How did J.B. Hunt perform in the fourth quarter of 2025?

Net earnings were $181.1 million, or $1.90 per diluted share, compared with $155.5 million, or $1.53 per diluted share, in the fourth quarter of 2024. Total operating revenue was $3.10 billion, down 2% from $3.15 billion, while operating income rose 19% to $246.5 million.

Which segments drove the improvement in operating income?

Intermodal operating income rose 16% to $135.5 million, and Dedicated rose 9% to $98.4 million. Integrated Capacity Solutions narrowed its operating loss to $3.3 million from $21.8 million, which included $16.0 million of prior-year impairment charges. Final Mile Services operating income fell 43% to $7.5 million.

What did the company say about its 2026 tax rate?

The company expects its 2026 annual tax rate to be between 24.0% and 25.0%, based on current enacted legislation. The 2025 annual effective tax rate was 24.7%.

How much did J.B. Hunt spend on capital expenditures and share repurchases?

Net capital expenditures for 2025 were approximately $575 million, compared with $674 million in 2024. The company purchased approximately 6.3 million shares for approximately $923 million in 2025, leaving approximately $968 million under its repurchase authorization.

What was the company's debt and cash position at year-end 2025?

Total debt outstanding was $1.47 billion at December 31, 2025, compared with $1.48 billion a year earlier and $1.60 billion at September 30, 2025. Cash and cash equivalents were $17 million.

JBHT 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed January 15, 2026. Cited figures are marked; the original filing is the authoritative source.

J.B.

Hunt Transport Services, Inc. (NASDAQ: JBHT) reported U.S. GAAP net earnings of $181.1 million^a, 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^b 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^c 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.

02—Key points

Key Highlights

Q4 2025 diluted EPS of $1.90 versus $1.53 in Q4 2024, up 24%; net earnings of $181.1 million versus $155.5 million.
Q4 2025 total operating revenue of $3.10 billion, down 2%, with operating income up 19% to $246.5 million.
Full-year 2025 diluted EPS of $6.12 versus $5.56 in 2024, with operating income of $865.1 million, up 4%.
Intermodal operating income rose 16% to $135.5 million in Q4 2025 despite a 3% segment revenue decline, aided by improved network balance and lower drayage costs.
Integrated Capacity Solutions swung to a $3.3 million operating loss from $21.8 million in Q4 2024, which included $16.0 million of impairment charges; gross profit margin fell to 12.4% from 17.3%.
Final Mile Services revenue fell 10% and operating income fell 43% to $7.5 million in Q4 2025.
Total debt declined to $1.47 billion from $1.48 billion a year earlier; 2025 share repurchases totaled approximately $923 million, with about $968 million remaining under the authorization.

03—Questions

Frequently Asked Questions

How did J.B. Hunt perform in the fourth quarter of 2025?
Net earnings were $181.1 million, or $1.90 per diluted share, compared with $155.5 million, or $1.53 per diluted share, in the fourth quarter of 2024. Total operating revenue was $3.10 billion, down 2% from $3.15 billion, while operating income rose 19% to $246.5 million.
Which segments drove the improvement in operating income?
Intermodal operating income rose 16% to $135.5 million, and Dedicated rose 9% to $98.4 million. Integrated Capacity Solutions narrowed its operating loss to $3.3 million from $21.8 million, which included $16.0 million of prior-year impairment charges. Final Mile Services operating income fell 43% to $7.5 million.
What did the company say about its 2026 tax rate?
The company expects its 2026 annual tax rate to be between 24.0% and 25.0%, based on current enacted legislation. The 2025 annual effective tax rate was 24.7%.
How much did J.B. Hunt spend on capital expenditures and share repurchases?
Net capital expenditures for 2025 were approximately $575 million, compared with $674 million in 2024. The company purchased approximately 6.3 million shares for approximately $923 million in 2025, leaving approximately $968 million under its repurchase authorization.
What was the company's debt and cash position at year-end 2025?
Total debt outstanding was $1.47 billion at December 31, 2025, compared with $1.48 billion a year earlier and $1.60 billion at September 30, 2025. Cash and cash equivalents were $17 million.

04—Continue

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