increased loads and revenue per load, partially offset by hiring costs.
•• Final mile service Reported revenues increased 4% from $ 213.2 million to $ 222 million. The stop count within the segment has decreased by 22% from a year ago. The addition of multiple customer contracts in the previous year was more than offsetting the reduction in stoppages due to labor shortages and supply chain constraints. Revenue per stop increased by about 33%.
Operating income for this segment increased 35% year-over-year from $ 5.5 million to $ 7.4 million. This includes a $ 5.7 million profit from contingent debt reductions that drove the majority of the increase.
•• Integrated capacity solution Reported revenue increased 26% from $ 587.3 million to $ 739 million. Revenue growth was primarily due to a 27% increase in revenue per load due to changes in the customer’s freight mix and higher contracts and spot rates in the trucking business.
ICS operating profit increased 280% from $ 5.6 million in the previous year to $ 21.2 million. The benefits of higher gross margins were partially offset by higher labor and technology costs. Gross profit margin increased from 10.8% in the previous fiscal year to 12.2%.Segment carrier base increased by 36%
•• Dedicated contract service Reported revenues increased 25% from $ 568.3 million in the previous year to $ 712.4 million. Weekly revenue per truck increased by about 7%. Productivity increased by 2%. This was primarily due to the contracted index-based price escalators being partially offset by labor market tightness and pandemic-related labor disruptions that reduced startup account productivity and increased open tracks. By the end of the quarter, the fleet included a net additional 1,778 revenue-generating trucks compared to the previous year.
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DCS operating profit fell 6% from $ 77.6 million to $ 72.6 million.
•• Intermodal Reported revenue increased 26% from $ 1.25 billion to $ 1.57 billion. During the same period in 2020, sales volume fell by 3%. The report states that while demand for intermodal capacity remains strong, network liquidity challenges remain. However, despite the headwinds associated with these quantities, a 30% increase in revenue per load due to changes in the combination of freight, customer charges, and fuel surcharge revenue resulted in an increase in revenue.
Operating income for this segment increased 76% from $ 110.8 million to $ 195.3 million. This is due to higher customer rates, and cost recovery efforts are partly due to higher rail and third-party purchase transportation costs, higher wages and allowances, higher driver recruitment costs, and activity-based costs. Was offset by.
JB Hunt Transport Servcices Inc.Is ranked 4th To Top 100 List of Transport Topics Largest Employment Careers 5th in North America Top 50 List of Largest Logistics Companies in Transportation Topics In North America.
JB Hunt reports higher profits and earnings in the fourth quarter of 2021
https://www.ttnews.com/articles/jb-hunt-reports-higher-profit-revenue-q4-2021 JB Hunt reports higher profits and earnings in the fourth quarter of 2021