J.B. Hunt Transport Services exceeded fourth-quarter earnings expectations, with a 2% decline in revenue but an 11% increase in operating income. A $100-million cost reduction program was implemented, with plans to continue. The company’s President and CEO praised the team’s strong execution and financial results.

The company reported revenue of $3.1 billion, slightly below estimates, with earnings per share of $1.90 surpassing expectations. Intermodal revenue decreased by 3% year over year, but the operating ratio improved. Dedicated revenue was slightly up, while the brokerage unit experienced a quarterly loss.

J.B. Hunt will host a call to discuss fourth-quarter results. Dedication revenue slightly increased, while the brokerage unit incurred a loss. The company continues to focus on cost reduction and operational excellence to drive performance and results.

Read more at Yahoo Finance: J.B. Hunt’s Q4 beats consensus