J.B. Hunt beats second-quarter profit estimates on strong intermodal growth

Revenue growth was led by the Intermodal segment, which forms 50% of overall revenue and involves shipping goods via two or more modes of transport. Volumes in the segment grew 10% in the reported quarter.

Unlike rivals, J.B. Hunt's large exposure to intermodal shipping helped it win customers seeking to reduce their transportation costs by switching to rail from road.

The company was also aided by cost cuts it had implemented to weather the prolonged demand lull faced by the U.S. trucking industry.

J.B. Hunt Transport Services reported a second-quarter profit that beat analysts' estimates on Wednesday, driven by higher volumes in its intermodal segment.

The company's results kick off second-quarter earnings season for the U.S. trucking industry, where spot rates have surged after a government ban on commercial driver licenses for non-U.S. citizens triggered a sharp contraction in truck and driver supply.

• The Arkansas-based company posted a profit of $1.91 per share in the quarter to June 30, compared to $1.31 per share a year before. Analysts, on average, expected a profit of $1.74 per share, according to data compiled by LSEG.
• Quarterly revenue, including revenue from fuel surcharge, grew 19% to $3.5 billion, compared with analysts' expectation of .