J.B. Hunt Transport Services(US:JBHT)2023-04-17 21:50Financial Performance Overview - J B Hunt's Q1 2023 operating income was $277.5 million, a 17% decrease compared to Q1 2022[5] - Q1 2023 revenue was $3.23 billion, a 7% decrease compared to Q1 2022[19] - Q1 2023 EPS was $1.89, down 18% from $2.29 in Q1 2022[63] Segment Performance - Dedicated Contract Services (DCS) revenue increased by 13% to $879 million, and operating income increased by 29% to $102.6 million[5] - Intermodal (JBI) revenue decreased by 4% to $1.54 billion, and operating income decreased by 16% to $168.7 million[85] - Integrated Capacity Solutions (ICS) revenue decreased significantly by 42% to $385 million, resulting in an operating loss of $5.4 million compared to an operating income of $24.2 million in Q1 2022[63] - Truckload (JBT) revenue decreased by 10% to $206 million, with operating income decreasing significantly by 83% to $5.0 million[85] - Final Mile Services (FMS) revenue decreased by 4% to $225 million, but operating income increased to $6.6 million from $0.6 million in Q1 2022[20] Segment Specifics - Intermodal volume decreased 5% due to weaker freight activity[23] - ICS gross profit declined 39% due to lower volume and revenue[44] - DCS revenue increased 13% primarily from a 7% increase in average revenue producing trucks and a 5% increase in productivity[90] - JBT revenue decreased 10% and revenue excluding fuel surcharge revenue decreased 15% primarily due to a 22% decline in revenue per load excluding fuel surcharge revenue partially offset by an 8% increase in load volume[110]