J.B. Hunt Transport Services announced today, April 17 that profit edged up 3 percent in the first quarter, as revenue expanded 10 percent. For the quarter ended March 31, earnings were $49 million, compared with $47.5 million during the same quarter last year. Revenue increased to $779.9 million from $709.2 million last year.
The company’s intermodal segment’s operating ratio, or operating expense divided by net sales, was 88.9 percent, compared with 88 percent during the same period last year. Its dedicated contract services segment’s operating ratio was 89.2 percent, compared with 89.7 percent last year. And its truck segment operating ratio was 91.1 percent in the first quarter, compared with 89.5 percent last year.
“The first quarter, while a little shy on the truck side, met our internal overall profitability expectations created in the fall of 2005, and we remain confident in our ability to grow our earnings for the balance of 2006,” says Kirk Thompson, president and chief executive officer of the Lowell, Ark.-based truckload firm.