J.B. Hunt sets record 1Q profit

Truckload carrier J.B. Hunt Transport Services Inc. today announced record first quarter earnings of $49 million today, driven mainly by a strong freight environment. This reflects a modest 3.1% premium over the $47.5 million profit posted the same quarter last year.

Total operating revenue excluding fuel surcharges for the quarter was $690 million—almost 6% more than the 1Q 2005. Revenue excluding fuel surcharges for its intermodal segment increased 8%, its dedicated segment grew 5% and its truck segment expanded 4%.

“Fundamentally, we see little change in the major variables of our business: namely, a stable economy, continued growth in the demand for intermodal and dedicated value-added services, a serious driver shortage and a limited number of over-the-road trucks,” stated Kirk Thompson, president & CEO of J.B. Hunt Transport Services Inc. “Barring a downturn in the economy, something current forecasts are not suggesting, we would expect the remainder of 2006 to mirror the recent past and to continue to reflect demand outpacing supply.”