UPDATE: J.B. Hunt Posts In-Line Q2 Earnings

J.B. Hunt Transport Services JBHT reported a 6.5% rise in its second-quarter earnings. The Lowell, Arkansas-based company posted a quarterly profit of $93.4 million, or $0.79 per share, versus a year-ago profit of $87.7 million, or $0.73 per share. Its revenue climbed 12% to $1.55 billion from $1.38 billion. However, analysts were projecting a profit of $0.79 per share on revenue of $1.53 billion. J.B. Hunt's revenue at its dedicated contract services segment climbed 15%, while revenue at its integrated capacity business jumped 31%. Its trucking segment revenue declined 0.1% in the quarter. Operating income climbed to $159 million from $147 million. The effective income tax rate was 38.10% in the quarter up from 37.88% in 2013. John N. Roberts III, President and CEO of J.B. Hunt Transport Services said, “The slowdown in train velocity and the difficult driver recruiting environment has challenged our growth in JBI. We are pleased we were able to maintain profitability levels despite these obstacles.” J.B. Hunt shares closed at $74.29 yesterday.