JB Hunt Transport Services Inc. reported unaudited consolidated earnings results for fourth quarter and year ended December 31, 2012. For the quarter, the company reported net earnings of $84 million or diluted earnings per share of 70 cents against net earnings of $72.6 million or 61 cents per diluted share fourth quarter of 2011. Fourth quarter 2011 results included $3.9 million of pretax expense related to severance agreements for executive retirees and a charitable contribution, which reduced net earnings by 2 cents per diluted share. Total operating revenue was $1.34 billion compared with $1.2 billion for the fourth quarter 2011. Operating income increased to $143.3 million against $122.3 million for the fourth quarter 2011. The increase is primarily from the higher revenue on greater load volumes and improved network balance in JBI, new incremental customer accounts in DCS, and greater load volumes and better gross margins in ICS. These improvements were partially offset by increased costs across almost all cost categories. Cost controls allowed for operating income to grow at a faster pace than revenues, improving overall margin. Net earnings rose 16% from 2011, primarily due to the growth in revenue, effective cost controls and a lower cost of borrowing. Earnings before income taxes were $138.04 million compared to $116.07 million reported a year ago.

For the year, the company reported total operating revenues of $5.05 billion compared to $4.52 billion reported a year ago. Operating income was $530.2 million compared to $444.23 million reported a year ago. Earnings before income taxes were $504.64 million compared to $415.73 million reported a year ago. Net earnings were $310.35 million or $2.59 per diluted share compared to $257.01 million or $2.11 per diluted share reported a year ago. Book value per actual share outstanding was $6.74 compared to $4.85 as at December 31, 2011. Net cash provided by operating activities was $548.04 million compared to $635.7 million reported a year ago. Net capital expenditures for 2012 approximated $370 million against $446 million in 2011. The decrease in capital expenditures was primarily due to purchasing fewer containers and chassis for JBI and trading fewer tractors across all business units.