How did J.B. Hunt perform in the fourth quarter of 2024?

Net earnings were $155.5 million, or $1.53 per diluted share, compared with $153.5 million, or $1.47 per diluted share, in the fourth quarter of 2023. Total operating revenue declined 5% to $3.15 billion, while operating income increased 2% to $207.0 million.

What drove the decline in full-year 2024 results?

Full-year 2024 total operating revenue fell to $12.09 billion from $12.83 billion, and operating income fell to $831.2 million from $993.2 million. Diluted EPS was $5.56 versus $6.97. The filing attributes the Intermodal pressure to lower yields, and notes that the prior-year period included insurance-related charges.

How did the segments perform in the fourth quarter?

Intermodal revenue was $1.60 billion, down 2%, with operating income down 10% to $117.0 million. Dedicated Contract Services revenue was $839 million, down 5%, with operating income up 5% to $90.3 million. Integrated Capacity Solutions revenue was $308 million, down 15%, with an operating loss of $(21.8) million. Final Mile Services revenue was $228 million, down 6%, with operating income up 7% to $13.2 million. Truckload revenue was $182 million, down 7%, with operating income of $8.6 million.

How is the company's balance sheet and capital allocation positioned?

Total debt was $1.48 billion at December 31, 2024, down from $1.58 billion a year earlier. Cash and cash equivalents were $47 million. Net capital expenditures for 2024 were approximately $674 million, versus $1.60 billion in 2023. The company repurchased about 489,000 shares for approximately $86 million in the fourth quarter and had approximately $882 million remaining under its repurchase authorization.

What tax rate should investors expect in 2025?

The company expects its 2025 annual tax rate to be between 24.0% and 25.0%, based on current enacted legislation. The annual effective tax rates were 24.8% for 2024 and 22.1% for 2023.

JBHT 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed January 16, 2025. Cited figures are marked; the original filing is the authoritative source.

J.B.

Hunt Transport Services, Inc. (NASDAQ: JBHT) reported U.S. GAAP net earnings of $155.5 million^a, or $1.53 per diluted share, for the fourth quarter ended December 31, 2024, compared with $153.5 million, or $1.47 per diluted share, in the fourth quarter 2023. Total operating revenue was $3.15 billion, down 5% from $3.30 billion, while operating income rose 2% to $207.0 million. For full year 2024, total operating revenue was $12.09 billion, down from $12.83 billion, and operating income was $831.2 million versus $993.2 million; diluted EPS was $5.56 compared with $6.97.

Results were affected by intangible asset impairment charges of $16.0 million^b in the fourth quarter 2024 and insurance-related charges of $53.4 million in the prior-year quarter. By segment, Intermodal revenue fell 2% to $1.60 billion on a 6% decline in revenue per load, partly offset by a 5% volume increase, and its operating income declined 10% on lower yields. Dedicated Contract Services revenue fell 5% with operating income up 5%.

Integrated Capacity Solutions revenue fell 15% on a 22% volume decline, but its operating loss narrowed to $(21.8) million, with gross profit margin rising to 17.3% from 14.0%. Truckload operating income improved to $8.6 million^c, and Final Mile Services operating income rose 7%. Balance sheet and cash flow items point to lower debt and reduced capital spending.

Total debt was $1.48 billion^d at December 31, 2024, versus $1.58 billion a year earlier. Net capital expenditures for 2024 were approximately $674 million, compared with $1.60 billion in 2023.

The company repurchased about 489,000 shares for approximately $86 million in the fourth quarter and had about $882 million remaining under its repurchase authorization. The company expects its 2025 annual tax rate to be between 24.0% and 25.0%.

02—Key points

Key Highlights

Q4 2024 diluted EPS of $1.53, up from $1.47 in Q4 2023, on net earnings of $155.5 million
Q4 2024 total operating revenue of $3.15 billion, down 5%, with operating income up 2% to $207.0 million
Full-year 2024 diluted EPS of $5.56 versus $6.97, with operating income of $831.2 million versus $993.2 million
Intermodal operating income fell 10% to $117.0 million on lower yields; volume rose 5%
Integrated Capacity Solutions gross profit margin increased to 17.3% from 14.0%, narrowing its operating loss to $(21.8) million
Total debt reduced to $1.48 billion from $1.58 billion at year-end 2023; 2024 net capital expenditures of approximately $674 million versus $1.60 billion in 2023
Repurchased about 489,000 shares for approximately $86 million in Q4 2024, with approximately $882 million remaining under the authorization

03—Questions

Frequently Asked Questions

How did J.B. Hunt perform in the fourth quarter of 2024?
Net earnings were $155.5 million, or $1.53 per diluted share, compared with $153.5 million, or $1.47 per diluted share, in the fourth quarter of 2023. Total operating revenue declined 5% to $3.15 billion, while operating income increased 2% to $207.0 million.
What drove the decline in full-year 2024 results?
Full-year 2024 total operating revenue fell to $12.09 billion from $12.83 billion, and operating income fell to $831.2 million from $993.2 million. Diluted EPS was $5.56 versus $6.97. The filing attributes the Intermodal pressure to lower yields, and notes that the prior-year period included insurance-related charges.
How did the segments perform in the fourth quarter?
Intermodal revenue was $1.60 billion, down 2%, with operating income down 10% to $117.0 million. Dedicated Contract Services revenue was $839 million, down 5%, with operating income up 5% to $90.3 million. Integrated Capacity Solutions revenue was $308 million, down 15%, with an operating loss of $(21.8) million. Final Mile Services revenue was $228 million, down 6%, with operating income up 7% to $13.2 million. Truckload revenue was $182 million, down 7%, with operating income of $8.6 million.
How is the company's balance sheet and capital allocation positioned?
Total debt was $1.48 billion at December 31, 2024, down from $1.58 billion a year earlier. Cash and cash equivalents were $47 million. Net capital expenditures for 2024 were approximately $674 million, versus $1.60 billion in 2023. The company repurchased about 489,000 shares for approximately $86 million in the fourth quarter and had approximately $882 million remaining under its repurchase authorization.
What tax rate should investors expect in 2025?
The company expects its 2025 annual tax rate to be between 24.0% and 25.0%, based on current enacted legislation. The annual effective tax rates were 24.8% for 2024 and 22.1% for 2023.

04—Continue

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