J.B. Hunt Transport Services' JBHT first-quarter 2025 earnings per share of $1.17 surpassed the Zacks Consensus Estimate of $1.15. Quarterly earnings declined 4.1% year over year. Results were hurt by weak freight demand and excess capacity.

Total operating revenues of $2.92 billion narrowly beat the Zacks Consensus Estimate but declined 0.8% year over year. The decline was primarily due to a 5% decrease in average truck count in the Dedicated Contract Services unit, 15% fewer stops in the Final Mile Services unit, 13% fewer loads in the Integrated Capacity Solutions unit, and an 8% decrease in the Truckload gross revenue per load.

Total operating income for the reported quarter decreased 8% year over year to $178.7 million.

JBHT’s Segmental Highlights

Intermodal division generated quarterly revenues of $1.47 billion, up 5% year over year. Our estimate was $1.39 billion. Intermodal volume increased 8% year over year. Transcontinental network loads increased 4%, while eastern network loads increased 13% compared with the first quarter of 2024. Operating income decreased 7% year over year owing to lower yields.

Dedicated Contract Services segment revenues fell 4% from the year-ago period to $822 million, owing to a 5% decline in average trucks and a 2% reduction in productivity (revenue per truck per week). Our estimate for segmental revenues was $904.4 million.

Productivity, excluding fuel surcharge revenues, increased 4% from a year ago, driven by increases in contracted indexed-based price escalators. Segmental operating income increased 14% year over year.

Integrated Capacity Solutions revenues decreased 6% year over year to $268 million, below our estimate of $281.7 million. Segmental volumes decreased 13% year over year. Revenue per load increased 6% year over year, owing to increases in both contractual and transactional rates, as well as changes in customer freight mix.

Segmental operating loss was $2,7 million compared with an operating loss of $17.5 million in the first quarter of 2024. ICS carrier base decreased 3% year over year, largely due to changes to carrier qualification requirements.

Truckload revenues fell 7% year over year to $167 million, below our estimate of $174.4 million. Excluding fuel surcharge revenues, segmental revenues fell 4%, due to a 6% decline in gross revenue per load excluding fuel surcharge revenues. Load volumes increased 2%.

At the first-quarter end, total tractors were 1,852, compared with 1,933 a year ago. Trailers in the segment were 12,675 compared with the year-ago quarter’s figure of 13,306. Segmental operating income increased 66% year over year to $2 million.

Final Mile Services revenues fell 12% year over year to $201 million, lagging our estimate of $214.9 million, due to weakness in demand across many of the end markets served. Operating income plunged 69% year over year, owing to the decline in segment revenues and higher insurance claims and premium expense, apart from increased group medical costs. .

Liquidity & Buyback Details of JBHT

J.B. Hunt exited the first quarter of 2025 with cash and cash equivalents of $43 million compared with $46.9 million at the end of 2024. Long-term debt was $880.2 million compared with $977.7 million at the end of 2024.

In the first quarter of 2025, JBHT purchased 1,400,000 shares for $234 million. As of March 31, 2025, JBHT had approximately $650 million remaining under its share repurchase authorization.

JBHT’s Zacks Rank

Currently, J.B. Hunt carries a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

More Trucking Companies’ Q1 Earnings to Follow 

Many companies in the Zacks Transportation-Truck industry, including the likes of Old Dominion Freight Line ODFL and Landstar System LSTR, are scheduled to report first-quarter earnings numbers later this month. (See the Zacks Earnings Calendar to stay ahead of market-making news.)

Old Dominion Freight Line is scheduled to report first-quarter 2025 earnings on April 23. The company’s performance in the first quarter is expected to have suffered from weak freight demand, geopolitical uncertainty, tariff-related uncertainties and high inflationary pressure.

Old Dominion Freight Line has outpaced the Zacks Consensus Estimate for earnings in each of the last four quarters. The average beat is 1.99%.

Landstar System is scheduled to report first-quarter 2025 earnings on April 29. The company’s performance in the first quarter is expected to have suffered from weak freight demand, geopolitical uncertainty, tariff-related uncertainties and high inflationary pressure.

LSTR has outpaced the Zacks Consensus Estimate for earnings in two of the last four quarters (missing the mark on the other two occasions). The average miss is 0.6%.

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