J.B. Hunt Transport Services, Inc. is one of the largest surface transportation, delivery, and logistics companies in North America, offering a wide range of services across five distinct business segments . The company specializes in intermodal transportation, dedicated contract services, integrated capacity solutions, final mile services, and truckload delivery, utilizing a vast network of resources to meet diverse customer needs . J.B. Hunt's operations are supported by a significant fleet of containers and advanced logistics platforms, contributing to its position as a leader in the industry .
- Intermodal (JBI) - Utilizes over 118,000 containers for efficient rail and truck transportation, with plans to expand to 150,000 containers by 2027, significantly contributing to the company's operations .
- Dedicated Contract Services® (DCS®) - Provides customized freight movement solutions with a high customer retention rate, supporting steady growth through tailored logistics services .
- Integrated Capacity Solutions (ICS) - Offers brokerage services by leveraging the J.B. Hunt 360 platform to match shippers with carriers, though facing challenges in the current market environment .
- Final Mile Services® (FMS) - Handles big and bulky deliveries directly to consumers' homes, showing growth in revenue quality and service metrics .
- Truckload (JBT) - Provides traditional over-the-road full truckload delivery services, including the J.B. Hunt 360box® program, offering flexible solutions despite a decline in revenue .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Darren Field Executive | President of Intermodal and Executive Vice President | None. | Darren Field joined J.B. Hunt in 1994 as a Night Dispatcher and has progressed through various roles within the company. | |
John Kuhlow Executive | Chief Financial Officer, Chief Accounting Officer, Executive Vice President | None. | John Kuhlow joined J.B. Hunt in 2006 as an Assistant Corporate Controller. He has held various roles, including Principal Financial and Accounting Officer, and is a CPA. | |
Nicholas Hobbs Executive | Chief Operating Officer, President of Contract Services, Executive Vice President | None. | Nicholas Hobbs joined J.B. Hunt in 1984 as a Management Trainee and has held various leadership roles, contributing significantly to the growth of the Contract Services division. | |
Shelley Simpson Executive | President and Chief Executive Officer | Board member of Mercy Health Foundation NWA. | Shelley Simpson has been with J.B. Hunt since 1994, starting as a customer service representative. She became CEO on July 1, 2024, and has held various leadership roles, including President of Highway Services and Chief Commercial Officer. | View Report → |
Stuart Scott Executive | Chief Information Officer and Executive Vice President | None. | Stuart Scott joined J.B. Hunt in 2016. He previously held CIO positions at Tempur-Sealy International, Microsoft, and various General Electric businesses. | |
Francesca M. Edwardson Board | Director | Chair of the Compensation Committee at Duluth Holdings, Inc.; Board Chair at Lincoln Park Zoo; Board Member at Rush University Medical Center. | Francesca M. Edwardson has been a director at J.B. Hunt since 2011. She has extensive experience in the transportation industry and legal environment, previously serving as CEO of the American Red Cross of Chicago and Northern Illinois. | |
Persio Lisboa Board | Director | Chairman of the Remuneration Committee at James Hardie Industries plc; Board position at Broadwind Energy, Inc.. | Persio Lisboa joined the J.B. Hunt Board in 2023. He had a 35-year career at Navistar, Inc., serving as President and CEO before retiring in 2021. | |
Sharilyn S. Gasaway Board | Director | Chair of the Audit Committee for Genesis Energy, LP. | Sharilyn S. Gasaway has been a director at J.B. Hunt since 2009. She has experience as Executive Vice President and CFO of Alltel Corp., managing its transition through a major buyout and merger. | |
Thad Hill Board | Director | President and CEO of Calpine Corporation. | Thad Hill joined the Board of Directors at J.B. Hunt in 2021. He is the President and CEO of Calpine Corporation and serves on the Executive Compensation Committee and the Nominating and Corporate Governance Committee. |
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Given the continued pressure on Intermodal margins and the challenges in restoring them, could you elaborate on the specific pricing actions and cost initiatives you are implementing to achieve your margin targets, and how sustainable are these measures in the long term?
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With the integration of the brokerage assets from BNSF Logistics resulting in additional operating expenses and a $2 million negative impact this quarter, how do you plan to address these integration costs, and when do you expect to see a meaningful improvement in ICS profitability?
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In light of increased competition in the dedicated market and reports of private fleets expanding their own capacity, how are you adjusting your sales strategy to secure new dedicated contracts, and are you seeing any pressure on pricing or margins in this segment?
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Considering the significant cost inflation across the industry and the current low rates that you believe are unsustainable, how confident are you in your ability to implement necessary pricing increases in the upcoming bid season without sacrificing volume growth, especially given the excess capacity in the market?
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With the anticipated shift in market dynamics and your focus on repairing margins, what specific steps are you taking to prepare for a potential market upturn, and how are you balancing investments in capacity and technology with the need for cost control to ensure acceptable returns on capital?
Research analysts who have asked questions during HUNT J B TRANSPORT SERVICES earnings calls.
Bascome Majors
Susquehanna Financial Group
4 questions for JBHT
Brian Ossenbeck
JPMorgan Chase & Co.
4 questions for JBHT
Daniel Imbro
Stephens Inc.
4 questions for JBHT
Jonathan Chappell
Evercore ISI
4 questions for JBHT
Jordan Alliger
Goldman Sachs
4 questions for JBHT
Ken Hoexter
BofA Securities
4 questions for JBHT
Scott Group
Wolfe Research
4 questions for JBHT
Brandon Oglenski
Barclays
3 questions for JBHT
Christian Wetherbee
Wells Fargo
3 questions for JBHT
Ravi Shanker
Morgan Stanley
3 questions for JBHT
Ariel Rosa
Citigroup
2 questions for JBHT
Thomas Wadewitz
UBS
2 questions for JBHT
Chris Wetherbee
Wells Fargo
1 question for JBHT
Dan Moore
B. Riley Securities
1 question for JBHT
David Zazula
Barclays
1 question for JBHT
Jason Seidl
TD Cowen
1 question for JBHT
J. Bruce Chan
Stifel
1 question for JBHT
Richa Hernan
Deutsche Bank
1 question for JBHT
Tom Wadewitz
UBS Group
1 question for JBHT
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Major Customer A | Conducts business across all 5 segments | All | Contributed 11% of 2024 total revenue ($1.33B out of $12.09B total) |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
BNSF Logistics, LLC | 2023 | Acquired for $85.0 million in cash, this business combination involved obtaining substantially all brokerage assets and assuming specific liabilities, with a detailed allocation that included approximately $12.4 million in goodwill and $41.9 million in definite-lived intangible assets. The acquisition bolsters J.B. Hunt’s Integrated Capacity Solutions segment by strengthening its brokerage operations and aligning with the company’s long-term strategy and synergy with BNSF. |
Alterri Distribution Center, LLC | 2022 | Acquired for $31.0 million in cash, this deal within the Intermodal business segment included $8.7 million in recorded goodwill and $0.9 million in definite-lived intangible assets, along with other operational assets and liabilities, all recorded at fair values. The acquisition strategically enhanced operations by leveraging Alterri's established operating model and geographic location for expected synergies. |
Zenith Freight Lines, LLC | 2022 | Acquired for $86.9 million in cash (adjusted to $87.1 million after working capital adjustments), this deal for the Final Mile Services segment included key assets such as accounts receivable, property, intangible assets, and recorded goodwill of approximately $11.2‑$12.4 million, alongside definite-lived intangible assets valued at around $41.9‑$42.7 million. The acquisition aimed at expanding J.B. Hunt’s Final Mile Services capabilities and contributed roughly $28 million in revenue during Q2 and Q3 2022, emphasizing network synergies and operational growth. |
Recent press releases and 8-K filings for JBHT.
- Achieved Q3 EPS of $1.76 vs. $1.47 estimate and revenue of $3.05 billion vs. $3.025 billion estimate
- Net earnings rose to $170.8 million from $152.1 million year-over-year
- Operating income increased 8% to $242.7 million, supported by lower interest expenses and a reduced effective tax rate
- Intermodal revenue per load grew 12%, while truckload and final-mile segments saw declines
- Shares have declined about 18.3% YTD versus the S&P 500’s 13% gain, underscoring market pressures
- Revenue was roughly flat YoY; operating income improved 8% and diluted EPS grew 18% versus Q3 2024.
- Returned value to shareholders with over $780 million of share repurchases YTD while maintaining target leverage.
- Advanced cost-reduction initiatives, eliminating >$20 million in Q3 toward a $100 million structural savings goal.
- Intermodal volumes declined 1% YoY; transcontinental volumes were down 6% while Eastern loads rose 6%, underpinned by strong service and efficiency gains.
- Dedicated Contract Services sold ~280 new trucks in the quarter, sustained double-digit margins, and expects flat 2025 operating income versus 2024.
- Revenue flat YoY; operating income +8%; EPS +18%, driven by productivity and cost management despite higher insurance, wage and equipment expenses.
- Repurchased $780 M of stock YTD, maintaining leverage around 1× trailing EBITDA while prioritizing business investment, dividend support and opportunistic buybacks.
- Eliminated >$20 M in Q3 toward a $100 M cost-to-serve savings goal, with most impact slated for 2026 as part of broader structural cost reductions.
- Freight demand remains soft: intermodal volumes down 1% YoY but service gains continue; ICS achieved low-mid single digit rate increases in bid season with healthy gross margins; Dedicated sold ~280 new trucks in Q3 toward an 800–1,000 annual target and expects 2025 operating income flat vs. 2024.
- Consolidated Q3 revenue was $3.05 B, flat YoY; operating income rose 8% to $242.7 M; diluted EPS increased 18% to $1.76.
- Dedicated Contract Services revenue grew 2% to $864 M with operating income up 9% to $104.3 M; Integrated Capacity Solutions narrowed its operating loss to $0.8 M from $3.3 M; Final Mile Services revenue fell 5% and operating income declined 42%.
- Returned capital via purchase of 1.6 M shares for $230 M, leaving $107 M under repurchase authorization.
- Ended Q3 with $52 M in cash and $1.60 B of debt outstanding, up from $1.53 B a year earlier.
- J.B. Hunt Transport reported third-quarter 2025 revenue of $3.05 billion, flat year-over-year.
- Operating income rose 8% to $242.7 million, and net earnings reached $170.8 million; diluted EPS was $1.76, up 18% from $1.49 in Q3 2024.
- Net interest expense declined due to lower rates, and the effective tax rate fell to 24.0% from 25.2%, with the full-year rate expected at 24.5%.
- The company repurchased approximately 1.6 million shares for $230 million, leaving $107 million under its share repurchase authorization.
- On August 18, 2025, J.B. Hunt’s Board appointed A. Brad Delco as Executive Vice President and Chief Financial Officer, effective September 1, 2025, with John Kuhlow moving to Chief Accounting Officer.
- Delco’s annual base salary is set at $525,000, effective September 1, 2025.
- He will receive $1.45 million in restricted share units vesting over 2026–2028 based on ROIC and operating income growth performance, plus a $1 million promotional RSU award vesting equally from 2031–2033.
- Delco is eligible for the 2025 executive bonus plan with a 100% salary target, payout ranging 25%–200%, prorated for his CFO tenure in 2025.
- Consolidated revenue was flat; operating income fell 4%; diluted EPS was <1% below prior year; $225 million of free cash flow generated.
- $100 million of annual cost savings identified across efficiency, asset utilization and technology, with most benefits hitting 2026 and beyond.
- 2025 net CapEx narrowed to $550–650 million; executed a quarterly record $319 million of share repurchases in Q2.
- Intermodal volumes rose 6% YoY (Eastern +15%, Transcon –1%) with first positive bid-season pricing in two years; launched Quantum service in Mexico.
- Dedicated segment sold ~275 trucks in Q2 (on pace for 800–1,000 annual net sales) and anticipates net fleet growth in H2.
- JB Hunt leadership discussed market dynamics, noting a fairly stable truckload demand with potential supply constraints due to driver enforcement and cabotage implications.
- Dedicated segment performance was highlighted, with management expecting net growth later in the year while managing margin pressures from new startup costs.
- Intermodal operations in the Eastern network showed promising volume growth and strategic pricing, positioning the unit for potential margin improvements as the market stabilizes.
- Domestic intermodal volumes remain steady despite import challenges, as customers adjust sourcing and inventory strategies, indicating resilience in the network.
- Eastern volume growth reached 13% in Q1, underscoring the successful conversion from truckload to intermodal shipments and strong customer interest.
- Pricing strategies are being fine-tuned to balance quality service with cost pressures such as excess capacity and rising truckload rates, aiming for a fair return.
- Executives emphasized agility and cost discipline to navigate a volatile market environment, focusing on lowering cost to serve and enhancing operational excellence.
- Intermodal performance remains robust with discussion on double-digit growth in the East and 8% Q1 load growth, driven by service improvements rather than preshipping tactics.
- Dedicated fleet strategy was highlighted, with a net addition target of 800 to 1,000 trucks and a strong pipeline despite anticipated timing delays for some deals.
- Digital marketplace improvements were noted, including efforts to balance automation with enhanced fraud detection and carrier validation.