J.B. Hunt Transport Services said its net earnings for the first quarter of 2002 took a significant jump over earnings in the same period last year, along with a corresponding rise in revenue.
J.B. Hunt said net earnings for the first quarter topped $4.9 million on revenue of $510 million, compared to earnings of $1.6 million on revenue of $495 million in the first quarter of 2001. The Lowell, AR-based truckload conglomerate added that it reduced its fuel surcharge by $18.4 million due to lower fuel prices in the first quarter of the year.
. The carrier said revenue was mixed from its business segments in the first quarter of 2002. The company's truckload revenue declined 8%, while intermodal revenue rose 10% and dedicated contract carriage revenues increased 12% compared to results from the first quarter last year.