J B Hunt earnings for 2002 achieve record

Sept. 1, 2003
J B Hunt Transport Services Inc has announced record annual net earnings of $51.8 million for 2002, compared with 2001 full-year earnings of $32.9 million.

J B Hunt Transport Services Inc has announced record annual net earnings of $51.8 million for 2002, compared with 2001 full-year earnings of $32.9 million. Total operating revenue for the year was $2.25 billion, compared with $2.10 billion in 2001.

Operating income rose 40% from $72.2 million in 2001 to $101 million in 2002 on a 7% rise in revenues. Net earnings surged 57% to a record $51.8 million in 2002 from $32.9 million in 2001. Earnings per share jumped 46% in spite of a nearly 8% increase in average shares outstanding.

Fourth-quarter 2002 net earnings were $14.7 million, compared with 2001 fourth quarter earnings of $18.2 million. The fourth quarter earnings for 2002 were negatively influenced by a higher income tax rate, higher insurance and claim costs, and a loss incurred on a terminal facility the company has agreed to sell. As previously reported, fourth-quarter 2001 benefited from a change in the method of estimating ultimate losses relating to liability and worker compensation claims.

Total operating revenue for the fourth quarter of 2002 was $597.7 million, compared with $546.2 million in 2001.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

The Future of Mirrors is Closer Than it Appears

Why Mirror Camera Systems are the next step for fleet safety and exoneration While many commercial trucking cameras are similarly marketed, they are not all created equally. The...

The 20:1 Solution: Unlocking the ROI of a Modern Asset Maintenance Solution

Discover how modern fleet maintenance software can drive step-change improvements in shop efficiency, cost control and vehicle productivity, along with how to calculate the ROI...

Digital and AI Solutions for Rideshare Safety

Anyline’s study, “How Digital AI Solutions Can Enhance Rideshare Safety,” reveals rideshare drivers are overly confident in their tire knowledge, risking passenger safety. Download...

Introducing the World’s First Mobile Tire Tread Scanner

Anyline’s innovation allows accurate tire tread measurement via any mobile device, ensuring legal compliance for fleets. Read more and find out how you can cut operating costs...