J.B.Hunt Q1 2023 Earnings Report
Key Takeaways
J.B. Hunt Transport Services, Inc. reported a decrease in U.S. GAAP net earnings for Q1 2023 to $197.8 million, or $1.89 per diluted share, compared to $243.3 million, or $2.29 per diluted share in Q1 2022. Total operating revenue decreased by 7% to $3.23 billion. The decline was primarily driven by volume decreases in ICS, Intermodal, and Final Mile Services, as well as a decline in revenue per load in Truckload. This was partially offset by revenue growth in Dedicated Contract Services.
Total operating revenue decreased by 7% compared to Q1 2022.
Net earnings decreased to $197.8 million, or $1.89 per diluted share.
Dedicated Contract Services revenue increased by 13%, driven by a 7% increase in average revenue producing trucks.
Operating income decreased by 17% due to lower volumes and pressure on customer rate and cost recovery efforts.
J.B.Hunt
J.B.Hunt
J.B.Hunt Revenue by Segment
Forward Guidance
The press release contains forward-looking statements based on current information. Actual results may differ due to various factors outlined in the company's Annual Report on Form 10-K.
Revenue & Expenses
Visualization of income flow from segment revenue to net income