J. B. Hunt Transport Services, Inc. announced record annual net earnings of $95.5 million for 2003 compared to $51.8 million in 2002, another record, company officials said. Total operating revenue for the year was $2.43 billion, compared with $2.25 billion in 2002. The improvement in profitability was evenly distributed among three business segments: Truck, Intermodal and Dedicated Contract Services.
J. B. Hunt Transport Services, Inc. announced record annual net earnings of $95.5 million for 2003 compared to $51.8 million in 2002, another record, company officials said.
Total operating revenue for the year was $2.43 billion, compared with $2.25 billion in 2002.
The improvement in profitability was evenly distributed among three business segments: Truck, Intermodal and Dedicated Contract Services. "While we have much more to do in attaining a margin that justifies the risk involved in our business, we are satisfied with the pace of the progress,” said Kirk Thompson, President and Chief Executive Officer.
While the improvement in profitability is noteworthy, we believe that there is potential for further improvement. Adequate returns in the Truck segment are a prerequisite for re-investment in the truckload business and we have no plans to add significant capacity in the Truck segment until satisfactory margins are achieved, he said.
Voice your opinion!
To join the conversation, and become an exclusive member of FleetOwner, create an account today!
Over 300 leaders in transportation, logistics, and distribution gathered at Ignite 2024. From new products to innovative solutions, Ignite highlighted the importance of strong...
Prepare your fleet for every season! From winterizing vehicles to summer heat safety, our eBook covers essential strategies for year-round fleet safety. Download now to reduce...
Truck weight isn’t the first thing that comes to mind when considering operational efficiency, hours-of-service regulations, and safety ratings, but it can affect all three.
