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JB Hunt's net income jumps 23 pct. in 2Q

Volume growth in JB Hunt's intermodal segment helps drive 23 percent jump in 2Q net income

LOWELL, Ark. (AP) -- J.B. Hunt Transport Services Inc.'s second-quarter net income jumped 23 percent, buoyed by higher revenue and volume in its intermodal and integrated capacity solutions segments, the trucking company said Monday.

But its revenue just missed Wall Street expectations, and investors sent shares lower in after-hours trading.

J.B. Hunt reported net income of $80.5 million, or 67 cents per share, for the April-June quarter. That compares with net income of $65.7 million, or 53 cents per share, in the prior-year period.

Revenue rose 9 percent to $1.26 billion, from $1.15 billion a year earlier. Excluding the impact of fuel surcharges, revenue also rose about 9 percent.

Analysts surveyed by FactSet expected a profit of 67 cents per share on revenue of $1.3 billion.

Operating income for the company's biggest segment, intermodal, rose 22 percent to $93.4 million, benefiting from steady demand, load growth and lower office personnel compensation costs.

Revenue in the segment climbed 13 percent to $762 million, as customer rate increases and fuel surcharges helped keep revenue per load virtually flat versus a year earlier.

J.B. Hunt's integrated capacity solutions unit saw revenue rise 23 percent, while revenue for the company's dedicated contract services segment edged up 1 percent. Truck segment revenue fell 3 percent.

Shares ended regular trading down 76 cents at $58.33. The stock fell another $1.89, or about 3 percent, to $56.44 in extended trading.

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