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    J B Hunt Transport Services Inc (JBHT)

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    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 .

    1. 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 .
    2. Dedicated Contract Services® (DCS®) - Provides customized freight movement solutions with a high customer retention rate, supporting steady growth through tailored logistics services .
    3. 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 .
    4. Final Mile Services® (FMS) - Handles big and bulky deliveries directly to consumers' homes, showing growth in revenue quality and service metrics .
    5. 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 .
    NamePositionExternal RolesShort 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.

    1. 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?

    2. 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?

    3. 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?

    4. 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?

    5. 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?

    Program DetailsProgram 1Program 2
    Approval DateJuly 20, 2022 August 16, 2024
    End Date/DurationNo expiration date No expiration date
    Total additional amount$500 million $1 billion
    Remaining authorizationFully exhausted $967 million
    DetailsAuthorization fully used Effective upon previous authorization completion
    YearAmount Due (millions)Debt TypeInterest Rate (%)% of Total Debt
    2024500 Current portion of long-term debtN/A21.1% = (500 / 2367.3) * 100
    2025500 Term loans under the senior credit facilityVariable, 6.07% 21.1% = (500 / 2367.3) * 100
    2026700 3.875% senior notes3.875% 29.6% = (700 / 2367.3) * 100
    CustomerRelationshipSegmentDetails

    Major Customer A

    Conducts business across all 5 segments

    All

    Contributed 11% of 2024 total revenue (~$1.33B out of $12.09B total)

    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP2021 PresentCurrent auditor.
    Ernst & Young LLPN/AJune 22, 2021 The change followed a competitive request for proposals process.

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    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.

    J.B. Hunt Transport Services 8-K Annual Meeting Vote Results
    JBHT
    Proxy Vote Outcomes
    Auditor Change
    • Annual Meeting held on April 24, 2025 featuring proxy voting for director elections, executive compensation approval, and auditor ratification.
    • Detailed vote counts provided for each proxy matter, including proposals for board candidates and the appointment of PricewaterhouseCoopers as independent auditor.
    Apr 25, 2025, 12:00 AM
    J.B. Hunt Reports Q1 2025 Financial Results Amid Cost Pressures
    JBHT
    Earnings
    Debt Issuance
    Share Buyback
    • Q1 2025 Financial Highlights: Reported $2.92 billion in revenue, $117.7 million in net earnings, and EPS of $1.17, reflecting modest declines with a 1% drop in revenue, 8% lower operating income, and 4% lower diluted EPS versus last year .
    • Cost & Margin Management: The company is aggressively managing costs amid inflationary pressures and rising insurance premiums through pricing discipline and operational efficiencies, and is prepared to walk away from unprofitable business to protect margins .
    • Segment Performance: Intermodal revenue increased by 5% to $1.47 billion, while Truckload operating income improved significantly despite declines in Dedicated, Integrated Capacity Solutions, and Final Mile Services .
    • Capital Actions: Issued $750 million in senior notes and repurchased $234 million of stock (approximately 1.4 million shares), with $650 million remaining under its share repurchase authorization .
    • CapEx Guidance: Revised 2025 net capital expenditure outlook to $500–700 million .
    • Dedicated Segment Strength: Achieved approximately 260 new truck deals, underscoring robust performance in this key segment .
    Apr 15, 2025, 9:01 PM
    JBHT Initiates $750M Senior Notes Issuance
    JBHT
    Debt Issuance
    • J.B. Hunt Transport Services Inc. has launched a $750 million 4.900% Senior Notes issuance due in 2030, as detailed in the filing.
    • An underwriting agreement was executed with representatives from Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, and a second supplemental indenture was concluded on March 13, 2025.
    • The offering is supported by a Registration Statement on Form S-3 (Registration No. 333-270011) and includes a note guarantee by the Guarantor, ensuring that the Notes rank equally with the existing and future senior debt.
    Mar 13, 2025, 12:00 AM