J.B. Hunt Transport Services, Inc., (NASDAQ: JBHT) announced second-quarter 2018 net earnings of $151.7 million, or diluted earnings per share of $1.37 vs. second-quarter 2017 net earnings of $97.9 million, or 88 cents per diluted share.
Total operating revenue for the current quarter was $2.14 billion, compared with $1.73 billion for the second quarter 2017, an increase of 24%. Current quarter total operating revenue, excluding fuel surcharges, increased 21% vs. the comparable quarter 2017.
Operating income for the current quarter totaled $214.8 million vs. $163.6 million for the second quarter 2017.
Interest expense in the current quarter increased due to higher interest rates compared to the same period last year. The effective income tax rate for the quarter was 26.0% vs. 37.4% for the second quarter 2017.
At June 30, 2018, the company had approximately $1.0 billion outstanding on various debt instruments compared to $943 million at June 30, 2017, and $1.09 billion at December 31, 2017.
Hunt`s net capital expenditures for the six months ended June 30, 2018, approximated $354 million compared to $165 million for the same period 2017. At June 30, 2018, we had cash and cash equivalents of $15.2 million.
J. B. Hunt purchased approximately 420,000 shares of its own common stock during the second quarter 2018 for approximately $50 million. At June 30, 2018, it had approximately $471 million remaining under our share repurchase authorization. Actual shares outstanding at June 30, 2018 approximated 109.3 million.
Shares in Hunt improved $3.18, or 2.6%, to $125.01
