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J.B. Hunt Transport ServicesJBHT

Legal name
J.B. Hunt Transport Services, Inc.
Sector
Other
Industry
Trucking (No Local)
Exchange
Nasdaq

Stock Price $JBHT

Latest filings

You are here#81 of 92 in Industrials by market cap

Filing record · 2016–202610-K1110-Q348-K102

JBHT filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 102 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Leadership change8-K · Feb ’20Feb ’20
  3. Leadership change8-K · Jan ’22Jan ’22
  4. Material agreement8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $12.00B
YoY changeLargest recent move+26.3%in FY21Latest −0.7%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All JBHT Financial Metrics55 metrics

Income Statement12

Balance Sheet23

Cash Flow15

Per Share5

02—Overview

J.B. Hunt Transport Services Financial Overview 2021–2025

Updated Nov 4, 2026

J.B. Hunt bought back $923.3 milliona of its own stock in FY2025, nearly five times the $175.5 million it paid in dividends the year before, and it did so while revenue was flat. That is the story: a freight cycle that gutted earnings through FY2024 has stopped getting worse, and management is shrinking the share count to turn a stabilizing business into per-share growth. Shares outstanding fell to 94.6 million from 100.6 million in a single year.

The long-term arc shows the damage and the repair. Revenue grew from $12.17 billion in FY2021 to $11.99 billionb in FY2025, essentially flat, but the path was brutal. Sales peaked at $14.81 billion in FY2022, then fell 13.4% in FY2023 and 5.8% in FY2024. The operating ratio slid from 91.0% to 93.1% before improving to 92.8% in FY2025. Diluted EPS went from $7.14 to $6.12 over the full span, with a trough of $5.56 in FY2024.

The proof of stabilization is in the details. FY2025 operating income rose to $865 millionc from $831 million, and operating cash flow climbed to $1.68 billion from $1.48 billion. Capital spending was cut from $1.86 billion in FY2023 to $865 million in FY2024. Intermodal operating income reached $450 million, and the ICS brokerage loss narrowed to $10 million from $56 million. Debt stayed manageable at $1.47 billion. The market paid up for the recovery: at the close of FY2025, the stock traded at $194.34, or 31.8x earnings, for a market cap of $18.4 billion.

Recent Developments (Q2 and Q3 2026)

Growth reaccelerated in Q2 2026, then cooled in Q3 2026. Revenue rose 19.4% to $3.50 billion in Q2, and diluted EPS jumped to $1.91d from $1.31. In Q3, revenue rose 20% to $3.68 billion, but operating income gained only 2% to $247.1 million and EPS rose just 3% to $1.82. Rents and purchased transportation climbed 31.9% and fuel costs 58.8%, so cost growth outran profit. Intermodal led, with Q2 operating income up 58%. ICS returned to a $9.6 million profit in Q3. Dedicated income fell 22% and Final Mile fell 76%. Debt fell to $1.12 billion after the $700 million note repayment.

Bull case: Volume-led intermodal growth and a profitable ICS show the recovery is broadening. Bear case: Fuel and purchased transportation costs are squeezing margins, and 36.9xe earnings as of the Q3 2026 report date (October 22, 2026) leaves little room for error.

What to watch: Dedicated and Final Mile margin recovery; purchased transportation and fuel cost growth versus revenue growth

03—Filings

Recent SEC Filings

  1. 8-KJ.B. Hunt Transport Services 8-K Report, Financial Results (Oct 15, 2026)J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported third quarter 2026 U.S. GAAP net earnings of $172.4 million, or $1.82 per diluted share, compared with net earnings of $170.8 million, or $1.76 per diluted share, in the third quarter of 2025. Total operating revenue rose 20% to $3.68 billion from $3.05 billion, and operating income increased 2% to $247.1 million. Excluding fuel surcharge revenue, total operating revenue increased 13%, driven mainly by an 8% increase in Intermodal loads, a 27% increase in Integrated Capacity Solutions revenue per load and a 29% increase in Truckload revenue per load, partially offset by a 10% decline in Final Mile Services stops. The filing notes that operating income as a percentage of gross revenue declined year over year due to higher purchased transportation, fuel and fuel taxes, and insurance claims expenses. By segment, Intermodal revenue rose 20% to $1.83 billion with operating income up 18% to $147.5 million. Dedicated Contract Services revenue increased 11% to $960 million, but operating income fell 22% to $81.7 million, reflecting higher professional driver personnel, medical claims and insurance costs. Integrated Capacity Solutions revenue grew 57% to $434 million and swung to operating income of $9.6 million from an operating loss of $0.8 million a year earlier. Final Mile Services revenue fell 3% to $200 million and operating income dropped 76% to $1.6 million, while Truckload revenue rose 37% to $261 million with operating income down 6% to $7.0 million. On the balance sheet, debt outstanding was approximately $1.12 billion at September 30, 2026, down from $1.60 billion a year earlier and $1.47 billion at December 31, 2025. Net capital expenditures for the nine months ended September 30, 2026 were $291.1 million, versus $490.9 million in the prior-year period. During the quarter the company repurchased approximately 704,000 shares for about $174 million, leaving roughly $619 million under its repurchase authorization. The company stated it expects its 2026 full-year annual tax rate to be approximately 24.0%.
  2. 8-KJ.B. Hunt Transport Services 8-K Report, Financial Results (Jul 15, 2026)J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported second-quarter 2026 U.S. GAAP net earnings of $181.0 million, or $1.91 per diluted share, compared with $128.6 million, or $1.31 per diluted share, in the second quarter of 2025. Total operating revenue rose 19% to $3.50 billion, and revenue excluding fuel surcharge increased 11%. Operating income increased 32% to $259.5 million, driven by higher revenue, productivity gains, structural cost removal and lower group medical claims, partially offset by higher purchased transportation costs in the ICS and JBT segments. For the six months ended June 30, 2026, diluted EPS was $3.39 versus $2.48 a year earlier. Intermodal (JBI) was the largest contributor, with segment revenue up 22% to $1.75 billion and operating income up 58% to $150.9 million on 10% volume growth. Dedicated Contract Services revenue rose 9% to $921 million, and Integrated Capacity Solutions (ICS) revenue rose 49% to $388 million with operating income of $1.7 million, compared with a loss of $3.6 million a year earlier. Final Mile Services revenue declined 6% and Truckload (JBT) posted a $1.3 million operating loss, versus operating income of $3.4 million in the prior-year quarter. On the balance sheet, debt outstanding was approximately $1.15 billion at June 30, 2026, down from $1.47 billion at December 31, 2025. Net capital expenditures for the six months were $144.9 million, compared with $399.1 million a year earlier. In the second quarter the company repurchased about 392,000 shares for approximately $98 million and had about $791 million remaining under its repurchase authorization. The company now expects its 2026 annual effective tax rate to be between 24.0% and 24.5%.
  3. 8-KJ.B. Hunt Transport Services 8-K Report, Shareholder Vote Results (Apr 24, 2026)J.B. Hunt Transport Services, Inc. (JBHT) reported in this Current Report on Form 8-K, filed April 24, 2026, the results of its Annual Meeting of Shareholders held on April 23, 2026. The filing covers Item 5.07 (Submission of Matters to a Vote of Security Holders) and states that three matters from the proxy dated March 11, 2026, were voted on. No additional business came before the meeting. Shareholders elected all nine director nominees to one-year terms: Brett Biggs, Francesca M. Edwardson, Sharilyn S. Gasaway, Thad (John B., III) Hill, Bryan Hunt, Persio Lisboa, John N. Roberts, III, James L. Robo, and Shelley Simpson. Support varied across nominees. For example, Brett Biggs received 81,443,754 votes for and 1,097,576 against, while James L. Robo received 72,035,656 for and 10,523,895 against. Shareholders also approved, on an advisory basis, the compensation of the named executive officers, with 77,169,925 votes for, 5,396,316 against, and 87,328 abstentions. Shareholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the 2026 calendar year, with 88,052,214 votes for, 51,551 against, and 136,467 abstentions.
  4. 8-KJ.B. Hunt Transport Services 8-K Report, Financial Results (Apr 15, 2026)J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported first quarter 2026 U.S. GAAP results under Item 2.02 of this Form 8-K, furnishing a news release dated April 15, 2026. Total operating revenue was $3.06 billion, up 5% from $2.92 billion in the first quarter of 2025. Revenue excluding fuel surcharge revenue increased 3%. Operating income rose 16% to $207.0 million, and net earnings were $141.6 million, or $1.49 per diluted share, compared with $117.7 million, or $1.17 per diluted share, a year earlier. Management attributed the improvement to higher revenue, cost-elimination efforts and improved productivity, partially offset by higher purchased transportation expense, particularly in Integrated Capacity Solutions (ICS) and Truckload (JBT). Intermodal (JBI) was the largest contributor, with segment operating income of $114.5 million, up 21%, on a 3% increase in volume. Dedicated Contract Services (DCS) operating income rose 9% to $87.4 million. ICS revenue grew 20% to $323 million, but it posted an operating loss of $(4.7) million, compared with $(2.7) million a year earlier, as gross profit margin fell to 12.0% from 15.3%. Final Mile Services (FMS) and JBT both improved operating income, with FMS up 53% to $7.2 million and JBT up 33% to $2.7 million. On the balance sheet, total debt outstanding was $1.30 billion at March 31, 2026, down from $1.47 billion at December 31, 2025. Net capital expenditures were $70.7 million, compared with $225.0 million in the first quarter of 2025. The company purchased approximately 383,000 shares for about $80 million in the quarter and had approximately $888 million remaining under its share repurchase authorization. Management reiterated its expectation that the 2026 annual effective tax rate will be between 24.0% and 25.0%.
  5. 8-KJ.B. Hunt Transport Services 8-K Report, Regulation FD Disclosure (Mar 5, 2026)J.B. Hunt Transport Services, Inc. (Nasdaq: JBHT) reported in a Form 8-K filed March 5, 2026, that its common stock has been approved for dual listing on Nasdaq Texas, LLC, a newly established exchange. Under Item 7.01 (Regulation FD) and Item 8.01 (Other Events), the company said trading on Nasdaq Texas is expected to begin March 6, 2026, under the symbol "JBHT." The filing states that the current principal listing on the Nasdaq Global Select Market will remain unchanged, and the dual listing will not affect investors' ability to buy or sell the stock. The accompanying press release, Exhibit 99.1, describes the listing as an opportunity to align with economic growth and capital formation in Texas and the surrounding region, with access to additional liquidity, global investors and enhanced technology solutions. President and CEO Shelley Simpson attended the closing bell ceremony marking the exchange's launch. The company stated it supports more than 1,800 customers with operations or locations in Texas and employs approximately 3,100 employees across more than 100 locations in the state. The filing contains no financial results, guidance or quantitative performance data. Its substance is a market-structure and corporate-visibility update rather than an operating or financial disclosure.
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04—See also

Related Companies

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