JBHT · J.B. Hunt Transport Services

217 filings

8-K

JBHT 8-K Current Reports

J.B. Hunt Transport Services - 217 current reports

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

Showing 1-50 of 217 filings

8-K

Earnings & ResultsExhibits & Filings

J.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%.

Oct 15, 2026 8-K

Earnings & ResultsExhibits & Filings

J.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%.

Jul 15, 2026 8-K

Shareholder Matters

J.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.

Apr 24, 2026 8-K

Earnings & ResultsExhibits & Filings

J.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%.

Apr 15, 2026 8-K

Regulation FDOther EventsExhibits & Filings

J.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.

Mar 5, 2026 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Jan 15, 2026)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported U.S. GAAP net earnings of $181.1 million, or $1.90 diluted EPS, for the fourth quarter ended December 31, 2025, versus $155.5 million, or $1.53 per diluted share, in the fourth quarter 2024. Total operating revenue was $3.10 billion, down 2% from $3.15 billion, while operating income rose 19% to $246.5 million, helped by lower costs and by the prior-year quarter's $16.0 million of pre-tax intangible asset impairment charges. For the full year 2025, revenue was $12.00 billion (down 1%), operating income was $865.1 million (up 4%), and diluted EPS was $6.12 versus $5.56 in 2024. Segment results were mixed. Intermodal operating income rose 16% to $135.5 million on revenue down 3%, and Dedicated operating income rose 9% to $98.4 million. Integrated Capacity Solutions improved to an operating loss of $3.3 million from $21.8 million, while Final Mile Services operating income fell 43% to $7.5 million on a 10% revenue decline. Truckload revenue rose 10%, but its operating income declined 2% to $8.4 million on higher purchased transportation costs. The company also reported total debt of $1.47 billion at year-end, net capital expenditures of approximately $575 million for 2025, and share repurchases of approximately $923 million for the full year, with about $968 million remaining under its authorization. The filing furnishes a news release (Exhibit 99.1) under Item 2.02, and the company stated its 2026 annual tax rate is expected to be between 24.0% and 25.0%. The filing also notes a conference call held the same day from 4:00 to 5:00 p.m. CST.

Jan 15, 2026 8-K

Material AgreementsFinancial EventsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Material Agreement (Dec 2, 2025)

J.B. Hunt Transport Services, Inc. (JBHT) disclosed in this Form 8-K that on November 25, 2025, it and its principal operating subsidiary, J.B. Hunt Transport, Inc., entered into a $1.7 billion Second Amended and Restated Credit Agreement with Bank of America, N.A. as administrative agent. The agreement supersedes the company's prior $1.5 billion Amended and Restated Credit Agreement dated September 27, 2022. It extends the maturity of the existing $1.0 billion revolving line of credit to a new five-year term expiring November 25, 2030, with the option to request two one-year extensions. The amended facility increases the accordion feature by $100 million, to $400 million, which would bring the revolving line of credit to $1.4 billion if fully exercised and agreed to by lenders. The lenders also committed, upon borrower requests during the six-month period beginning November 25, 2025, to fund up to $700 million of term loans maturing November 25, 2028. This term loan commitment replaces $500 million of term loans that the company borrowed and fully repaid in March 2025. The company states it intends to use the facility for equipment purchases, repurchases of its common stock, refinancing of existing senior debt, and other working capital purposes. Borrowing costs are tied to SOFR or a Base Rate plus an applicable margin, and the agreement contains covenants, financial ratios, and customary default provisions.

Dec 2, 2025 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Oct 15, 2025)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) furnished an 8-K under Item 2.02 on October 15, 2025, attaching a news release announcing results for the third quarter ended September 30, 2025. Total operating revenue was $3.05 billion, compared with $3.07 billion in the third quarter of 2024, a decrease of less than 1%. Operating income rose 8% to $242.7 million, and U.S. GAAP net earnings were $170.8 million, or $1.76 per diluted share, versus $152.1 million, or $1.49 per diluted share, a year earlier. The company attributed the operating income increase primarily to structural cost removal under its effort to lower cost to serve, improved productivity, and lower purchase transportation costs, partially offset by higher professional-driver wages and benefits and higher equipment-related costs. Segment results were mixed. Intermodal (JBI) operating income rose 12% to $125.0 million on revenue of $1.52 billion, down 2%. Dedicated Contract Services (DCS) revenue grew 2% to $864 million with operating income up 9% to $104.3 million. Final Mile Services (FMS) revenue fell 5% and operating income fell 42% to $6.9 million, while Truckload (JBT) revenue rose 10% to $190 million but operating income declined 9% to $7.4 million. Integrated Capacity Solutions (ICS) posted an operating loss of $0.8 million, improved from a $3.3 million loss, though its gross profit margin fell to 15.0% from 17.9%. Balance-sheet and capital items included approximately $1.60 billion of debt outstanding at September 30, 2025, cash of approximately $52 million, and net capital expenditures of $490.9 million for the nine months. In the third quarter the company repurchased about 1,600,000 shares for approximately $230 million, leaving about $107 million under its repurchase authorization. Shares outstanding were approximately 95.2 million at quarter end, and the company expects a 2025 annual tax rate of approximately 24.5%.

Oct 15, 2025 8-K

Leadership ChangesRegulation FDExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Executive Changes (Aug 22, 2025)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) announced in this Form 8-K, filed August 22, 2025, that its Board of Directors appointed A. Brad Delco as Executive Vice President and Chief Financial Officer, effective September 1, 2025. Delco has served as Senior Vice President of Finance since February 2022, leading corporate financial planning and analysis, investor relations and corporate development, and joined the company in 2019. Before joining, he spent 14 years at Stephens Inc., an investment banking and financial services firm, primarily covering the transportation industry as a lead analyst. John Kuhlow, the current CFO, will continue in an executive capacity as Chief Accounting Officer. The filing sets out Delco's compensation. Effective September 1, 2025, his annual base salary will be $525,000. On that date he will receive restricted share units valued at $1.45 million, with 40% vesting in installments of 40%, 40% and 20% on January 31 of 2026 through 2028, and 60% vesting on March 31, 2028, subject to a three-year ROIC performance measure relative to certain peer companies, with vesting ranging from 0% to 240% of the original performance-based units. He will also receive a promotional award of restricted share units valued at $1 million, vesting in three equal annual installments from 2031 through 2033. His annual bonus target is 100% of base salary, with a potential payout of 25% to 200%. The company states it has not entered into a written employment agreement with him. The company issued a press release on August 21, 2025, announcing the appointment, which is furnished as Exhibit 99.1 under Item 7.01. CEO Shelley Simpson said the change aligns leadership with the company's focus on operational excellence, cost discipline, scaling investments and delivering shareholder value.

Aug 22, 2025 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Jul 15, 2025)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported second quarter 2025 U.S. GAAP net earnings of $128.6 million, or $1.31 per diluted share, compared with $135.9 million, or $1.32 per diluted share, in the second quarter of 2024. Total operating revenue was $2.93 billion, flat year over year. Excluding fuel surcharge revenue, revenue rose 1%. Operating income decreased 4% to $197.3 million from $205.7 million. The company attributed the decline mainly to higher casualty and group medical claims expenses and higher professional driver wages and equipment-related costs, which productivity and cost initiatives only partially offset. The effective tax rate was 26.9%, versus 26.8% a year earlier, and the company continues to expect a 2025 annual tax rate of 24.0% to 25.0%. By segment, Intermodal (JBI) revenue rose 2% to $1.44 billion on a 6% increase in loads, though operating income fell 4% to $95.7 million on lower yields and higher driver wages and claims costs. Dedicated Contract Services (DCS) revenue was flat at $847 million, with operating income down 3% to $93.7 million. Integrated Capacity Solutions (ICS) revenue fell 4% to $260 million, but its operating loss narrowed to $3.6 million from $13.3 million. Final Mile Services (FMS) revenue declined 10% to $211 million, and operating income fell 60% to $8.0 million. Truckload (JBT) revenue rose 5% to $177 million, while operating income decreased 5% to $3.4 million. On capital allocation, the company purchased approximately 2.4 million shares for about $319 million in the quarter and had approximately $335 million remaining under its share repurchase authorization at June 30, 2025. Shares outstanding were approximately 96.8 million. Debt outstanding was approximately $1.72 billion, up from $1.48 billion at June 30, 2024 and December 31, 2024. Net interest expense rose from $20.2 million to $21.3 million in the quarter, and net capital expenditures for the six months ended June 30, 2025 were approximately $399 million, compared with $409 million a year earlier.

Jul 15, 2025 8-K

Shareholder Matters

J.B. Hunt Transport Services 8-K Report, Shareholder Vote Results (Apr 25, 2025)

J.B. Hunt Transport Services, Inc. (JBHT) held its Annual Meeting of Stockholders on April 24, 2025, under a proxy statement dated March 14, 2025, and filed this Current Report under Item 5.07 to disclose the final vote results. Stockholders considered three matters: the election of nine directors to one-year terms, an advisory vote on the compensation of named executive officers, and ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for calendar year 2025. The filing states that no other business came before the meeting or any adjournment. On the director elections, each of the nine nominees received more votes For than Against, with Brett Biggs, Bryan Hunt, Persio Lisboa and Shelley Simpson among those with the highest For counts, and James L. Robo receiving the most Against votes at 8,826,077. The advisory say-on-pay proposal received 85,048,145 For votes against 4,814,285 Against, with 185,676 Abstain and 4,803,550 non-votes. The PwC ratification was the most lopsided of the three, with 94,442,062 For, 220,138 Against and 189,455 Abstain. For investors, this filing is primarily a governance record. It confirms board composition as voted on, shows stockholder support for executive pay, and confirms continuity of the independent auditor for 2025. It does not report financial results or new transactions.

Apr 25, 2025 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Apr 15, 2025)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) furnished an 8-K under Item 2.02 on April 15, 2025, attaching a news release reporting its first quarter 2025 results for the period ended March 31, 2025. Total operating revenue was $2.92 billion, compared with $2.94 billion in the first quarter 2024, a decrease of 1%. Operating income fell 8% to $178.7 million from $194.4 million, and U.S. GAAP net earnings were $117.7 million, or $1.17 per diluted share, versus $127.5 million, or $1.22 per diluted share, a year earlier. The company attributed the revenue decline mainly to lower Dedicated Contract Services truck counts, fewer Final Mile Services stops, fewer Integrated Capacity Solutions loads, and lower Truckload gross revenue per load, partly offset by 5% growth in Intermodal revenue driven by an 8% increase in load volume. By segment, Intermodal revenue rose 5% to $1.47 billion, though its operating income declined 7% to $94.4 million on lower yields and higher wage, insurance and medical costs. Dedicated Contract Services revenue fell 4% to $822 million and operating income fell 14% to $80.3 million. Integrated Capacity Solutions improved its operating loss to $2.7 million from $17.5 million, while Final Mile Services operating income fell 69% to $4.7 million and Truckload operating income rose 66% to $2.0 million. Net interest expense increased about 19%, and the company repurchased approximately 1.4 million shares for about $234 million in the quarter, leaving roughly $650 million under its authorization. Total debt was $1.58 billion at March 31, 2025, up from $1.48 billion at December 31, 2024, and cash was $43 million. Management expects a 2025 annual effective tax rate between 24.0% and 25.0%. The filing indicates that a conference call was held the same day, and that the news release, Exhibit 99.1, is incorporated by reference. Net cash provided by operating activities was $404.2 million, down from $466.5 million, and net capital expenditures were about $225 million versus $166 million a year earlier.

Apr 15, 2025 8-K

Material AgreementsFinancial EventsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Material Agreement (Mar 13, 2025)

On March 11, 2025, J.B. Hunt Transport Services, Inc. entered into an underwriting agreement with Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as representatives of the underwriters, for the issuance and sale of $750 million in aggregate principal amount of its 4.900% Senior Notes due 2030. The offering was registered under a shelf registration statement on Form S-3ASR (File No. 333-270011). On March 13, 2025, the company, its wholly-owned subsidiary J.B. Hunt Transport, Inc. (as guarantor), and Computershare Trust Company, N.A. (successor to Wells Fargo Bank, National Association, as Trustee) entered into a second supplemental indenture to the March 1, 2019 base indenture providing for the notes. The notes are unsecured obligations of the company, rank equally with its existing and future senior debt, and are fully and unconditionally guaranteed on a senior unsecured basis by Transport and any other subsidiary that becomes a borrower or guarantor under the company's revolving credit agreement. Interest is payable semiannually on March 15 and September 15, beginning September 15, 2025, and the notes mature on March 15, 2030. The company may redeem the notes before February 15, 2030 at the redemption price specified in the indenture, and on or after that date at 100% of principal plus accrued unpaid interest. The indenture may limit the company's ability to incur secured debt, engage in sale and leaseback transactions, and merge or consolidate or transfer substantially all assets, and it contains customary events of default. The filing also states that the company is filing certain exhibits related to the offering so they can be incorporated by reference into the registration statement. These include the underwriting agreement, the base and second supplemental indentures, the form of note, and a legality opinion from Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C.

Mar 13, 2025 8-K

Leadership Changes

J.B. Hunt Transport Services 8-K Report, Executive Changes (Jan 29, 2025)

On January 23, 2025, J.B. Hunt Transport Services, Inc.'s Board of Directors, acting through its Executive Compensation Committee and independent directors, approved a new performance-based annual cash incentive program for its named executive officers for calendar year 2025, called the 2025 Company Bonus Plan. The plan ties bonuses to the Company's 2025 revenue excluding fuel surcharge revenue, operating income, and safety performance, with operating income weighted at 70% and revenue excluding fuel surcharge revenue and preventable collisions per million miles driven each weighted at 15%, each measured relative to targeted or projected amounts. Under the plan, John Roberts, as Chairman, and Shelley Simpson, as President and CEO, may each earn a bonus ranging from 37.5% to 300% of annual base salary, with a targeted bonus of 150% of base salary. Other named executive officers may earn 25% to 200% of base salary, with a targeted bonus of 100%. Payouts scale with results between 85% and 115% of the targeted or projected amounts, and no bonus is paid unless at least the threshold is achieved on at least one metric. The filing also sets out payment conditions and governance terms. Officers must remain actively employed through the bonus distribution date, and payments are subject to the Company's clawback policy. The preventable collisions calculation is expected to be finalized on or about January 15, 2026, and the Committee may adjust results to exclude certain items, such as unusual events and changes in laws or accounting principles.

Jan 29, 2025 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Jan 16, 2025)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported U.S. GAAP net earnings of $155.5 million, or $1.53 per diluted share, for the fourth quarter ended December 31, 2024, compared with $153.5 million, or $1.47 per diluted share, in the fourth quarter 2023. Total operating revenue was $3.15 billion, down 5% from $3.30 billion, while operating income rose 2% to $207.0 million. For full year 2024, total operating revenue was $12.09 billion, down from $12.83 billion, and operating income was $831.2 million versus $993.2 million; diluted EPS was $5.56 compared with $6.97. Results were affected by intangible asset impairment charges of $16.0 million in the fourth quarter 2024 and insurance-related charges of $53.4 million in the prior-year quarter. By segment, Intermodal revenue fell 2% to $1.60 billion on a 6% decline in revenue per load, partly offset by a 5% volume increase, and its operating income declined 10% on lower yields. Dedicated Contract Services revenue fell 5% with operating income up 5%. Integrated Capacity Solutions revenue fell 15% on a 22% volume decline, but its operating loss narrowed to $(21.8) million, with gross profit margin rising to 17.3% from 14.0%. Truckload operating income improved to $8.6 million, and Final Mile Services operating income rose 7%. Balance sheet and cash flow items point to lower debt and reduced capital spending. Total debt was $1.48 billion at December 31, 2024, versus $1.58 billion a year earlier. Net capital expenditures for 2024 were approximately $674 million, compared with $1.60 billion in 2023. The company repurchased about 489,000 shares for approximately $86 million in the fourth quarter and had about $882 million remaining under its repurchase authorization. The company expects its 2025 annual tax rate to be between 24.0% and 25.0%.

Jan 16, 2025 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Oct 15, 2024)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported third quarter 2024 U.S. GAAP net earnings of $152.1 million, or $1.49 per diluted share, versus $187.4 million, or $1.80 per diluted share, in the third quarter of 2023. Total operating revenue was $3.07 billion, down 3% from $3.16 billion, and operating income was $224.1 million, down 7% from $241.7 million. The filing attributes the revenue decline mainly to lower gross revenue per load in Intermodal (JBI) and JBT, lower load volume in Integrated Capacity Solutions (ICS) and Dedicated Contract Services (DCS), and fewer stops in Final Mile Services (FMS), partly offset by 5% load growth in JBI. Operating income fell on lower revenue in all segments except JBI, along with higher personnel-related, insurance and claims, and equipment-related expenses. The effective income tax rate was 25.2% versus 18.2% a year earlier, and management expects a 2024 annual tax rate of approximately 24.5%. By segment, Intermodal revenue was flat at $1.56 billion while operating income fell 13% to $111.8 million. Dedicated revenue declined 5% to $846 million and operating income fell 7% to $95.5 million. ICS operating loss narrowed to $3.3 million from $9.4 million as gross profit margin rose to 17.9% from 12.8%, even though segment revenue fell 7% to $278 million. FMS revenue declined 3% to $218 million, and Truckload (JBT) revenue fell 12% to $173 million while its operating income rose 6% to $8.2 million. On the balance sheet and cash flow side, debt outstanding was about $1.53 billion at September 30, 2024, cash and cash equivalents were about $120 million, and nine-month net capital expenditures were about $488 million versus $1.32 billion a year earlier. The company repurchased about 1.2 million shares for approximately $200 million in the quarter and had about $967 million remaining under its share repurchase authorization. Shares outstanding were approximately 100.8 million at September 30, 2024.

Oct 15, 2024 8-K

Regulation FD

J.B. Hunt Transport Services 8-K Report, Regulation FD Disclosure (Aug 19, 2024)

J.B. Hunt Transport Services, Inc. (JBHT) disclosed under Item 7.01 (Regulation FD Disclosure) that on August 16, 2024, its Board of Directors adopted a new share repurchase program authorizing the repurchase of $1 billion of the Company's common stock. The filing states that the timing and amount of repurchases will depend on market conditions, cash flows, securities law limitations and other factors. The program has no stated expiration date and may be suspended or discontinued at any time without prior notice. It will begin only after completion of the Company's existing $500 million repurchase program, which had $163 million remaining available and uncommitted as of June 30, 2024. For investors, the key takeaway is a new $1 billion buyback authorization, with execution sequenced behind the existing program and no commitment to a specific pace or end date.

Aug 19, 2024 8-K

Leadership Changes

J.B. Hunt Transport Services 8-K Report, Executive Changes (Jul 31, 2024)

J.B. Hunt Transport Services, Inc. (JBHT) filed a Current Report on Form 8-K under Item 5.02 to announce the death of director Patrick Ottensmeyer on July 28, 2024. The Company said Mr. Ottensmeyer had joined its Board of Directors earlier in 2024 after a career in the rail industry, during which he was instrumental in shaping the rail industry into what it is today. At the time of his passing, Mr. Ottensmeyer served on the Compensation Committee and the Nominating and Corporate Governance Committee. The filing expresses appreciation for his contributions and extends condolences to his family and friends. It does not disclose any financial results, operating metrics, or new board appointments to fill his vacancy. For investors, this is a governance notice with no direct financial impact. The main open item is the board and committee composition that results from the vacancy, which the filing does not address.

Jul 31, 2024 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Jul 16, 2024)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported U.S. GAAP total operating revenue of $2.93 billion for the second quarter ended June 30, 2024, down 7% from $3.13 billion in the second quarter 2023. Operating income fell 24% to $205.7 million, and net earnings were $135.9 million, or $1.32 per diluted share, versus $189.6 million, or $1.81 per diluted share, a year earlier. The filing attributes the revenue decline mainly to lower load volumes in Integrated Capacity Solutions (25%), Truckload (9%) and Dedicated Contract Services (9%), along with a 5% decrease in gross revenue per load in Intermodal, partially offset by 5% growth in Final Mile Services revenue. Higher insurance and claims, equipment-related and certain personnel-related expenses also weighed on operating income, and net interest expense rose approximately 38%. By segment, Intermodal revenue was $1.41 billion (down 5%) with operating income of $99.2 million (down 31%), and Dedicated revenue was $851 million (down 4%) with operating income of $96.4 million (down 15%). Integrated Capacity Solutions posted an operating loss of $(13.3) million versus $(4.4) million a year earlier, even as its gross profit margin improved to 14.8% from 13.0%. Final Mile Services grew revenue 5% to $235 million with operating income up 33% to $19.8 million, and Truckload revenue fell 12% to $168 million. On the balance sheet and cash flow side, the company had cash and cash equivalents of approximately $54 million and about $1.48 billion of debt outstanding at June 30, 2024. Net cash provided by operating activities for the six months was $827.0 million, versus $1.10 billion a year earlier, and net capital expenditures were $409 million compared with $854 million. In the quarter, J.B. Hunt repurchased approximately 1,225,000 shares for about $203 million, leaving approximately $163 million under its repurchase authorization. The company also said its 2024 annual effective tax rate is expected to be between 24.0% and 25.0%.

Jul 16, 2024 8-K

Shareholder Matters

J.B. Hunt Transport Services 8-K Report, Shareholder Vote Results (Apr 29, 2024)

J.B. Hunt Transport Services, Inc. held its Annual Meeting of Stockholders on April 25, 2024, and this Form 8-K reports the voting results on three proposals included in its proxy dated March 14, 2024. Stockholders voted on the election of directors, an advisory resolution on named executive officer compensation, and ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the 2024 calendar year. The filing states that no other business came before the meeting or any adjournment. All nine director nominees were elected to one-year terms, with each receiving more For votes than Against votes. The nominees were Francesca M. Edwardson, Sharilyn S. Gasaway, Thad (John B., III) Hill, Bryan Hunt, Persio Lisboa, Patrick Ottensmeyer, John N. Roberts, III, James L. Robo, and Shelley Simpson. Support ranged from 87,011,033 For votes for James L. Robo, who had 5,221,994 Against votes, to 91,915,762 For votes for Patrick Ottensmeyer, who had 218,362 Against votes. Stockholders approved the advisory resolution on executive compensation with 88,418,041 For votes, 3,765,242 Against votes, 94,698 Abstain votes, and 4,128,837 Non Votes. Stockholders also ratified PricewaterhouseCoopers LLP with 96,077,100 For votes, 65,856 Against votes, and 263,861 Abstain votes.

Apr 29, 2024 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Apr 16, 2024)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported first quarter 2024 U.S. GAAP net earnings of $127.5 million, or $1.22 per diluted share, versus net earnings of $197.8 million, or $1.89 per diluted share, in the first quarter of 2023. Total operating revenue was $2.94 billion, down 9% from $3.23 billion, and operating income fell 30% to $194.4 million from $277.5 million. The filing attributes the revenue decline mainly to a 9% decrease in segment gross revenue per load in Intermodal (JBI) and Truckload (JBT), 22% fewer loads in Integrated Capacity Solutions (ICS), and a modest decline in average trucks and productivity in Dedicated Contract Services (DCS). Final Mile Services (FMS) revenue grew 2%. The effective income tax rate rose to 28.7% from 24.7%, and the company continues to expect a 2024 annual tax rate of 24.0% to 25.0%. Segment results were mixed. Intermodal operating income fell 40% to $101.9 million on lower yields, and ICS posted an operating loss of $(17.5) million versus $(5.4) million a year earlier, as an $11.0 million decrease in gross profit and integration costs related to the purchase of BNSF Logistics brokerage assets weighed on results. DCS operating income declined 9% to $93.6 million, while FMS operating income rose 128% to $15.1 million, aided by a $3.1 million benefit from a prior period claim settlement. Truckload operating income dropped 75% to $1.2 million. Balance sheet and capital allocation metrics improved during the quarter. Total debt outstanding was $1.37 billion at March 31, 2024, down from $1.58 billion at December 31, 2023. Net capital expenditures were about $166 million, compared with $380 million in the first quarter of 2023. The company repurchased approximately 126,000 shares for about $25 million and had approximately $366 million remaining under its share repurchase authorization. Cash and cash equivalents were $64 million at quarter end.

Apr 16, 2024 8-K

Leadership ChangesRegulation FDExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Executive Changes (Feb 29, 2024)

On February 28, 2024, the Board of J.B. Hunt Transport Services, Inc. made a leadership succession change. Shelley Simpson, the Company's President since August 1, 2022, was appointed Chief Executive Officer effective July 1, 2024, and was nominated for election to the Board at the April 2024 annual meeting. John N. Roberts, III will retire as CEO effective July 1, 2024, and will serve as executive Chairman of the Board, taking over the Chairman role upon Kirk Thompson's retirement from the Board. The filing describes the changes as part of the Company's succession planning and Board development. Thompson, executive Chairman, and Wayne Garrison, a director and former Chairman, will retire from the Board at the end of their current terms at the April 2024 annual meeting. Both will become newly created, non-voting Honorary Founding Directors, an advisory role that is an employee capacity reporting to the Chairman. They will provide strategic counsel and, upon Board invitation, attend Board and committee meetings excluding executive sessions, but cannot vote or count toward a quorum. The filing states that Pat Ottensmeyer joined the Board as an independent director in January 2024, and that the retirements allow additional independent directors to join the Board in the future. Compensation changes are also disclosed. Effective July 1, 2024, Simpson's annual base salary will be $900,000 and Roberts's will be $826,400. Simpson will receive performance-based restricted share units covering 9,634 shares and a promotional restricted share unit award valued at $5 million that vests in three equal annual installments beginning July 1, 2031. The Company has not entered into written employment agreements with either executive.

Feb 29, 2024 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Jan 18, 2024)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported fourth-quarter 2023 revenue of $3.30 billion, down 9%, with operating income of $203.3 million, down 28%, and diluted EPS of $1.47 versus $1.92 a year earlier. Net earnings were $153.5 million versus $201.3 million. Full-year 2023 revenue was $12.83 billion, down 13%, operating income was $993 million, down 25%, and diluted EPS was $6.97 versus $9.21, down 24%. The filing states that the company furnished its news release under Item 2.02 as Exhibit 99.1. Fourth-quarter operating income was hit by pre-tax insurance-related charges of $53.4 million, compared with $64.0 million in the prior-year quarter. The company cited yield pressure in Intermodal, Integrated Capacity Solutions and Truckload, higher equipment-related costs, and increased insurance and claims expense. Segment results were mixed. Intermodal volume rose 6%, but revenue fell 7% and segment operating income fell 28%. Dedicated Contract Services revenue fell 3%, while its operating income rose 8% to $86.1 million. Integrated Capacity Solutions revenue fell 25% and posted an operating loss of $(24.9) million, with gross profit margin at 14.0% versus 15.6%. Final Mile Services revenue fell 9%, and Truckload revenue fell 19% with a break-even operating result of $(39) thousand. On the balance sheet, total debt at December 31, 2023 was $1.58 billion, up from $1.26 billion a year earlier, and cash was $53 million. Net capital expenditures for 2023 were $1.60 billion, versus $1.43 billion in 2022. The company repurchased approximately 137,000 shares for about $25 million in the fourth quarter and had about $392 million remaining under its repurchase authorization. It expects a 2024 annual tax rate of 24.0% to 25.0%.

Jan 18, 2024 8-K

Leadership ChangesRegulation FDExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Executive Changes (Jan 17, 2024)

J.B. Hunt Transport Services, Inc. (JBHT) filed this Form 8-K to report two related board events. Under Item 5.02, on January 12, 2024, the Board increased its size to ten directors under the Bylaws and elected Patrick J. Ottensmeyer to the Board. He was also appointed to the Compensation Committee and the Nominating and Corporate Governance Committee. Under Item 7.01, the company furnished a news release dated January 16, 2024 announcing the election; this release is attached as Exhibit 99.1 and is furnished rather than filed. The release describes Mr. Ottensmeyer's background as more than 17 years of rail industry experience, including serving as president and CEO of Kansas City Southern from 2015 to 2023, until the merger creating Canadian Pacific Kansas City in 2023. It also notes prior roles as KCS executive vice president of sales and marketing and as executive vice president and Chief Financial Officer, along with leadership of the U.S. Chamber of Commerce's U.S.-Mexico Economic Council. The company describes him as the third new board member since 2021, following Persio Lisboa and Thad Hill. For investors, the filing is a governance update rather than a financial disclosure. It reports no financial results, guidance, or compensation terms for the new director. The release states the company's board diversity approach and points to investor.jbhunt.com for more governance information.

Jan 17, 2024 8-K

Corporate ChangesExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Bylaw Amendment (Oct 24, 2023)

On October 19, 2023, the Board of Directors of J.B. Hunt Transport Services, Inc. approved and adopted Amendment No. 3 to the Company's Second Amended and Restated Bylaws, effective immediately, to add proxy access provisions. The amendment adds a new Section 2.14 to Article II of the Bylaws, under which a stockholder, or a group of up to 20 stockholders, owning at least 3% of the Company's outstanding common stock continuously for at least three years may nominate and include director nominees in the Company's proxy materials. The number of nominees is capped at the greater of two nominees or 20% of the Board then in office. The proxy access rights are subject to conditions and other requirements that stockholders and director nominees must satisfy, as specified in the Bylaws. The filing states that the full text of Amendment No. 3 is attached as Exhibit 3.1 and incorporated by reference, and it does not include any financial results or other financial figures. For investors, the principal change is a governance update that gives long-term significant stockholders a defined route to place director candidates on the company's proxy ballot. The filing does not describe any shareholder activity or board changes that prompted the amendment.

Oct 24, 2023 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Oct 17, 2023)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported third quarter 2023 U.S. GAAP net earnings of $187.4 million, or $1.80 per diluted share, compared with $269.4 million, or $2.57 per diluted share, in the third quarter of 2022. Total operating revenue was $3.16 billion, down 18% year over year, and operating income fell 33% to $241.7 million. The filing attributes the decline to lower revenue across all segments, higher equipment-related costs, and higher insurance and claims expense, with an $8 million net loss on equipment sales also weighing on results. Revenue excluding fuel surcharge decreased 15%, driven by lower revenue per load in Intermodal and Truckload and a 38% drop in Integrated Capacity Solutions volume. Segment results were mixed. Intermodal (JBI) revenue fell 15% to $1.56 billion and operating income fell 41% to $128.0 million. Dedicated Contract Services (DCS) was the most resilient, with revenue down 4% to $892 million and operating income down 4% to $102.4 million. Integrated Capacity Solutions (ICS) swung to an operating loss of $(9.4) million from income of $13.4 million a year earlier, as revenue declined 48% and gross profit margin fell to 12.8% from 14.2%. Final Mile Services (FMS) operating income rose 33% to $13.0 million despite a 15% revenue decline, and Truckload (JBT) operating income fell 48% to $7.7 million. On the balance sheet and cash flow side, total debt was $1.4 billion at September 30, 2023, net capital expenditures for the nine months were approximately $1.3 billion, and cash was approximately $75 million. The company repurchased about 267,000 shares for approximately $51 million in the quarter and had about $416 million remaining under its repurchase authorization. The filing also notes the BNSF Logistics brokerage acquisition, which closed September 30, 2023 and will be reflected in ICS beginning in the fourth quarter, and that the 2023 annual effective tax rate is expected to be between 22.0% and 23.0%.

Oct 17, 2023 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Jul 18, 2023)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) furnished this Item 2.02 Current Report on July 18, 2023 to announce its results for the second quarter ended June 30, 2023, as set out in Exhibit 99.1. Total operating revenue was $3.13 billion, down 18% from $3.84 billion in the second quarter of 2022. Operating income fell 23% to $270.7 million, and U.S. GAAP net earnings were $189.6 million, or $1.81 per diluted share, versus $255.3 million, or $2.42 per diluted share, a year earlier. The filing attributes the revenue decline mainly to lower revenue per load and volume in Integrated Capacity Solutions (ICS) and Intermodal (JBI), along with a 4% productivity decline in Dedicated Capacity Solutions (DCS), partly offset by a 6% increase in Truckload (JBT) volume. Segment results were mixed. Dedicated operating income rose 21% to $113.6 million, while ICS swung to an operating loss of $4.4 million from operating income of $23.2 million a year earlier. Intermodal operating income fell 29% to $142.9 million, Truckload operating income fell 81% to $3.8 million, and Final Mile Services operating income rose 12% to $14.8 million. Net interest expense rose approximately 14% on higher effective interest rates, and the effective tax rate was 26.0%, with the company continuing to expect a 2023 annual rate of 24.0% to 25.0%. On the balance sheet, cash and cash equivalents were approximately $296 million at June 30, 2023, and debt was approximately $1.4 billion. Net capital expenditures for the six months ended June 30, 2023 were approximately $854 million, versus $598 million a year earlier. The company repurchased about 315,000 shares for approximately $53 million in the quarter and had approximately $467 million remaining under its repurchase authorization.

Jul 18, 2023 8-K/A

Shareholder Matters

J.B. Hunt Transport Services 8-K/A Report, Shareholder Vote Results (May 3, 2023)

J.B. Hunt Transport Services, Inc. filed this Form 8-K/A to amend its Form 8-K filed April 28, 2023, and to supplement Item 5.07 with the company's decision on how often it will hold stockholder advisory votes on named executive officer compensation. Based on the frequency vote at the April 27, 2023 Annual Meeting of Stockholders, the company will hold these say-on-pay votes every year until the next frequency vote, which will occur no later than its 2029 Annual Meeting. The amendment states that all other disclosures in the original report are unchanged. At the meeting, stockholders cast 90,315,467 votes for a one-year frequency, compared with 27,493 for two years, 1,638,731 for three years, and 63,058 abstentions. The advisory say-on-pay resolution received 89,564,024 For votes, 2,410,296 Against, and 70,429 Abstain. The filing also reports 4,300,522 broker non-votes on the compensation and frequency items. Stockholders also voted on the election of nine directors, each for a one-year term, with individual For, Against, and Abstain tallies reported for each nominee. Stockholders ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for calendar year 2023, with 95,976,483 For votes, 30,591 Against, and 338,196 Abstain.

May 3, 2023 8-K

Shareholder Matters

J.B. Hunt Transport Services 8-K Report, Shareholder Vote Results (Apr 28, 2023)

J.B. Hunt Transport Services, Inc. held its Annual Meeting of Stockholders on April 27, 2023, with proxies solicited under Regulation 14A. The filing reports final vote tabulations on four matters that were included in the company's proxy dated March 16, 2023. No other business came before the meeting or any adjournment. Stockholders elected all nine director nominees to one-year terms: Francesca M. Edwardson, Wayne Garrison, Sharilyn S. Gasaway, Thad (John B. III) Hill, Bryan Hunt, Persio Lisboa, John N. Roberts, III, James L. Robo, and Kirk Thompson. Support varied by nominee. Bryan Hunt received 83,199,644 votes for and 8,756,384 against, and James L. Robo received 81,251,029 votes for and 10,753,442 against. Persio Lisboa received the most votes for, at 91,033,594, against 886,883 against. On the advisory say-on-pay proposal, stockholders voted 89,564,024 for, 2,410,296 against, and 70,429 abstaining. On the frequency of future advisory compensation votes, 90,315,467 votes favored every year, 1,638,731 favored every three years, 27,493 favored every two years, and 63,058 abstained. Stockholders also ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for calendar year 2023, with 95,976,483 votes for, 30,591 against, and 338,196 abstaining.

Apr 28, 2023 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Apr 17, 2023)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) furnished this Form 8-K under Item 2.02 to report its first quarter 2023 results, which were announced in a news release dated April 17, 2023 and attached as Exhibit 99.1. Total operating revenue was $3.23 billion, down 7% from $3.49 billion in the first quarter of 2022, and operating income was $277.5 million, down 17%. U.S. GAAP net earnings were $197.8 million, or $1.89 per diluted share, versus $243.3 million, or $2.29 per share, a year earlier. The company attributed the revenue decline mainly to volume declines in Integrated Capacity Solutions (25%), Intermodal (5%) and Final Mile Services (17%), along with a 17% decline in revenue per load in Truckload. Dedicated Contract Services was the main bright spot, with revenue up 13%. Operating income fell primarily due to lower volumes and pressure on rate and cost recovery across ICS, JBI and JBT, along with higher driver and non-driver wages, insurance-related costs, and equipment and maintenance expenses. Net interest expense rose approximately 18% on higher effective interest rates. The effective tax rate was 24.7%, and the company continues to expect a 2023 annual rate between 24.0% and 25.0%. On the balance sheet, total debt was $1.24 billion at March 31, 2023, comparable to December 31, 2022, and cash was $53 million. Net capital expenditures were about $380 million, up from $289 million a year earlier. The company repurchased about 183,000 shares for approximately $31 million in the quarter and had about $520 million remaining under its repurchase authorization.

Apr 17, 2023 8-K

Leadership Changes

J.B. Hunt Transport Services 8-K Report, Executive Changes (Feb 9, 2023)

J.B. Hunt Transport Services, Inc. (JBHT) filed this Form 8-K on February 9, 2023 under Item 5.02, which covers departures of directors and certain officers. The filing reports that Gale V. King, a member of the Board of Directors since 2020, notified the company on February 6, 2023 that she does not intend to stand for re-election at the 2023 Annual Meeting of Stockholders. According to the filing, Ms. King's decision is due to personal reasons and not to any disagreement with the Company. She will continue serving as a director and on her committees through the 2023 Annual Meeting. The company thanked her for her service. The filing contains no financial results, operating metrics, or guidance. Its significance for investors is limited to a planned change in board composition at the upcoming annual meeting.

Feb 9, 2023 8-K

Leadership ChangesCorporate ChangesExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Executive Changes (Jan 24, 2023)

J.B. Hunt Transport Services, Inc. filed this Current Report on Form 8-K to disclose compensation actions and a bylaw amendment approved by its Board of Directors on January 18 and 19, 2023. The Board approved base salaries for the named executive officers: John N. Roberts III (CEO) at $1,000,000, John Kuhlow (CFO, EVP) at $525,000, Shelley Simpson (President) at $800,000, Nicholas Hobbs (COO, President of Contract Services, EVP) at $675,000, Darren Field (President of Intermodal, EVP) at $575,000, and Kirk Thompson (Chairman of the Board) at $446,250. The base salaries are effective January 30, 2023, according to the exhibit. The Board also approved a new performance-based annual cash incentive program, the 2023 Company Bonus Plan, tied to calendar year 2023 reported operating income relative to budgeted operating income. For Roberts and Simpson, the bonus ranges from 15% to 185% of base salary, with a target of 105%. For the other named executive officers, the range is 15% to 160%, with a target of 80%. No bonus is paid unless operating income reaches at least 85% of budget, and the maximum is paid at 115% of budget. Thompson, as Chairman, is not eligible to participate in the plan. Separately, on January 19, 2023, the Board adopted Amendment No. 2 to the Second Amended and Restated Bylaws, effective immediately. The amendment updates the advance notice provisions for shareholder director nominations and proposals, including requirements tied to Rule 14a-19 under the Exchange Act, treatment of nominees when a shareholder fails to comply with that rule, and the color of proxy cards reserved for the Company.

Jan 24, 2023 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Jan 18, 2023)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported fourth-quarter 2022 total operating revenue of $3.65 billion, up 4% from the prior year, but operating income fell 13% to $281.9 million and diluted earnings per share declined 16% to $1.92 from $2.28. The filing attributes the earnings pressure in part to a $64 million pre-tax increase in casualty claim expense, along with a 27% decline in volume in Integrated Capacity Solutions (ICS) and higher investments in drivers, office personnel and maintenance technicians. Revenue excluding fuel surcharge decreased approximately 3% in the quarter, while fuel surcharge revenue rose to $632.3 million from $390.5 million. For the full year 2022, total operating revenue reached $14.81 billion, up 22%, operating income was $1.33 billion, up 27%, and diluted EPS was $9.21 compared with $7.14, up 29%. Dedicated Contract Services (DCS) revenue rose 24% in the quarter, while ICS operating income turned to a loss of $(2.9) million from $21.2 million a year earlier. Intermodal (JBI) revenue grew 11%, but its operating income declined 8%. Balance sheet and capital items in the filing include total debt of $1.3 billion at December 31, 2022, cash and cash equivalents of $52 million, and net capital expenditures of approximately $1.4 billion for 2022 versus $877 million in 2021. The company made no stock repurchases in the fourth quarter and had approximately $551 million remaining under its share repurchase authorization. For 2023, management expects an annual effective tax rate between 24.0% and 25.0%.

Jan 18, 2023 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Oct 18, 2022)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) furnished a news release dated October 18, 2022, announcing its U.S. GAAP results for the third quarter ended September 30, 2022. Total operating revenue was $3.84 billion, up 22% from $3.14 billion, and revenue excluding fuel surcharge increased 12%. Operating income rose to $362.2 million from $273.8 million, up 32%, and net earnings were $269.4 million, or $2.57 per diluted share, versus $199.8 million, or $1.88 per diluted share, a year earlier. For the nine months ended September 30, 2022, diluted EPS was $7.28 versus $4.86. Growth was led by Intermodal (revenue up 30% to $1.84 billion) and Dedicated Contract Services (revenue up 34% to $894 million). Integrated Capacity Solutions revenue fell 11% to $591 million, although its gross profit margin improved to 14.3% from 12.0%. Management cited higher rail purchased transportation costs, driver and personnel investments, and equipment and maintenance expense as offsets to operating income gains. The company expects a 2022 annual tax rate between 23.5% and 24.0%. On the balance sheet, cash and cash equivalents were approximately $84 million and total debt outstanding was $1.2 billion at September 30, 2022. Net capital expenditures for the nine months were approximately $1.0 billion, compared with $511 million a year earlier. The company repurchased about 349,000 shares for approximately $61 million in the quarter, leaving about $551 million under its repurchase authorization, and had about 103.5 million shares outstanding.

Oct 18, 2022 8-K

Material AgreementsFinancial EventsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Material Agreement (Oct 3, 2022)

On September 27, 2022, J.B. Hunt Transport, Inc. (borrower) and parent guarantor J.B. Hunt Transport Services, Inc. entered into a $1.5 billion Amended and Restated Credit Agreement with Bank of America, N.A. as administrative agent. The facility supersedes the company's $750 million Credit Agreement dated September 25, 2018, and is described in this Item 2.03 disclosure, with the full agreement filed as Exhibit 10.1. The new facility includes a $1.0 billion five-year revolving line of credit expiring September 27, 2027. The borrower may request a commitment increase of up to $300 million, which would bring the revolver to $1.3 billion, and may also request two one-year maturity extensions, which would push the expiration to September 27, 2029. In addition, lenders have committed to fund up to $500 million of term loans on the borrower's request during the nine-month period beginning September 27, 2022; any such term loans would mature on September 27, 2025. Borrowings bear interest based on SOFR or a Base Rate plus an applicable margin and other fees. The agreement requires the company to maintain certain covenants and financial ratios and contains customary default provisions, including a right to accelerate outstanding obligations. Proceeds may be used for equipment purchases, repurchases of common stock, refinancing existing senior debt, and other working capital purposes.

Oct 3, 2022 8-K

Leadership ChangesCorporate ChangesRegulation FD+1

J.B. Hunt Transport Services 8-K Report, Executive Changes (Jul 26, 2022)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) announced on July 20, 2022 that its Board of Directors appointed Shelley Simpson as President of the Company effective August 1, 2022, while John N. Roberts, III remains Chief Executive Officer. Simpson, 50, previously served as Chief Commercial Officer since 2017 and Executive Vice President of People and Human Resources since November 2020, and has been with the company since 1994. Her annual base salary will increase to $725,000, and she was awarded performance-based restricted share units valued at $5 million that vest in equal annual installments over 10 years, subject to predetermined annual operating income targets. Her eligible PGI bonus will rise to 75% to 125% of base salary effective August 1, 2022, matching Mr. Roberts' PGI bonus range. The filing states the company has not entered into any written employment agreement with Simpson. Separately, the Board approved Amendment No. 1 to the Second Amended and Restated Bylaws, effective immediately, which provides that the Chief Executive Officer shall be a member of the Board of Directors rather than the President. The company also announced on July 21, 2022 that its Board adopted a new share repurchase program authorizing the repurchase of an additional $500 million of common stock, with timing and amounts dependent on market conditions, cash flows and other factors, and the program may be suspended, extended or discontinued at any time. According to the filing's exhibits, the executive changes were also described in a news release noting that Brad Hicks will continue as President of Highway Services and take on additional responsibilities as Executive Vice President of People, and Spencer Frazier will become Executive Vice President of Sales and Marketing.

Jul 26, 2022 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Jul 19, 2022)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported U.S. GAAP total operating revenue of $3.84 billion for the second quarter ended June 30, 2022, up 32% from $2.91 billion a year earlier. Net earnings were $255.3 million, or $2.42 per diluted share, versus $172.2 million, or $1.61 per diluted share, in the second quarter of 2021. Operating income rose to $353.1 million from $241.5 million, and the company cited higher volumes, customer rate, cost-recovery efforts, and scaling of people and technology investments, partly offset by wage and benefit increases, rail and truck purchased transportation costs, container utilization inefficiencies, and a net $18.4 million pre-tax insurance-related expense. All five reportable segments contributed to revenue growth. Intermodal (JBI) revenue rose 42% to $1.83 billion on an 8% volume increase and a 32% increase in revenue per load, while Dedicated Contract Services (DCS) revenue grew 39% to $863 million. Truckload (JBT) revenue grew 46% to $269 million and Final Mile Services (FMS) grew 21% to $257 million, including the Zenith Freight Lines acquisition. Integrated Capacity Solutions (ICS) revenue increased 3% to $623 million, with gross profit margin of 16.2% versus 10.5% a year earlier. On the balance sheet, cash and cash equivalents were approximately $124 million at June 30, 2022, and debt was approximately $1.3 billion. Net capital expenditures for the six months ended June 30, 2022 were approximately $598 million, versus $261 million a year earlier. In the quarter the company repurchased about 979,000 shares for approximately $164 million, leaving about $112 million under its repurchase authorization. The company now expects its 2022 annual effective tax rate to be between 23.5% and 24.5%.

Jul 19, 2022 8-K

Shareholder Matters

J.B. Hunt Transport Services 8-K Report, Shareholder Vote Results (Apr 29, 2022)

J.B. Hunt Transport Services, Inc. filed this Current Report under Item 5.07 to disclose the results of its Annual Meeting of Stockholders, held April 28, 2022. Stockholders voted on three proposals included in the proxy statement dated March 24, 2022: the election of eleven directors to one-year terms, an advisory resolution on executive compensation, and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for calendar year 2022. The filing states that no other business came before the meeting or any adjournment. All eleven director nominees were elected, with each receiving more votes for than against. Douglas G. Duncan, Francesca M. Edwardson, Wayne Garrison, Sharilyn S. Gasaway, Gary C. George, Thad Hill, J. Bryan Hunt, Jr., Gale V. King, John N. Roberts, III, James L. Robo, and Kirk Thompson were each shown as elected. Support levels varied, with J. Bryan Hunt, Jr. recording the most against votes at 9,771,626, and James L. Robo at 9,165,198. Each nominee also received 5,052,758 non-votes. Stockholders approved the advisory resolution on named executive officer compensation, with 91,417,950 votes for and 2,989,504 against, plus 95,699 abstentions and 5,052,758 non-votes. The appointment of PricewaterhouseCoopers LLP was ratified with 99,253,049 votes for, 63,255 against, and 239,608 abstentions, with no broker non-votes reported.

Apr 29, 2022 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Apr 18, 2022)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported U.S. GAAP total operating revenue of $3.49 billion for the first quarter ended March 31, 2022, up from $2.62 billion in the first quarter 2021. Net earnings were $243.3 million, or $2.29 per diluted share, compared with $146.6 million, or $1.37 per diluted share, a year earlier. Operating income rose to $334.3 million from $207.7 million, and the release attributes the increase mainly to higher volumes, customer rate and cost recovery efforts, and about $18 million of higher gains on equipment sales, partly offset by higher purchased transportation, wages and benefits, and implementation costs. All five operating segments grew revenue. Intermodal revenue was $1.60 billion, up 36%, with operating income of $201.0 million, up 87%. Integrated Capacity Solutions revenue was $675 million, up 29%, and operating income was $25.0 million. Truckload revenue was $264 million, up 77%, with operating income of $31.5 million. Dedicated Contract Services revenue was $741 million, up 28%, with operating income of $77.1 million, up 4%. Final Mile Services revenue was $218 million, up 8%, but the segment swung to an operating loss of $0.2 million, versus operating income of $8.5 million a year earlier. On the balance sheet, total debt was $1.30 billion, comparable to year-end 2021. Net capital expenditures were $289 million, versus $86 million in the prior-year quarter, and cash and cash equivalents were $145 million. The company repurchased about 382,000 shares for approximately $75 million and had about $276 million remaining under its share repurchase authorization. The filing also states an effective tax rate of 24.4% and an expected 2022 annual tax rate between 24.0% and 25.0%. The earnings release was furnished under Item 2.02 and is not deemed filed for Section 18 purposes.

Apr 18, 2022 8-K

Leadership ChangesExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Executive Changes (Jan 24, 2022)

J.B. Hunt Transport Services, Inc. (JBHT) filed this Form 8-K on January 24, 2022 to disclose compensation arrangements for its named executive officers and Chairman of the Board. On January 19 and 20, 2022, the Board of Directors, acting through its Executive Compensation Committee or its independent directors as applicable, approved new base salaries for the company's executives. John N. Roberts III, President and CEO, received a base salary of $980,000, the highest in the group. John Kuhlow (CFO, EVP) received $475,000; Shelley Simpson (CCO, EVP People and Human Resources) and Nicholas Hobbs (COO, President of Contract Services, EVP) each received $625,000; Darren Field (President of Intermodal, EVP) received $525,000; and Kirk Thompson, Chairman of the Board, received $425,000. The filing states that all base salaries are effective January 31, 2022. Exhibit 99.1, a summary of compensation arrangements with the named executive officers and Chairman, describes the variable pay structure for 2022. Under the 2022 Company Bonus Plan, tied to calendar 2022 operating income, executives may earn a bonus of zero to 60% of base salary. Under the 2022 Performance Growth Incentive (PGI) Bonus Plan, tied to calendar 2022 net revenue and earnings before taxes, Mr. Roberts may earn zero to 125% of base salary, and each other named executive officer may earn zero to 100%. Mr. Thompson is not eligible for either bonus plan. The exhibit also notes a 401(k) plan with company matching contributions, expected to pay approximately $9,000 per named executive officer during 2022. Perquisites are disclosed annually in the proxy statement, and Management Incentive Plan awards are excluded from the figures reported here. For investors, the filing is a compensation disclosure rather than a financial performance report. It sets out executive pay levels and the performance metrics, operating income for the company bonus and net revenue and pre-tax earnings for the PGI plan, that link executive compensation to 2022 results.

Jan 24, 2022 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Jan 18, 2022)

J.B. Hunt Transport Services, Inc. reported fourth quarter 2021 total operating revenue of $3.50 billion, up 28%, with operating income of $322.5 million, up 55%, and diluted earnings per share of $2.28 versus $1.44 a year earlier. Net income for the quarter was $242.2 million, compared with $154.0 million in the fourth quarter of 2020. For the full year 2021, revenue was $12.17 billion, up 26%, operating income was $1.05 billion, up 47%, and diluted EPS was $7.14 versus $4.74, up 51%. The company attributed the operating income gains mainly to customer rate and cost recovery efforts and scaling of its technology investments, partly offset by rising driver wages and recruiting costs, insurance expense, and network fluidity challenges in Intermodal. All segments contributed to revenue growth. Truckload (JBT) revenue rose 85% and its operating income rose 210%, reflecting a larger trailer and tractor base, as well as expansion of the J.B. Hunt 360box service. Intermodal revenue rose 26% on a 30% increase in revenue per load despite a 3% decline in volume, and its operating income rose 76%. Dedicated Contract Services (DCS) operating income declined 6% despite 25% revenue growth, while Final Mile Services (FMS) operating income excluding a $5.7 million contingent liability benefit declined 68%. Balance sheet and capital allocation metrics were stable. Total debt was $1.3 billion, comparable to prior periods, and cash and cash equivalents were $356 million at year end. Net capital expenditures for 2021 were $877 million, versus $601 million in 2020. The company repurchased about 76,000 shares for about $15 million in the fourth quarter and had about $351 million remaining under its repurchase authorization. Management expects a 2022 annual tax rate of 24.0% to 25.0%.

Jan 18, 2022 8-K

Corporate ChangesExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Bylaw Amendment (Oct 27, 2021)

J.B. Hunt Transport Services, Inc. (JBHT) filed a Current Report on Form 8-K on October 27, 2021 to disclose the adoption of Second Amended and Restated Bylaws. The Board of Directors approved and adopted the Bylaws on October 21, 2021, effective immediately. The Bylaws amend and restate the Company's Amended and Restated Bylaws adopted on April 23, 2015. The revised Bylaws make a range of governance changes. They allow shareholder meetings to be held by remote communication to the extent permitted by Arkansas law, and they add advance notice procedures requiring shareholders to submit notice not less than 90 nor more than 120 days before a meeting for proposals or director nominees made outside the proxy materials. They also clarify the majority voting standard for director elections, remove the director age limit (which remains in the Corporate Governance Guidelines), and allow for separate Chief Executive Officer and President positions. Other changes update indemnification provisions for directors and officers, including required advancement of expenses subject to certain conditions, permit electronic signatures and transmission of certain corporate documents, and make general updates to conform to Arkansas law and common practice. The filing also lists the Bylaws as Exhibit 3.1 and includes the Inline XBRL cover page as Exhibit 104.

Oct 27, 2021 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Oct 15, 2021)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) furnished this Item 2.02 Form 8-K on October 15, 2021 to report third-quarter 2021 results, with the full news release attached as Exhibit 99.1. Total operating revenue rose 27% to $3.14 billion, and operating income rose to $273.8 million from $175.5 million, with net earnings of $199.8 million and diluted EPS of $1.88 versus $1.18 a year earlier. Growth was broad-based: all segments posted double-digit revenue gains, with Truckload revenue up 87% and Integrated Capacity Solutions up 55%, while Intermodal volumes fell 6% amid rail restrictions and labor shortages, offset by a 24% increase in revenue per load. For the nine months ended September 30, 2021, net earnings were $518.6 million and diluted EPS was $4.86, compared with $3.30 in the prior-year period. The company reported $1.3 billion of outstanding debt, cash and cash equivalents of about $530 million, and nine-month net capital expenditures of approximately $511 million. It repurchased about 286,000 shares for roughly $50 million in the quarter and had about $366 million remaining under its share repurchase authorization. The filing states that the effective tax rate for the quarter was 23.7%, and management expects the 2021 annual tax rate to be between 23.5% and 24.0%. Management attributed Intermodal's volume weakness to rail network restrictions and elevated detention of trailing equipment, and cited industry labor shortages as a core constraint on supply-chain fluidity.

Oct 15, 2021 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Jul 19, 2021)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported second quarter 2021 results in a news release furnished as Exhibit 99.1 to this Form 8-K. Total operating revenue was $2.91 billion, up 36% from $2.15 billion a year earlier. Operating income was $241.5 million, up from $175.2 million, and diluted EPS was $1.61 versus $1.14. Net earnings were $172.2 million, compared with $121.7 million in the second quarter of 2020. All five segments reported at least double-digit revenue growth, with Integrated Capacity Solutions (ICS) revenue up 100% and Truck (JBT) revenue up 70%, as the company sourced capacity for customers in a capacity-constrained freight market. Intermodal (JBI) revenue grew 21% on a 6% increase in volume, but management noted that rail network restrictions and record customer detention of trailing equipment pressured volumes. Dedicated Contract Services (DCS) operating income declined 5% to $79.0 million despite 17% revenue growth, as driver wage, recruiting and implementation costs for new long-term contracts offset productivity gains. The company also stated that its 2021 annual effective tax rate is now expected to be between 23.5% and 24.5%. At June 30, 2021, debt was approximately $1.3 billion, cash and cash equivalents were approximately $571 million, and roughly $416 million remained under the share repurchase authorization after repurchasing about 484,000 shares for approximately $81 million in the quarter. For the six months ended June 30, 2021, net earnings were $318.8 million and diluted EPS was $2.98, compared with $2.12 a year earlier.

Jul 19, 2021 8-K

Financial EventsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Auditor Change (Jun 28, 2021)

J.B. Hunt Transport Services, Inc. (JBHT) filed this Current Report on Form 8-K to disclose a change in its independent registered public accounting firm. On June 22, 2021, following a competitive request for proposals process, the Audit Committee of the Board of Directors approved the engagement of PricewaterhouseCoopers LLP (PwC) as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2021, subject to PwC's standard client acceptance process and execution of an engagement letter. The Audit Committee also dismissed Ernst & Young LLP (EY) as the Company's independent registered public accounting firm. The filing states that EY's reports on the Company's consolidated financial statements for fiscal years 2020 and 2019 contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. The Company reports no disagreements with EY on accounting principles, financial statement disclosure, or auditing scope or procedure during 2020, 2019 and the interim period through June 22, 2021, and no "reportable events" as defined in Regulation S-K. Neither the Company nor anyone acting on its behalf consulted PwC on accounting or auditing matters during that period. EY's letter to the SEC, dated June 28, 2021, is filed as Exhibit 16.1. For investors, this is a routine auditor transition disclosed under Item 4.01, with no reported disagreements or reportable events.

Jun 28, 2021 8-K

Shareholder Matters

J.B. Hunt Transport Services 8-K Report, Shareholder Vote Results (Apr 22, 2021)

J.B. Hunt Transport Services, Inc. held its Annual Meeting of Stockholders on April 22, 2021, with proxies solicited under Regulation 14A. Three matters, all included in the company's proxy dated March 18, 2021, were put to a vote: the election of eleven directors for one-year terms, an advisory resolution on named executive officer compensation, and the ratification of Ernst & Young LLP as the independent registered public accounting firm for calendar year 2021. The filing states that no other business came before the meeting or any adjournment. All three proposals drew more For votes than Against votes. On director elections, For votes ranged from 76,567,618 (James L. Robo) to 91,882,681 (Thad Hill), while Against votes ranged from 833,210 (Thad Hill) to 15,120,161 (James L. Robo). On the advisory compensation proposal, 89,854,076 shares voted For and 2,971,683 voted Against, with 67,209 abstentions. The auditor ratification received 95,903,270 For votes, 1,081,210 Against, and 31,481 abstentions. For the director and compensation items, the filing reports 4,122,993 non-votes. The filing reports no non-votes on the auditor ratification. These results reflect stockholder voting outcomes only and contain no financial results, guidance, or other operating information.

Apr 22, 2021 8-K

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Financial Results (Apr 15, 2021)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) furnished this Form 8-K under Item 2.02 to report first quarter 2021 results, attaching a news release dated April 15, 2021. The company reported total operating revenue of $2.62 billion, up 15% from $2.28 billion in the first quarter of 2020, with all segments contributing to the increase. Operating income rose 34% to $207.7 million, and net earnings were $146.6 million, or $1.37 per diluted share, versus $104.8 million, or $0.98 per diluted share, a year earlier. The company noted that prior-year results included a $12.3 million one-time COVID-related bonus, an $8.2 million accrual related to revenue divisions owed to BNSF Railway Company, and $3.4 million of stock compensation tied to executive retirements. Current-quarter operating income was reduced by approximately $8 million of COVID-related expenses. Segment performance was mixed. Integrated Capacity Solutions revenue grew 56% to $525 million and swung to operating income of $7.3 million from an operating loss of $18.9 million, while Truck revenue rose 43% and Final Mile Services revenue rose 31%. Intermodal revenue grew 2% to $1.18 billion, but volumes fell 3% and weather disruptions were estimated to have reduced volumes by approximately 25,000 loads. Dedicated Contract Services revenue grew 7%, with productivity up approximately 6%. Balance sheet and cash flow items were steady. Total debt was $1.30 billion, comparable to year-end 2020, cash and cash equivalents were $553 million, and net capital expenditures were about $86 million versus $129 million a year earlier. The company repurchased approximately 34,000 shares for about $5 million and had roughly $498 million remaining under its repurchase authorization. The effective tax rate was 25.1%, and the company continues to expect a 2021 annual rate between 24.0% and 25.0%.

Apr 15, 2021 8-K

Other EventsExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Corporate Update (Apr 8, 2021)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) filed this Current Report under Item 8.01 (Other Events) to announce that, because of the ongoing public health impact of the COVID-19 pandemic, it will provide audio conference call access so stockholders can listen remotely to its Annual Meeting of Stockholders. The meeting is scheduled for Thursday, April 22, 2021, at 10:00 a.m. (CDT) at the company's headquarters at 615 J.B. Hunt Corporate Drive in Lowell, Arkansas. Only stockholders of record on February 16, 2021, are entitled to vote at the meeting or any adjournments. The remote option is listen-only. Stockholders who want dial-in access must register before 10:00 a.m. (CDT) on April 21, 2021, to receive a dial-in number, personal access code and meeting agenda. The company states the meeting will consist of official business only, and management does not plan an informal business update. In-person attendance requires advance notice by April 21, 2021, along with COVID-19 visitor screening, face coverings, six-foot distancing, and proof of share ownership for beneficial owners. Stockholders who listen remotely must submit a proxy before the meeting to have their shares voted. The company urges all record holders as of the record date to submit proxies promptly, and it will publish final voting results on a Form 8-K within four business days after the meeting. The filing attaches a news release dated April 8, 2021 (Exhibit 99.1) as the only substantive exhibit.

Apr 8, 2021 8-K

Leadership ChangesExhibits & Filings

J.B. Hunt Transport Services 8-K Report, Executive Changes (Jan 25, 2021)

On January 20 and 21, 2021, the Board of Directors of J.B. Hunt Transport Services, Inc. approved base salaries for its named executive officers and its Chairman of the Board, effective January 31, 2021. John N. Roberts III, President and CEO, receives a base salary of $940,000. John Kuhlow (CFO, EVP) receives $400,000, Shelley Simpson (CCO, EVP People and Human Resources) and Nicholas Hobbs (COO, President of Contract Services, EVP) each receive $600,000, Darren Field (President of Intermodal, EVP) receives $450,000, and Kirk Thompson, Chairman of the Board, receives $395,000. The filing also describes the company's 2021 incentive structure. Under the 2021 Company Bonus Plan, tied to calendar year 2021 operating income, named executive officers may earn a bonus from zero to 65% of annual base salary. Under the 2021 Performance Growth Incentive (PGI) Bonus Plan, tied to calendar 2021 net revenue and earnings before taxes, Mr. Roberts may earn zero to 125% of base salary and each other named executive officer may earn zero to 100%. Mr. Thompson is not eligible for either plan. Executives may also receive reimbursement of up to $10,000 for legal, tax and estate planning services, and the 401(k) plan is expected to pay approximately $9,000 in matching contributions to each officer during 2021. The filing is a compensation disclosure under Item 5.02 and is supplemented by Exhibit 99.1, a summary of compensation arrangements with named executive officers. Management Incentive Plan awards are excluded from the figures disclosed.

Jan 25, 2021 8-K/A

Earnings & ResultsExhibits & Filings

J.B. Hunt Transport Services 8-K/A Report, Financial Results (Jan 22, 2021)

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported fourth quarter 2020 total operating revenue of $2.74 billion, up 12%, with operating income of $207.7 million, up 1%, and diluted EPS of $1.44 versus $1.35, up 7%. Net earnings for the quarter were $154.0 million, compared with $144.7 million in the fourth quarter of 2019. Revenue growth was driven mainly by the Integrated Capacity Solutions (ICS) and Truck (JBT) segments, which grew 56% and 50% respectively. Fuel surcharge revenue declined 34%, and Intermodal (JBI) revenue fell 1%. Management cited higher rail and third-party purchased transportation costs, driver wage and recruiting costs, and technology investments as offsets to the revenue gains. For the full year 2020, total operating revenue was $9.64 billion, up 5%, while operating income was $713.1 million, down 3%, and diluted EPS was $4.74 versus $4.77, down 1%. Intermodal operating income declined 16% in the fourth quarter, which the company attributed to rail congestion, service disruptions, and labor challenges. The company reported total debt of $1.31 billion, cash and cash equivalents of $313 million, and net capital expenditures of approximately $601 million for 2020, compared with $688 million in 2019. It repurchased approximately 144,000 shares for about $17 million in the fourth quarter and had approximately $503 million remaining under its share repurchase authorization. This Form 8-K/A amends the original January 19, 2021 report solely to correct the date of the news release attached as Exhibit 99.1, which is the earnings release for the fourth quarter and full year ended December 31, 2020. Other disclosures in the original report are unchanged. The company expects its 2021 annual effective tax rate to be between 24.0% and 25.0%.

Jan 22, 2021

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