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Last updated on Monday, July 18, 2016, 10:28 am

John Roberts, president and CEO of J.B. Hunt Transport Services Inc.

Higher Costs Cut Into J.B. Hunt's 2Q Profit

J.B. Hunt Transport Services Inc. attributed second-quarter profit of $105 million to steady growth and higher volumes in its four segments, but cost increases dampened the positive earnings report. Reporting before markets opened Monday, the Lowell-based carrier posted net income of 92 cents per share, for the quarter that ended June 30, compared to last year's net income of $103 million, or 88 cents per share. Revenue rose 5 percent to $1.62 billion. The company missed the average earnings estimate of 97 cents per share, according to analysts surveyed by Thomson Reuters. Load growth boosted revenue for J.B. Hunt's intermodal and Integrated Capacity Solutions, or logistics, segments, up 3 percent and 17 percent, respectively. Its Dedicated Contract Services segment gained 4 percent in revenue,... [ MORE ]

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