J.B. Hunt Transport Services, Inc. Reports Revenues, Net Earnings and Earnings Per Share for Both the Fourth Quarter and Year Ended December 31, 2014
By a
Total operating revenue for the current quarter was
Operating income for the current quarter increased to
Net earnings rose 20% to
Operating income for the quarter grew 6%. Benefits from customer rate increases, a smaller percentage of empty repositioning moves and a smaller percentage of outsourced dray usage were substantially offset by cost increases in rail and dray purchased transportation, driver recruiting and retention costs and insurance and claims costs. The current period ended with approximately 73,300 units of trailing capacity and approximately 4,700 power units in the dray fleet. Dedicated Contract Services (DCS) Fourth quarter 2014 Segment Revenue:
Operating income was up 25% from a year ago. The increase is primarily due to the increase in revenue, improved asset utilization, less reliance on outsourced power units and the current period benefit of rapidly declining fuel costs, but was partially offset by continued higher costs for driver hiring and retention, increased insurance and claims costs and higher workers' compensation costs. Integrated Capacity Solutions (ICS) Fourth Quarter 2014 Segment Revenue:
Operating income increased 158% over the same period in 2013 primarily from increased revenue and higher gross profit margin. Gross profit margin increased to 13.7% in the current period from 12.0% last year primarily from customer rate increases in contractual business and maintaining margin discipline in the transactional business. Personnel costs increased from the comparable period last year as we continued to on-board and train staff to expand our branch network. Total branches at the end of the period grew to 29 from 24 at the end of the same period in 2013. ICS's carrier base increased 13% and the employee count increased 16% from a year ago. Truck (JBT) Fourth quarter 2014 Segment Revenue:
Operating income increased
Our net capital expenditures for 2014 approximated
In the fourth quarter 2014, we purchased approximately 615,000 shares of our common stock for
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