01—Abstract
Summary
Summary of the 10-Q filed April 24, 2026. Cited figures are marked; the original filing is the authoritative source.
J.B.
Hunt Transport Services, Inc. reported first-quarter 2026 net earnings of $141.6 milliona, or $1.49 per diluted share, versus $117.7 million, or $1.17 per diluted share, in the first quarter of 2025. Total operating revenues rose to $3.06 billion from $2.92 billion, an increase of 4.6% as stated in the filing, while operating income increased to $207.0 million from $178.7 million. Growth was led by JBI, JBT and ICS load volumes, with ICS and JBT also citing higher revenue per load.
The filing notes that ICS operating performance declined as gross profit margin fell to 12.0% from 15.3%, driven by higher purchased transportation costs. Cash and balance sheet activity was dominated by debt refinancing. Net cash provided by operating activities was $353.0 millionb, down from $404.2 million, mainly due to working capital timing.
The company repaid $700 millionc of 3.875% senior notes at their March 2026 maturity, funded in part by a $475.0 million term loan draw and $1.30 billion of total long-term debt at quarter end. Trade receivables rose to $1.33 billion, and cash ended the quarter at $4.6 million. The company repurchased about 383,000 shares for $80.1 million, leaving $888.2 million available under its repurchase authorization, and declared a $0.45 quarterly dividend payable May 22, 2026.
Management expects net capital expenditures of $600 million to $800 milliond for calendar 2026, and it guided to an annual effective tax rate of 24.0% to 25.0%. Management stated that it was in compliance with all covenants at March 31, 2026, and the disclosure controls were concluded effective.
02—Key points
Key Highlights
- Total operating revenues were $3.06 billion in Q1 2026, up from $2.92 billion, with operating income of $207.0 million versus $178.7 million a year earlier.
- Diluted EPS was $1.49 compared with $1.17 in Q1 2025; net earnings were $141.6 million versus $117.7 million.
- JBI operating income rose to $114.5 million from $94.4 million, and DCS operating income rose to $87.4 million from $80.3 million.
- ICS posted an operating loss of $4.7 million as gross profit margin fell to 12.0% from 15.3%, due to higher purchased transportation costs.
- The $700 million 3.875% senior notes matured and were fully repaid in March 2026; total long-term debt rose to $1.30 billion, including $475.0 million of term loans drawn in February 2026.
- Operating cash flow was $353.0 million versus $404.2 million; the company spent $80.1 million repurchasing shares and paid $42.6 million in dividends.
- The company expects 2026 net capital expenditures of $600 million to $800 million and an annual effective tax rate of 24.0% to 25.0%.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed April 24, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $3.06B$2.92B | +4.6% |
| Operating Expenses | $2.85B$2.74B | +3.9% |
| Operating Income | $207.05M$178.68M | +15.9% |
| Net Income | $141.55M$117.74M | +20.2% |
| EPS (Basic) | $1.50$1.18 | +27.1% |
| EPS (Diluted) | $1.49$1.17 | +27.4% |
| Shares Outstanding (Basic) | 94.54M99.91M | −5.4% |
| Shares Outstanding (Diluted) | 95.20M100.49M | −5.3% |
05—Questions
Frequently Asked Questions
How did J.B. Hunt perform in the first quarter of 2026?
Total operating revenues increased to $3.06 billion from $2.92 billion, and operating income increased to $207.0 million from $178.7 million. Net earnings were $141.6 million, or $1.49 per diluted share, compared with $117.7 million, or $1.17 per diluted share, in the prior-year quarter.
Which segments drove the results, and which underperformed?
JBI and DCS posted higher operating income, at $114.5 million and $87.4 million respectively. JBT and FMS also improved, while ICS reported an operating loss of $4.7 million, up from a $2.7 million loss, as its gross profit margin declined to 12.0% from 15.3%.
How did the company manage its debt in the quarter?
The company repaid $700 million of 3.875% senior notes at maturity in March 2026. It drew $475.0 million of committed term loans under its credit agreement in February 2026, and total long-term debt was $1.30 billion at March 31, 2026, compared with $766.9 million at December 31, 2025.
What capital allocation actions did the company take?
The company repurchased about 383,000 shares for $80.1 million and paid $42.6 million in dividends. It had $888.2 million remaining under its stock repurchase authorization at March 31, 2026, and declared a regular quarterly dividend of $0.45 per share payable May 22, 2026.
What does management expect for the rest of 2026?
Management expects net capital expenditures of $600 million to $800 million for the full calendar year 2026 and an annual effective income tax rate between 24.0% and 25.0%. It also stated that the company was in compliance with all financing covenants at March 31, 2026.
06—Continue