J.B. Hunt's Q1 2024 net earnings were $127.5 million, or $1.22 per diluted share, compared to $197.8 million, or $1.89 per diluted share, in Q1 2023. Total operating revenue decreased by 9% to $2.94 billion. The decline was primarily driven by lower segment gross revenue per load in Intermodal and Truckload, fewer loads in Integrated Capacity Solutions, and a modest decline in average trucks and productivity in Dedicated Contract Services.
Total operating revenue decreased by 9% year-over-year, primarily due to declines in Intermodal, Truckload, and Integrated Capacity Solutions segments.
Net earnings decreased to $127.5 million, or $1.22 per diluted share, compared to $197.8 million, or $1.89 per diluted share in the prior year.
Intermodal volume was flat, with transcontinental network loads increasing but eastern network loads decreasing.
Dedicated Contract Services revenue decreased by 2% due to a decline in average trucks and productivity.
The company did not provide specific forward guidance in this earnings report.
Visualization of income flow from segment revenue to net income
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