Exhibit 99.1

 

 

huntlogoa03.jpg

 

 

J.B. Hunt Transport Services, Inc.

Contact: Andrew Hall

615 J.B. Hunt Corporate Drive

Senior Director – Finance

Lowell, Arkansas 72745

(479) 820-0000

(NASDAQ: JBHT)

 

 

 

FOR IMMEDIATE RELEASE

 

 

J.B. HUNT TRANSPORT SERVICES, INC. REPORTS U.S. GAAP REVENUES, NET EARNINGS AND EARNINGS PER SHARE FOR THE SECOND QUARTER 2026

 

                  

■   Second Quarter 2026 Revenue:

$3.50 billion; up 19%

■   Second Quarter 2026 Operating Income:

$259.5 million; up 32%

■   Second Quarter 2026 EPS:

$1.91 vs. $1.31; up 45%

 

   

LOWELL, Ark., July 15, 2026 — J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) announced second quarter 2026 U.S. GAAP (United States Generally Accepted Accounting Principles) net earnings of $181.0 million, or diluted earnings per share of $1.91 versus second quarter 2025 net earnings of $128.6 million, or $1.31 per diluted share.

 

“I’m grateful for our people and their continued focus on delivering operational excellence around service, safety and cost discipline in this dynamic environment,” said Shelley Simpson, president and CEO. “Our second quarter results reflect the strength of executing our strategy, as we leveraged our investments in our people, technology, and capacity to drive growth and improve profitability. As market conditions continue to evolve, we remain focused on creating long-term value for our shareholders, delivering valuable solutions to our customers while maintaining discipline around returns on our capital.”

 

Total operating revenue for the current quarter was $3.50 billion compared with $2.93 billion for the second quarter 2025, an increase of 19%. Current quarter total operating revenue, excluding fuel surcharge revenue, increased 11% versus the second quarter 2025. The increase in revenue, excluding fuel surcharge revenue, was primarily driven by increased load volumes in Intermodal (JBI), Integrated Capacity Solutions (ICS) and Truckload (JBT), higher revenue per load in JBI, ICS and JBT and increased productivity in Dedicated Contract Services® (DCS®), partially offset by a 14% decline in Final Mile Services (FMS) stops.

 

Operating income for the current quarter increased 32% to $259.5 million versus $197.3 million for the second quarter 2025. The increase in operating income was primarily driven by higher revenue, improved productivity across the business, continued execution on our initiative to remove structural cost, lower group medical claims and lower facility rental and equipment storage expenses. These were partially offset by higher purchase transportation cost, particularly in our ICS and JBT segments and higher equipment-related expenses. Consolidated operating income as a percentage of gross revenue increased year-over-year as a result of the previously mentioned items, partially offset by higher fuel expense as a percentage of gross revenue.

 

Net interest expense for the current quarter decreased approximately 21% from the second quarter 2025 due to a lower average consolidated debt balance partially offset by a modestly higher average interest rate.

 

The effective income tax rate was 25.4% in the current quarter compared to 26.9% in the second quarter 2025. We now expect our 2026 annual tax rate to be between 24.0% and 24.5%.

 


 

Segment Information:

 

Intermodal (JBI)

 

Second Quarter 2026 Segment Revenue:

$1.75 billion; up 22%

Second Quarter 2026 Operating Income:

$150.9 million; up 58%

             

Intermodal volume increased 10% over the same period in 2025. Transcontinental network loads increased 5%, while Eastern network loads increased 16% compared to the second quarter 2025. Overall demand for our intermodal service increased throughout the quarter driven by the strong value proposition it presents to customers facing higher fuel prices and constrained driver and capacity availability in other transportation modes. Volume growth in our Eastern network continues to be strong, driven by conversion and overall service execution. Segment gross revenue increased 22% from the prior-year period driven by the 10% increase in volume and an 11% increase in gross revenue per load, resulting from higher fuel surcharge revenue, customer rates and changes in mix of freight. Revenue per load excluding fuel surcharge revenue increased 1%.

 

Operating income increased 58% compared to the second quarter 2025 primarily due to network efficiency resulting from strong volume growth, productivity improvements across the dray network, lower proportion of empty container moves and lower container storage expense. Continued execution on initiatives to lower our cost to serve also contributed to the improvement. These were partially offset by higher insurance premium and claims expense and higher professional driver personnel expense.

 

 

Dedicated Contract Services (DCS)

 

Second Quarter 2026 Segment Revenue:

$921 million; up 9%

Second Quarter 2026 Operating Income:

$102.5 million; up 9%

                  

DCS revenue increased 9% during the quarter compared to the same period 2025 driven by a 9% increase in productivity (revenue per truck per week) as average trucks were approximately flat versus the prior-year period. Productivity excluding fuel surcharge revenue increased 2% from the prior-year period due to contracted indexed-based price escalators. On a net basis, there were 5 additional revenue-producing trucks in the fleet by the end of the quarter compared to the prior-year period and approximately 140 more versus the end of the first quarter 2026. Customer retention rates have improved to approximately 96%.

 

Operating income increased 9% from the prior-year period. The increase was driven by the higher revenue, lower group medical claims expense and continued progress on the initiative to lower our cost to serve. These were partially offset by higher insurance premium and equipment-related expenses and higher new business onboarding expenses compared to the prior year period.

 

 

Integrated Capacity Solutions (ICS)

 

Second Quarter 2026 Segment Revenue:

$388 million; up 49%

Second Quarter 2026 Operating Income/(Loss): 

$1.7 million; vs. $(3.6) million in Q225

 

ICS revenue increased 49% during the current quarter compared to the second quarter of 2025. Overall segment volume increased 19% versus the prior-year period with growth in both published and spot volume. Revenue per load increased 26% due to higher rates across both contractual and transactional volume. Contractual volume represented approximately 65% of the total load volume and 63% of the total revenue in the current quarter compared to 62% and 63%, respectively, in the second quarter 2025.

 


 

Operating income was $1.7 million compared to an operating loss of $3.6 million for the second quarter of 2025. The operating environment remained volatile during the current quarter as market capacity dynamics continue to evolve rapidly. Operating results improved from the prior-year quarter primarily due to an increase in gross profit driven by the increases in both revenue per load and volume which more than offset a 54% increase in purchased transportation expense. Gross profit margins decreased to 12.5% compared to 15.5% in the prior year period but improved from 12.0% in the first quarter of 2026.

 

 

Final Mile Services (FMS)

 

Second Quarter 2026 Segment Revenue:

$198 million; down 6%

Second Quarter 2026 Operating Income:

$5.6 million; down 30%

      

FMS revenue decreased 6% compared to the same period 2025. The decrease was primarily driven by known business losses given our ongoing efforts to improve revenue quality and profitability across various accounts. The decrease in segment gross revenue was partially offset by stabilizing demand across many of the end markets served and the implementation of new business awarded over the past year.

 

Operating income decreased 30% to $5.6 million compared to the prior-year period. Operating income decreased primarily due to the impact of lower revenue and higher purchased transportation expense. The operating income decline was partially offset by lower claims and facility rental expenses and continued progress on the initiative to lower our cost to serve.

 

 

Truckload (JBT)

 

Second Quarter 2026 Segment Revenue:

$240 million; up 35%

Second Quarter 2026 Operating Income/(Loss):

($1.3) million; vs. $3.4 million in Q225

 

JBT revenue increased 35% compared to the same period in the prior year. Revenue excluding fuel surcharge revenue increased 28% driven by a 14% increase in load volume and a 13% improvement in revenue per load excluding fuel surcharge revenue. Total average effective trailer count increased by approximately 45 units, or less than 1% versus the prior-year period. Trailer turns in the quarter improved 13% from the prior period primarily due to improved network balance and velocity to improve equipment utilization.

 

Operating loss was $1.3 million compared to operating income of $3.4 million for the second quarter 2025. Operating performance declined from the prior year period primarily due to higher purchased transportation expense, which resulted in a 12% decline in gross profit. This was partially offset by continued cost management and productivity and a more balanced network. JBT segment operating income as a percentage of segment gross revenue decreased year-over-year as a result of higher third-party capacity costs as a percentage of gross revenue.

 

 

Cash Flow and Capitalization:

 

At June 30, 2026, we had approximately $1.15 billion outstanding on various debt instruments compared to $1.72 billion at June 30, 2025 and $1.47 billion at December 31, 2025.

 

Our net capital expenditures for the six months ended June 30, 2026 approximated $144.9 million compared to $399.1 million for the same period 2025. At June 30, 2026, we had cash and cash equivalents of approximately $4.2 million.

 

In the second quarter 2026, we purchased approximately 392,000 shares of common stock for approximately $98 million. At June 30, 2026, we had approximately $791 million remaining under our share repurchase authorization. Actual shares outstanding at June 30, 2026 approximated 93.9 million.

 

Conference Call Information:

 

The company will hold a conference call today from 4:00–5:00 p.m. CDT to discuss the quarterly earnings. Investors will have the opportunity to listen to the conference call live over the internet by going to investor.jbhunt.com. Please log on 15 minutes early to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, an online replay of the earnings call webcast will be available a few hours after the completion of the call.

 


 

Forward-Looking Statements:

 

This press release may contain forward-looking statements, which are based on information currently available. Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, those discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2025. We assume no obligation to update any forward-looking statement to the extent we become aware that it will not be achieved for any reason. This press release and additional information will be available to interested parties on our website, www.jbhunt.com.

 

About J.B. Hunt

 

J.B. Hunt’s vision is to create the most efficient transportation network in North America. The company’s industry-leading solutions and mode-neutral approach generate value for customers by eliminating waste, reducing costs and enhancing supply chain visibility. Powered by one of the largest company-owned fleets in the country and third-party capacity through its J.B. Hunt 360°® digital freight marketplace, J.B. Hunt can meet the unique shipping needs of any business, from first mile to final delivery, and every shipment in-between. Through disciplined investments in its people, technology and capacity, J.B. Hunt is delivering exceptional value and service that enable long-term growth for the company and its stakeholders.

 

J.B. Hunt Transport Services Inc. is an S&P 500 company and a component of the Dow Jones Transportation Average. Its stock trades on NASDAQ under the ticker symbol JBHT. J.B. Hunt Transport Inc. is a wholly owned subsidiary of JBHT. The company’s services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, last mile, transload and more. For more information, visit www.jbhunt.com.

 


huntlogoa03.jpg

 

J.B. HUNT TRANSPORT SERVICES, INC.

Condensed Consolidated Statements of Earnings

(in thousands, except per share data)

(unaudited)

 

Three Months Ended June 30

2026

2025

% Of

% Of

Amount

Revenue

Amount

Revenue

Operating revenues, excluding fuel surcharge revenues

$

2,853,836

$

2,576,319

Fuel surcharge revenues

641,460

351,862

Total operating revenues

3,495,296

100.0

%

2,928,181

100.0

%

Operating expenses

Rents and purchased transportation

1,677,280

48.0

%

1,266,908

43.3

%

Salaries, wages and employee benefits

820,352

23.5

%

816,941

27.9

%

Fuel and fuel taxes

235,208

6.7

%

153,710

5.2

%

Depreciation and amortization

180,610

5.2

%

176,980

6.0

%

Operating supplies and expenses

138,870

4.0

%

128,245

4.4

%

Insurance and claims

88,792

2.5

%

84,838

2.9

%

General and administrative expenses, including asset dispositions

65,718

1.9

%

74,876

2.6

%

Operating taxes and licenses

18,920

0.5

%

17,770

0.6

%

Communication and utilities

10,094

0.3

%

10,639

0.4

%

Total operating expenses

3,235,844

92.6

%

2,730,907

93.3

%

Operating income

259,452

7.4

%

197,274

6.7

%

Net interest expense

16,768

0.5

%

21,285

0.7

%

Earnings before income taxes

242,684

6.9

%

175,989

6.0

%

Income taxes

61,650

1.7

%

47,365

1.6

%

Net earnings

$

181,034

5.2

%

$

128,624

4.4

%

Average diluted shares outstanding

94,944

97,976

Diluted earnings per share

$

1.91

$

1.31

 


J.B. HUNT TRANSPORT SERVICES, INC.

Condensed Consolidated Statements of Earnings

(in thousands, except per share data)

(unaudited)

 

Six Months Ended June 30

2026

2025

% Of

% Of

Amount

Revenue

Amount

Revenue

Operating revenues, excluding fuel surcharge revenues

$

5,502,329

$

5,136,048

Fuel surcharge revenues

1,049,458

713,525

​Total operating revenues

6,551,787

100.0

%

5,849,573

100.0

%

Operating expenses

​Rents and purchased transportation

3,082,180

47.0

%

2,560,236

43.8

%

​Salaries, wages and employee benefits

1,605,948

24.5

%

1,616,588

27.6

%

​Fuel and fuel taxes

410,267

6.3

%

313,643

5.4

%

​Depreciation and amortization

360,020

5.5

%

356,456

6.1

%

​Operating supplies and expenses

264,131

4.0

%

251,698

4.3

%

​Insurance and claims

176,542

2.7

%

169,856

2.9

%

​General and administrative expenses, including asset dispositions

127,571

2.0

%

147,847

2.5

%

​Operating taxes and licenses

37,453

0.6

%

35,250

0.6

%

​Communication and utilities

21,175

0.3

%

22,045

0.4

%

​Total operating expenses

6,085,287

92.9

%

5,473,619

93.6

%

​Operating income

466,500

7.1

%

375,954

6.4

%

Net interest expense

34,668

0.5

%

39,882

0.7

%

​Earnings before income taxes

431,832

6.6

%

336,072

5.7

%

Income taxes

109,245

1.7

%

89,708

1.5

%

​Net earnings

$

322,587

4.9

%

$

246,364

4.2

%

Average diluted shares outstanding

95,073

99,226

​Diluted earnings per share

$

3.39

$

2.48

 


 


Financial Information By Segment


(in thousands)

(unaudited)

 

Three Months Ended June 30

2026

2025

% Of

% Of

Amount

Total

Amount

Total

Revenue

Intermodal

$

1,753,689

50

%

$

1,437,885

49

%

Dedicated

920,710

26

%

846,755

29

%

Integrated Capacity Solutions

388,495

11

%

260,243

9

%

Final Mile Services

198,037

6

%

210,627

7

%

Truckload

239,653

7

%

176,968

6

%

Subtotal

3,500,584

100

%

2,932,478

100

%

Intersegment eliminations

(5,288

)

(0

%)

(4,297

)

(0

%)

Consolidated revenue

$

3,495,296

100

%

$

2,928,181

100

%

Operating income

Intermodal

$

150,863

58

%

$

95,747

49

%

Dedicated

102,473

40

%

93,687

47

%

Integrated Capacity Solutions

1,695

1

%

(3,554

)

(2

%)

Final Mile Services

5,557

2

%

7,993

4

%

Truckload

(1,335

)

(1

%)

3,369

2

%

Other (1)

199

0

%

32

0

%

Operating income

$

259,452

100

%

$

197,274

100

%

 

Six Months Ended June 30

2026

2025

% Of

% Of

Amount

Total

Amount

Total

Revenue

Intermodal

$

3,258,482

49

%

$

2,907,138

50

%

Dedicated

1,761,266

27

%

1,669,047

28

%

Integrated Capacity Solutions

711,232

11

%

528,285

9

%

Final Mile Services

386,064

6

%

411,331

7

%

Truckload

445,036

7

%

343,596

6

%

Subtotal

6,562,080

100

%

5,859,397

100

%

Intersegment eliminations

(10,293

)

(0

%)

(9,824

)

(0

%)

Consolidated revenue

$

6,551,787

100

%

$

5,849,573

100

%

Operating income

Intermodal

$

265,353

57

%

$

190,134

51

%

Dedicated

189,868

41

%

173,961

46

%

Integrated Capacity Solutions

(2,956

)

(1

%)

(6,220

)

(1

%)

Final Mile Services

12,722

3

%

12,669

3

%

Truckload

1,382

0

%

5,408

1

%

Other (1)

131

0

%

2

0

%

Operating income

$

466,500

100

%

$

375,954

100

%

 

(1) Includes corporate support activity

 


 


Operating Statistics by Segment


(unaudited)

 

Three Months Ended June 30

2026

2025

Intermodal

Loads

578,072

525,161

Average length of haul

1,587

1,631

Revenue per load

$

3,034

$

2,738

Average tractors during the period *

6,212

6,376

Tractors (end of period) *

6,232

6,363

Trailing equipment (end of period)

124,199

125,265

Average effective trailing equipment usage

112,301

102,603

Dedicated

Loads

995,594

992,772

Average length of haul

172

177

Revenue per truck per week**

$

5,635

$

5,163

Average trucks during the period***

12,658

12,689

Trucks (end of period) ***

12,744

12,739

Trailing equipment (end of period)

34,343

32,345

Average effective trailing equipment usage

35,645

33,027

Integrated Capacity Solutions

Loads

156,856

132,315

Revenue per load

$

2,477

$

1,967

Gross profit margin

12.5

%

15.5

%

Employee count (end of period)

710

560

Final Mile Services

Stops

861,905

998,916

Average trucks during the period***

1,199

1,317

Truckload

Loads

118,714

104,357

Revenue per load

$

2,019

$

1,696

Average length of haul

584

611

Tractors (end of period)

Company-owned

-

-

Independent contractor

1,880

2,041

Total tractors

1,880

2,041

Trailers (end of period)

12,573

12,785

Average effective trailing equipment usage

12,190

12,144

 

* Includes company-owned and independent contractor tractors

** Using weighted workdays

*** Includes company-owned, independent contractor, and customer-owned trucks

 


 


Operating Statistics by Segment


(unaudited)

 

Six Months Ended June 30

2026

2025

Intermodal

Loads

1,114,924

1,046,982

Average length of haul

1,600

1,645

Revenue per load

$

2,923

$

2,777

Average tractors during the period *

6,198

6,403

Tractors (end of period) *

6,232

6,363

Trailing equipment (end of period)

124,199

125,265

Average effective trailing equipment usage

110,193

105,164

Dedicated

Loads

1,937,825

1,935,666

Average length of haul

172

179

Revenue per truck per week**

$

5,438

$

5,146

Average trucks during the period***

12,649

12,656

Trucks (end of period) ***

12,744

12,739

Trailing equipment (end of period)

34,343

32,345

Average effective trailing equipment usage

34,497

32,972

Integrated Capacity Solutions

Loads

308,675

270,058

Revenue per load

$

2,304

$

1,956

Gross profit margin

12.3

%

15.4

%

Employee count (end of period)

710

560

Final Mile Services

Stops

1,666,641

1,919,260

Average trucks during the period***

1,214

1,335

Truckload

Loads

232,135

199,500

Revenue per load

$

1,917

$

1,722

Average length of haul

589

616

Tractors (end of period)

Company-owned

-

-

Independent contractor

1,880

2,041

Total tractors

1,880

2,041

Trailers (end of period)

12,573

12,785

Average effective trailing equipment usage

12,352

12,120

 

* Includes company-owned and independent contractor tractors

** Using weighted workdays

*** Includes company-owned, independent contractor, and customer-owned trucks

 


 

J.B. HUNT TRANSPORT SERVICES, INC.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

 

June 30, 2026

December 31, 2025

ASSETS

Current assets:

Cash and cash equivalents

$

4,162

$

17,284

Accounts Receivable, net

1,461,271

1,160,371

Prepaid expenses and other

347,913

426,535

Total current assets

1,813,346

1,604,190

Property and equipment

9,359,388

9,348,370

Less accumulated depreciation

3,988,837

3,810,269

Net property and equipment

5,370,551

5,538,101

Other assets, net

760,881

784,864

$

7,944,778

$

7,927,155

LIABILITIES & STOCKHOLDERS' EQUITY

Current liabilities:

Current debt

$

-

$

699,859

Trade accounts payable

792,348

655,604

Claims accruals

322,235

310,339

Accrued payroll

153,185

110,388

Other accrued expenses

176,895

159,153

Total current liabilities

1,444,663

1,935,343

Long-term debt

1,145,337

766,938

Long-term claims accruals

487,457

444,479

Other long-term liabilities

298,697

307,005

Deferred income taxes

911,509

908,305

Stockholders' equity

3,657,115

3,565,085

$

7,944,778

$

7,927,155

 

 

Supplemental Data

(unaudited)

 

June 30, 2026

December 31, 2025

Actual shares outstanding at end of period (000)

93,915

94,595

Book value per actual share outstanding at end of period

$

38.94

$

37.69

 

 

 

Six Months Ended June 30

2026

2025

Net cash provided by operating activities (000)

$

723,266

$

806,245

Net capital expenditures (000)

$

144,947

$

399,079