JB Hunt Transport Services Q2 Profit Rises - Quick Facts

(RTTNews) - JB Hunt Transport Services Inc. (JBHT) reported second quarter 2013 net earnings of $87.7 million, or $0.73 per share, up from $80.5 million, or $0.67 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.74 per share for the quarter. Analysts' estimates typically exclude special items.

Operating income for the quarter totaled $147 million vs. $137 million for the second quarter 2012. The increase in operating income was primarily due to load growth, partially offset by $2.5 million of implementation expenditures in DCS for two previously announced private fleet conversion contracts, a $2.4 million write-off of abandoned shared technology costs, a $1.5 million loss on the destruction of equipment involved in two train derailments, increases in equipment costs, fewer gains on revenue equipment sales and higher driver recruiting and wage costs.

Total operating revenue for the quarter grew to $1.38 billion, from $1.26 billion for the second quarter 2012. Twenty two analysts had consensus revenue estimate of $1.40 billion for the quarter.