J.B. Hunt's 3Q Income Improves

J.B. Hunt Transport Services said late Thursday its third-quarter net income rose from a year ago as operating income at two of its four business segments rose more than 20%.

Net income increased to $78.2 million, or 65 cents per share, from $68.7 million, or 57 cents, a year earlier.

Revenue rose to $1.3 billion, from $1.17 billion a year ago, the company said in a statement.

Truck segment operating income declined 41% to $4 million, while revenue slipped 8% to $117 million on an approximate 9% reduction in fleet size, the company said. At the end of the quarter, J.B. Hunt operated 2,381 tractors from 2,605 a year ago. 

Intermodal operating income climbed 25% to $97.9 million on load volume. Revenue gained 15% to $794 million.

Its dedicated contract services unit’s operating income fell 14% to $25.6 million, while revenue rose 1% to $273 million.

Operating income for integrated capacity solutions rose 43% to $5.5 million and revenue rose 30% to $121 million.

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ISM Manufacturing Index Improves in September

U.S. manufacturing activity rose in September from to a three-year low, showing expansion for the month, the Institute for Supply Management said Monday.

ISM’s monthly manufacturing index reading rose to a reading of 51.5, from 49.6 in August, the group said.

Figures lower than 50 indicate contraction, while figures higher than 50 show expansion.

Economists had forecast the index would rise to a reading of 49.7, Bloomberg reported.

Eleven of 18 manufacturing industries showed expansion, and the new orders index jumped 5.2 points to a 52.3 reading.

The employment index rose 3.1 points to 54.7, while production gained 2.3 points to 49.5, ISM said.

ISM’s factory index measures manufacturing components of the economy.

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ISM Services Index Improves in September

An index of the U.S. economy’s service sector improved in September, the Institute for Supply Management said Wednesday.

ISM’s monthly services index rose to a reading of 55.1, from 53.7 in August. Figures greater than 50 indicate expansion.

Economists had predicted the index would drop to 53.4, Bloomberg reported.

The index averaged 56.1 in the five years prior to the recession that began with December 2007.

ISM’s services index measures nonmanufacturing components of the economy and the services sector — which includes transportation, retail sales and financial services and accounts for nearly two-thirds of the U.S. gross domestic product.

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FedEx Improves Vehicle Fuel Efficiency 16.6%

FedEx Corp. has increased its vehicle fuel efficiency by 16.6% from 2005 levels, due in part to the use of all-electric vehicles and hybrid fuel vehicles, the company said Monday.

In 2012 FedEx increased the size of its alternative vehicle fleet by 18%, the company reported in its annual global citizenship report, saving 345,000 gallons of fuel. 

FedEx now has 364 hybrid-electric vehicles and 118 electric vehicles in service.

The company also announced that by 2020 it would reduce its aircraft emissions by 30%, increasing its current goal by 50%.

FedEx is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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Consumer Confidence Improves In August

Consumer confidence improved in August, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

The final index for the month rose to a reading of 73.6, from 72.3 in July.

Economists had predicted a small change at 72.2, Bloomberg reported.

The survey’s index of current conditions asks Americans if they are better off than they were a year ago and if it's a good time to buy big-ticket items.

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Consumer Confidence Improves

Consumer confidence rose this month to its highest level in since June, according to the Thomson Reuters/University of Michigan consumer sentiment index released Wednesday.

The month’s final index rose to 64.1, from 60.9 in October.

A preliminary reading two weeks ago showed a reading of 64.2.

The final index was lower than economists’ median forecast of a 64.5 reading, Bloomberg reported.

The index averaged a reading of 89 in the five years leading up to the recession at the end of 2007.

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Cass Freight Index Improves in October

ThinkStock.comOctober freight volumes grew modestly but revenue rose strongly, according to the latest freight index report from Cass Information Systems.

The monthly Cass freight index said October shipment levels grew 2.2% over the same month last year, while shipper expenditures jumped 16.1%.

The index covers all modes of freight transportation.

Although both parts of the index grew year-over-year, they also contracted sequentially from September, although Cass said that is a typical seasonal pattern.

“The numbers appear to show that efforts by carriers to push up rates and recover increases in operating costs appear to be sticking,” the report said.

“The result is that while the weight of a shipment, averaged across all modes, has risen about 1%, year-over-year, the cost of transporting that average shipment has escalated dramatically.”

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Clarke Posts 3Q Loss; Freight Unit Improves

Canadian holding company Clarke Inc. reported a third-quarter loss but its freight transportation unit’s performance improved.

Its net loss was C$16.3 million, or 81 cents a share, compared with net income of C$8.9 million, or 43 cents, a year ago.

Its freight unit’s earnings before interest taxes depreciation and amortization rose to $6.5 million, up from $5.2 million a year ago.

Total revenue slipped to C$41.6 million from C$57.6 million. Freight revenue improved, the company said.

Ontario-based Clarke, which operates in truckload and less-than-truckload sectors via its Clarke Transport unit, also has a home heating segment.

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Consumer Confidence Improves

Consumer confidence rose this month, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

The month’s final index rose to 60.9, from 59.4 in September.

A preliminary reading two weeks ago showed a reading of 57.5.

The final index was higher than economists’ median forecast of a 58 reading, Bloomberg reported.

The index averaged a reading of 89 in the five years leading up to the recession at the end of 2007.

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Universal Truckload's 3Q Profit Improves

Universal Truckload Services said its third-quarter profit increased on higher truckload revenue.

Net income climbed to $5.4 million, or 35 cents a share, from $2.9 million, or 18 cents, a year ago.

Revenue for the quarter ended Oct. 1 rose 19.9% to $187.5 million, the company said late Thursday.

Truckload revenue climbed 16.8% to $111 million.

Universal Truckload is ranked No. 40 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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