J.B. Hunt reported a revenue increase of 9.1% year-over-year, but net earnings and operating income decreased due to rising costs, including a one-time bonus to drivers and increased spending on technology and rail transportation.
Total operating revenue increased by 9.1% to $2.28 billion, compared to $2.09 billion in Q1 2019.
Net earnings decreased to $104.8 million, or $0.98 per diluted share, compared to $119.6 million, or $1.09 per diluted share in Q1 2019.
Operating income decreased to $154.7 million, including a $12.3 million charge for employee bonuses and an $8.2 million accrual related to revenue divisions owed to BNSF Railway Company.
Intermodal volumes increased by 7%, while Dedicated Contract Services revenue increased by 10% due to additional customer contracts and higher fleet utilization.
This press release contains forward-looking statements, which are based on information currently available. Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, those discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2019. We assume no obligation to update any forward-looking statement to the extent we become aware that it will not be achieved for any reason.
Visualization of income flow from segment revenue to net income
Analyze how earnings announcements historically affect stock price performance