J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT), based in Lowell, Arkansas, is a leading transportation and logistics company in North America that provides a range of services, including intermodal, dedicated, truckload, and final mile transportation. In its fourth quarter of 2024, J.B. Hunt reported a decline in several key financial metrics, indicating a challenging market environment.

In the fourth quarter of 2024, J.B. Hunt’s revenue was $3.15 billion, down 5% from $3.30 billion in the fourth quarter of 2023. For the full year 2024, the company reported total revenue of $12.09 billion, reflecting a 6% decrease compared to $12.83 billion in 2023.

Operating income for the fourth quarter increased by 2% to $207 million from $203 million in the same quarter of the previous year. However, operating income for the entire year fell to $831 million, down 16% from $993 million in 2023. The diluted earnings per share (EPS) in the fourth quarter rose 4% to $1.53, compared to $1.47 in the prior year. In contrast, the full year diluted EPS declined by 20% to $5.56, compared to $6.97 in 2023.

Segment performance varied. In the Intermodal (JBI) segment, fourth quarter revenue was $1.60 billion, a decrease of 2% year-over-year, while operating income fell 10% to $117 million. The Dedicated Contract Services (DCS) segment reported revenues of $839 million, a 5% decline, but operating income increased 5% to $90.3 million. Integrated Capacity Solutions (ICS) experienced a significant revenue drop of 15% to $308 million, with an operating loss of $21.8 million.

Declines were also recorded in Final Mile Services (FMS) and Truckload (JBT) segments, with FMS revenue down 6% to $228 million and JBT revenue down 7% to $182 million. FMS’s operating income increased by 7% to $13.2 million, while JBT reported an operating income of $8.6 million, compared to a negligible loss in the prior year.

The company’s total debt decreased to $1.48 billion at the end of the fourth quarter from $1.58 billion a year earlier. Cash and cash equivalents totaled $47 million at the end of 2024. In the fourth quarter, J.B. Hunt repurchased approximately 489,000 shares for about $86 million, with $882 million remaining under its share repurchase authorization.

Operating efficiency metrics show a reduction in the average truck count, with 605 fewer revenue-producing trucks year-over-year, and improvements in operating ratios in certain segments, despite various pressures on revenues and operating income.

The company’s effective tax rates were noted at 19.0% for the fourth quarter of 2024 and 24.8% for the full year, compared to 17.9% and 22.1% for the previous year.