J.B. Hunt Intermodal 3Q revenue up 23%

J.B. Hunt Transport Services, Inc. announced record third-quarter 2011 net earnings of $68.7 million on operating revenue of $1.17 billion. That compares with net earnings of $52.2 million in third-quarter 2010 on revenue of $986 million.

JB Intermodal (JBI) was a major contributor to the record quarterly performance. Third-quarter 2011 JBI revenue was up 24% to $691 million, and operating income grew 30% to $78.4 million.

“JBI load volume grew 15% on the continued success of converting freightfrom over-the-road to intermodal,” said the company in an earnings statement Friday. “Our eastern network grew 31% and our transcontinental volume grew 8% over prior year reflecting a later start to peak shipping season. Overall revenue grew 24% as a result of the volume growth, fuel surcharge increases, and a 4% increase in rates, excluding fuel surcharge.

“We continued to invest capital in businesses that show resiliency despite the ongoing concern many have expressed about the economy,” said the company. “Intermodal, DCS (Dedicated Contract Services) and ICS (Integrated Capacity Solutions) delivered double-digit growth year over year in both revenue and operating income, while our Truck business yielded modest growth in both categories.”