J.B. Hunt Transport Services, Inc. Contact: Andrew Hall
J.B. Hunt Transport Services, Inc. Contact: Andrew Hall 615 J.B. Hunt Corporate DriveLowell, Sr. Director, Finance(479) 820-0000 Arkansas 72745(NASDAQ: JBHT)
J.B. HUNT TRANSPORT SERVICES, INC. REPORTS U.S. GAAP REVENUES, NET EARNINGS AND EARNINGS PER SHARE FOR THE THIRD QUARTER 2026
■ Third Quarter 2026 Revenue: $3.68 billion; up 20% ■ Third Quarter 2026 Operating Income: $247.1 million; up 2% ■ Third Quarter 2026 Diluted EPS: $1.82 vs. $1.76; up 3%
LOWELL, Ark., October 15, 2026 - J.B. Hunt Transport Services, Inc., (NASDAQ: JBHT) announced third quarter 2026 U.S. GAAP (United States Generally Accepted Accounting Principles) net earnings of $172.4 million, or diluted earnings per share of $1.82 versus third quarter 2025 net earnings of $170.8 million, or $1.76 per diluted share.
“I want to thank our people for their unwavering commitment to serving our customers, operating safely and executing with excellence every day. Their discipline and focus enabled us to meet customer needs, improve our operations, and continue providing excellent service,” said Shelley Simpson, president and CEO. We remain confident in our strategy and are building the capabilities needed to support our customers' evolving needs, strengthen our competitive position and drive long-term profitable growth for our shareholders.”
Total operating revenue for the current quarter was $3.68 billion compared with $3.05 billion for the third quarter 2025, an increase of 20%. Current quarter total operating revenue, excluding fuel surcharge revenue, increased 13% versus the third quarter 2025. The increase in revenue, excluding fuel surcharge revenue, was primarily driven by an 8% increase in Intermodal (JBI) loads, a 27% increase in Integrated Capacity Solutions (ICS) revenue per load, excluding fuel surcharge revenue, and a 29% increase in Truckload (JBT) revenue per load, excluding fuel surcharge revenue, partially offset by a 10% decline in Final Mile Services (FMS) stops.
Operating income for the current quarter increased 2% to $247.1 million versus $242.7 million for the third quarter 2025. The increase in operating income was primarily driven by higher revenue, improved productivity across the organization and lower equipment storage and facility rental expenses. These were partially offset by higher purchase transportation and increased professional driver personnel expenses, higher equipment- related cost and increased insurance and group medical claims expense compared to the prior year period. On a consolidated basis, operating income as a percentage of gross revenue decreased year-over-year as a result of higher purchased transportation, fuel and fuel taxes, and increased insurance claims expenses as a percentage of gross revenue.
Net interest expense for the current quarter decreased compared to third quarter 2025 due to a lower average consolidated debt balance partially offset by a modestly higher average interest rate
The effective income tax rate in the current quarter was 25.5% versus 24.0% in the third quarter 2025 due to the timing of certain discrete tax items. We expect our 2026 full year annual tax rate to be approximately 24.0%. Segment Information:
■ Third Quarter 2026 Segment Revenue: $1.83 billion; up 20% ■ Third Quarter 2026 Operating Income: $147.5 million; up 18%
Intermodal volume increased 8% over the same period in 2025. Transcontinental network loads increased 1%, while Eastern network loads increased 18% compared to the third quarter 2025. Overall demand for our intermodal service was strong throughout the quarter driven by the strong value proposition intermodal presents to customers. In the Eastern network, we continue to see strong demand for road-to-rail conversion. Segment gross revenue increased 20% from the prior- year period, reflecting an 11% increase in gross revenue per load, resulting from higher fuel surcharge revenue, customer rates and changes in mix of freight, and the 8% increase in volume. Revenue per load excluding fuel surcharge revenue increased 2% year-over-year.
Operating income increased 18% compared to the prior year period in the third quarter primarily from improved network balance and efficiency improvements, continued discipline and execution on our initiative to lower our cost to serve and lower container storage expense. These were partially offset by higher professional driver personnel expense, higher equipment-related cost and increased insurance and group medical claims expense. Dedicated Contract Services (DCS)
■ Third Quarter 2026 Segment Revenue: $960 million; up 11% ■ Third Quarter 2026 Operating Income: $81.7 million; down 22%
DCS revenue increased 11% during the current quarter over the same period 2025 driven by a 10% improvement in productivity (revenue per truck per week) and a 1% increase in average trucks. Productivity excluding fuel surcharge revenue increased 3% from a year ago driven by contracted indexed-based price escalators and a decline in idled tractor equipment. On a net basis, there were 162 additional revenue producing trucks in the fleet by the end of the quarter compared to the prior-year period and 120 more versus the end of the second quarter 2026. Customer retention rates remain at approximately 96%.
Operating income decreased 22% from the prior-year quarter. The decrease was driven by higher professional driver personnel expense, increased group medical claims, higher expenses related to insurance premiums and equipment, and increased new business onboarding expense, compared to the prior year period.
■ Third Quarter 2026 Segment Revenue: $434 million; up 57% ■ Third Quarter 2026 Operating $9.6 million; vs. $(0.8) million in Income/(Loss): Q3'25
ICS revenue increased 57% during the current quarter versus the third quarter 2025. Overall segment volume increased 22% versus the prior-year period with growth in both published and spot volume. Revenue per load increased 29% compared to the third quarter 2025 due to increases in both contractual and transactional rates. Contractual volume represented approximately 63% of the total load volume and 58% of the total revenue in the current quarter compared to 63% and 64%, respectively, in third quarter 2025.
Operating income was $9.6 million compared to an operating loss of $0.8 million in the third quarter 2025. Operating results improved from the prior-year quarter primarily due to an increase in gross profit driven by increases in both revenue per load and volume, partially offset by higher personnel-related and insurance claims expense. Gross profit margin of 14.3% in the third quarter of 2026 declined compared to 15.0% in the prior year period but improved from 12.5% in the second quarter of 2026.
■ Third Quarter 2026 Segment Revenue: $200 million; down 3% ■ Third Quarter 2026 Operating Income: $1.6 million; down 76%
FMS revenue decreased 3% compared to the same period 2025. The decrease in revenue was primarily driven by known business losses given our ongoing efforts to improve revenue quality and profitability across the portfolio. The decrease in segment gross revenue was partially offset by stabilizing demand across many of our end markets and improved revenue quality across various accounts.
Operating income decreased 76% compared to the prior-year period primarily driven by the decline in segment revenue along with higher purchased transportation expense. The decline in operating income was partially offset by lower personnel-related and facility rental expenses along with continued progress on the initiative to lower our cost to serve.
■ Third Quarter 2026 Segment Revenue: $261 million; up 37% ■ Third Quarter 2026 Operating Income: $7.0 million; down 6%
JBT segment gross revenue increased 37% compared to the same period in the previous year. Segment gross revenue excluding fuel surcharge revenue increased 34% driven by a 29% increase in gross revenue per load excluding fuel surcharge revenue and a 4% increase in load volume. Total average effective trailer count decreased by approximately 60 units, or 1% versus the prior-year period. Compared to the third quarter 2025, trailer turns in the quarter were up 3%, primarily due to better network balance, improved asset utilization and modestly higher load volume.
JBT segment operating income decreased 6% to $7.0 million versus the third quarter 2025. The decrease in operating income was primarily driven by higher purchase transportation expense and equipment-related costs, partially offset by continued disciplined cost management and the benefits of a more balanced network. JBT segment operating income as a percentage of segment gross revenue decreased year-over-year primarily due to higher third-party capacity costs as a percentage of revenue.
At September 30, 2026, we had approximately $1.12 billion outstanding on various debt instruments compared to $1.60 billion at September 30, 2025 and $1.47 billion at December 31, 2025.
Our net capital expenditures for the nine months ended September 30, 2026 approximated $291.1 million compared to $490.9 million for the same period 2025. At September 30, 2026, we had cash and cash equivalents of approximately $4 million.
In the third quarter 2026, we purchased approximately 704,000 shares of common stock for approximately $174 million. At September 30, 2026, we had approximately $619 million remaining under our share repurchase authorization. Actual shares outstanding at September 30, 2026 approximated 93.2 million.
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 . 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.
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, . 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 . J.B. HUNT TRANSPORT SERVICES, INC.
*** Includes company-owned, independent contractor, and customer-owned trucks J.B. HUNT TRANSPORT SERVICES, INC.
Full text with the tables
Exhibit 99.1
J.B. Hunt Transport Services, Inc. Contact: Andrew Hall
615 J.B. Hunt Corporate DriveLowell, Sr. Director, Finance(479) 820-0000
Arkansas 72745(NASDAQ: JBHT)
FOR IMMEDIATE RELEASE
J.B. HUNT TRANSPORT SERVICES, INC. REPORTS U.S. GAAP REVENUES, NET EARNINGS AND
EARNINGS PER SHARE FOR THE THIRD QUARTER 2026
■ Third Quarter 2026 Revenue: $3.68 billion; up 20%
■ Third Quarter 2026 Operating Income: $247.1 million; up 2%
■ Third Quarter 2026 Diluted EPS: $1.82 vs. $1.76; up 3%
LOWELL, Ark., October 15, 2026 - J.B. Hunt Transport Services, Inc., (NASDAQ:
JBHT) announced third quarter 2026 U.S. GAAP (United States Generally Accepted
Accounting Principles) net earnings of $172.4 million, or diluted earnings per
share of $1.82 versus third quarter 2025 net earnings of $170.8 million, or
$1.76 per diluted share.
“I want to thank our people for their unwavering commitment to serving our
customers, operating safely and executing with excellence every day. Their
discipline and focus enabled us to meet customer needs, improve our operations,
and continue providing excellent service,” said Shelley Simpson, president and
CEO. We remain confident in our strategy and are building the capabilities
needed to support our customers' evolving needs, strengthen our competitive
position and drive long-term profitable growth for our shareholders.”
Total operating revenue for the current quarter was $3.68 billion compared with
$3.05 billion for the third quarter 2025, an increase of 20%. Current quarter
total operating revenue, excluding fuel surcharge revenue, increased 13% versus
the third quarter 2025. The increase in revenue, excluding fuel surcharge
revenue, was primarily driven by an 8% increase in Intermodal (JBI) loads, a 27%
increase in Integrated Capacity Solutions (ICS) revenue per load, excluding fuel
surcharge revenue, and a 29% increase in Truckload (JBT) revenue per load,
excluding fuel surcharge revenue, partially offset by a 10% decline in Final
Mile Services (FMS) stops.
Operating income for the current quarter increased 2% to $247.1 million versus
$242.7 million for the third quarter 2025. The increase in operating income was
primarily driven by higher revenue, improved productivity across the
organization and lower equipment storage and facility rental expenses. These
were partially offset by higher purchase transportation and increased
professional driver personnel expenses, higher equipment- related cost and
increased insurance and group medical claims expense compared to the prior year
period. On a consolidated basis, operating income as a percentage of gross
revenue decreased year-over-year as a result of higher purchased transportation,
fuel and fuel taxes, and increased insurance claims expenses as a percentage of
gross revenue.
Net interest expense for the current quarter decreased compared to third quarter
2025 due to a lower average consolidated debt balance partially offset by a
modestly higher average interest rate
The effective income tax rate in the current quarter was 25.5% versus 24.0% in
the third quarter 2025 due to the timing of certain discrete tax items. We
expect our 2026 full year annual tax rate to be approximately 24.0%.
Segment Information:
Intermodal (JBI)
■ Third Quarter 2026 Segment Revenue: $1.83 billion; up 20%
■ Third Quarter 2026 Operating Income: $147.5 million; up 18%
Intermodal volume increased 8% over the same period in 2025. Transcontinental
network loads increased 1%, while Eastern network loads increased 18% compared
to the third quarter 2025. Overall demand for our intermodal service was strong
throughout the quarter driven by the strong value proposition intermodal
presents to customers. In the Eastern network, we continue to see strong demand
for road-to-rail conversion. Segment gross revenue increased 20% from the prior-
year period, reflecting an 11% increase in gross revenue per load, resulting
from higher fuel surcharge revenue, customer rates and changes in mix of
freight, and the 8% increase in volume. Revenue per load excluding fuel
surcharge revenue increased 2% year-over-year.
Operating income increased 18% compared to the prior year period in the third
quarter primarily from improved network balance and efficiency improvements,
continued discipline and execution on our initiative to lower our cost to serve
and lower container storage expense. These were partially offset by higher
professional driver personnel expense, higher equipment-related cost and
increased insurance and group medical claims expense.
Dedicated Contract Services (DCS)
■ Third Quarter 2026 Segment Revenue: $960 million; up 11%
■ Third Quarter 2026 Operating Income: $81.7 million; down 22%
DCS revenue increased 11% during the current quarter over the same period 2025
driven by a 10% improvement in productivity (revenue per truck per week) and a
1% increase in average trucks. Productivity excluding fuel surcharge revenue
increased 3% from a year ago driven by contracted indexed-based price escalators
and a decline in idled tractor equipment. On a net basis, there were 162
additional revenue producing trucks in the fleet by the end of the quarter
compared to the prior-year period and 120 more versus the end of the second
quarter 2026. Customer retention rates remain at approximately 96%.
Operating income decreased 22% from the prior-year quarter. The decrease was
driven by higher professional driver personnel expense, increased group medical
claims, higher expenses related to insurance premiums and equipment, and
increased new business onboarding expense, compared to the prior year period.
Integrated Capacity Solutions (ICS)
■ Third Quarter 2026 Segment Revenue: $434 million; up 57%
■ Third Quarter 2026 Operating $9.6 million; vs. $(0.8) million in
Income/(Loss): Q3'25
ICS revenue increased 57% during the current quarter versus the third quarter
2025. Overall segment volume increased 22% versus the prior-year period with
growth in both published and spot volume. Revenue per load increased 29%
compared to the third quarter 2025 due to increases in both contractual and
transactional rates. Contractual volume represented approximately 63% of the
total load volume and 58% of the total revenue in the current quarter compared
to 63% and 64%, respectively, in third quarter 2025.
Operating income was $9.6 million compared to an operating loss of $0.8 million
in the third quarter 2025. Operating results improved from the prior-year
quarter primarily due to an increase in gross profit driven by increases in both
revenue per load and volume, partially offset by higher personnel-related and
insurance claims expense. Gross profit margin of 14.3% in the third quarter of
2026 declined compared to 15.0% in the prior year period but improved from 12.5%
in the second quarter of 2026.
Final Mile Services (FMS)
■ Third Quarter 2026 Segment Revenue: $200 million; down 3%
■ Third Quarter 2026 Operating Income: $1.6 million; down 76%
FMS revenue decreased 3% compared to the same period 2025. The decrease in
revenue was primarily driven by known business losses given our ongoing efforts
to improve revenue quality and profitability across the portfolio. The decrease
in segment gross revenue was partially offset by stabilizing demand across many
of our end markets and improved revenue quality across various accounts.
Operating income decreased 76% compared to the prior-year period primarily
driven by the decline in segment revenue along with higher purchased
transportation expense. The decline in operating income was partially offset by
lower personnel-related and facility rental expenses along with continued
progress on the initiative to lower our cost to serve.
Truckload (JBT)
■ Third Quarter 2026 Segment Revenue: $261 million; up 37%
■ Third Quarter 2026 Operating Income: $7.0 million; down 6%
JBT segment gross revenue increased 37% compared to the same period in the
previous year. Segment gross revenue excluding fuel surcharge revenue increased
34% driven by a 29% increase in gross revenue per load excluding fuel surcharge
revenue and a 4% increase in load volume. Total average effective trailer count
decreased by approximately 60 units, or 1% versus the prior-year period.
Compared to the third quarter 2025, trailer turns in the quarter were up 3%,
primarily due to better network balance, improved asset utilization and modestly
higher load volume.
JBT segment operating income decreased 6% to $7.0 million versus the third
quarter 2025. The decrease in operating income was primarily driven by higher
purchase transportation expense and equipment-related costs, partially offset by
continued disciplined cost management and the benefits of a more balanced
network. JBT segment operating income as a percentage of segment gross revenue
decreased year-over-year primarily due to higher third-party capacity costs as a
percentage of revenue.
Cash Flow and Capitalization:
At September 30, 2026, we had approximately $1.12 billion outstanding on various
debt instruments compared to $1.60 billion at September 30, 2025 and $1.47
billion at December 31, 2025.
Our net capital expenditures for the nine months ended September 30, 2026
approximated $291.1 million compared to $490.9 million for the same period 2025.
At September 30, 2026, we had cash and cash equivalents of approximately $4
million.
In the third quarter 2026, we purchased approximately 704,000 shares of common
stock for approximately $174 million. At September 30, 2026, we had
approximately $619 million remaining under our share repurchase authorization.
Actual shares outstanding at September 30, 2026 approximated 93.2 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 . 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, .
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 .
J.B. HUNT TRANSPORT SERVICES, INC.
Condensed Consolidated Statements of Earnings
(in thousands, except per share data)
(unaudited)
Three
Mont…
Ended
Sept…
30
2026 2025
% Of % Of
Amou… Reve… Amou… Reve…
──────────────────────────────────────────────────────────────────────────────
Ope…
rev…
exc… $ 3,00… $ 2,6…
fuel
sur…
rev…
Fuel
sur… 670,… 385…
rev…
Tot…
ope… 3,67… 100.0 % 3,0… 100… %
rev…
Ope…
exp…
Ren…
and 1,75… 47.8 % 1,3… 43.6 %
pur…
tra…
Sal…
wag…
and 876,… 23.8 % 822… 26.9 %
emp…
ben…
Fuel
and 260,… 7.1 % 164… 5.4 %
fuel
tax…
Dep…
and 183,… 5.0 % 179… 5.9 %
amo…
Ope…
sup… 147,… 4.0 % 132… 4.3 %
and
exp…
Ins…
and 100,… 2.7 % 82,… 2.7 %
cla…
Gen…
and
adm…
exp… 72,2… 2.1 % 69,… 2.3 %
inc…
ass…
dis…
Ope…
tax… 19,7… 0.5 % 18,… 0.6 %
and
lic…
Com…
and 10,4… 0.3 % 10,… 0.4 %
uti…
Tot…
ope… 3,42… 93.3 % 2,8… 92.1 %
exp…
Ope… 247,… 6.7 % 242… 7.9 %
inc…
Net
int… 15,6… 0.4 % 17,… 0.5 %
exp…
Ear…
bef… 231,… 6.3 % 224… 7.4 %
inc…
tax…
Inc… 58,9… 1.6 % 53,… 1.8 %
tax…
Net $ 172,… 4.7 % $ 170… 5.6 %
ear…
Ave…
dil… 94,6… 96,…
sha…
out…
Dil…
ear… $ 1.82 $ 1.76
per
sha…
Nine
Mont…
Ended
Sept…
30
2026 2025
% Of % Of
Amou… Reve… Amou… Reve…
──────────────────────────────────────────────────────────────────────────────
Ope…
rev…
exc… $ 8,50… $ 7,8…
fuel
sur…
rev…
Fuel
sur… 1,72… 1,0…
rev…
Tot…
ope… 10,2… 100.0 % 8,9… 100… %
rev…
Ope…
exp…
Ren…
and 4,83… 47.3 % 3,8… 43.7 %
pur…
tra…
Sal…
wag…
and 2,48… 24.3 % 2,4… 27.4 %
emp…
ben…
Fuel
and 670,… 6.6 % 477… 5.4 %
fuel
tax…
Dep…
and 543,… 5.3 % 535… 6.0 %
amo…
Ope…
sup… 412,… 4.0 % 384… 4.3 %
and
exp…
Ins…
and 277,… 2.7 % 251… 2.8 %
cla…
Gen…
and
adm…
exp… 199,… 1.9 % 216… 2.5 %
inc…
ass…
dis…
Ope…
tax… 57,2… 0.6 % 53,… 0.6 %
and
lic…
Com…
and 31,6… 0.3 % 32,… 0.4 %
uti…
Tot…
ope… 9,51… 93.0 % 8,2… 93.1 %
exp…
Ope… 713,… 7.0 % 618… 6.9 %
inc…
Net
int… 50,3… 0.5 % 57,… 0.6 %
exp…
Ear…
bef… 663,… 6.5 % 560… 6.3 %
inc…
tax…
Inc… 168,… 1.7 % 143… 1.6 %
tax…
Net $ 495,… 4.8 % $ 417… 4.7 %
ear…
Ave…
dil… 94,9… 98,…
sha…
out…
Dil…
ear… $ 5.21 $ 4.24
per
sha…
Financial Information By Segment
(in thousands)
(unaudited)
Three
Mont…
Ended
Sept…
30
2026 2025
% Of % Of
Amou… Total Amo… Tot…
Rev…
──────────────────────────────────────────────────────────────────────────────
Int… $ 1,82… 50 % $ 1,52… 50 %
Ded… 960,… 26 % 864,… 28 %
Int…
Cap… 433,… 12 % 276,… 9 %
Sol…
Fin…
Mile 200,… 5 % 206,… 7 %
Ser…
Tru… 260,… 7 % 189,… 6 %
Sub… 3,68… 100 % 3,05… 100 %
Int… (5,7… ) (0 %) (4,1… ) (0 %)
eli…
Con… $ 3,67… 100 % $ 3,05… 100 %
rev…
Ope…
inc…
Int… $ 147,… 60 % $ 125,… 52 %
Ded… 81,7… 33 % 104,… 43 %
Int…
Cap… 9,578 4 % (752 ) (0 %)
Sol…
Fin…
Mile 1,634 1 % 6,913 2 %
Ser…
Tru… 6,996 2 % 7,436 3 %
Oth… (315 ) (0 %) (225 ) (0 %)
(1)
Ope… $ 247,… 100 % $ 242,… 100 %
inc…
Nine
Mont…
Ended
Sept…
30
2026 2025
% Of % Of
Amou… Total Amo… Tot…
Rev…
──────────────────────────────────────────────────────────────────────────────
Int… $ 5,08… 50 % $ 4,42… 50 %
Ded… 2,72… 26 % 2,53… 28 %
Int…
Cap… 1,14… 11 % 804,… 9 %
Sol…
Fin…
Mile 586,… 6 % 617,… 7 %
Ser…
Tru… 705,… 7 % 533,… 6 %
Sub… 10,2… 100 % 8,91… 100 %
Int… (16,… ) (0 %) (13,… ) (0 %)
eli…
Con… $ 10,2… 100 % $ 8,90… 100 %
rev…
Ope…
inc…
Int… $ 412,… 58 % $ 315,… 51 %
Ded… 271,… 38 % 278,… 45 %
Int…
Cap… 6,622 1 % (6,9… ) (1 %)
Sol…
Fin…
Mile 14,3… 2 % 19,5… 3 %
Ser…
Tru… 8,378 1 % 12,8… 2 %
Oth… (185 ) (0 %) (224 ) (0 %)
(1)
Ope… $ 713,… 100 % $ 618,… 100 %
inc…
(1) Includes corporate support activity
Operating Statistics by Segment
(unaudited)
Three Months Ended
September 30
2026 2025
Intermodal
Loads 585,582 539,907
Average length of 1,598 1,643
haul
Revenue per load $ 3,121 $ 2,816
Average tractors
during the period 6,371 6,361
*
Tractors (end of 6,439 6,388
period) *
Trailing equipment 124,180 125,105
(end of period)
Average effective
trailing equipment 114,394 104,573
usage
Dedicated
Loads 1,023,096 992,032
Average length of 169 175
haul
Revenue per truck $ 5,732 $ 5,209
per week**
Average trucks
during the 12,791 12,718
period***
Trucks (end of 12,864 12,702
period) ***
Trailing equipment 35,056 32,240
(end of period)
Average effective
trailing equipment 36,834 33,152
usage
Integrated
Capacity Solutions
Loads 164,462 135,309
Revenue per load $ 2,638 $ 2,042
Gross profit 14.3 % 15.0 %
margin
Employee count 722 563
(end of period)
Final Mile
Services
Stops 876,409 971,244
Average trucks
during the 1,173 1,296
period***
Truckload
Loads 119,450 115,269
Revenue per load $ 2,183 $ 1,646
Average length of 563 576
haul
Tractors (end of
period)
Company-owned - -
Independent 2,221 2,091
contractor
Total tractors 2,221 2,091
Trailers (end of 12,639 12,676
period)
Average effective
trailing equipment 12,046 12,107
usage
* Includes company-owned and independent contractor tractors
** Using weighted workdays
*** Includes company-owned, independent contractor, and customer-owned trucks
Operating Statistics by Segment
(unaudited)
Nine Months Ended
September 30
2026 2025
Intermodal
Loads 1,700,506 1,586,889
Average length of 1,599 1,644
haul
Revenue per load $ 2,991 $ 2,790
Average tractors
during the period 6,256 6,389
*
Tractors (end of 6,439 6,388
period) *
Trailing
equipment (end of 124,180 125,105
period)
Average effective
trailing 111,593 104,967
equipment
usage
Dedicated
Loads 2,960,921 2,927,698
Average length of 171 178
haul
Revenue per truck $ 5,539 $ 5,167
per week**
Average trucks
during the 12,696 12,677
period***
Trucks (end of 12,864 12,702
period) ***
Trailing
equipment (end of 35,056 32,240
period)
Average effective
trailing 35,276 33,032
equipment
usage
Integrated
Capacity
Solutions
Loads 473,137 405,367
Revenue per load $ 2,420 $ 1,985
Gross profit 13.1 % 15.3 %
margin
Employee count 722 563
(end of period)
Final Mile
Services
Stops 2,543,050 2,890,504
Average trucks
during the 1,200 1,322
period***
Truckload
Loads 351,585 314,770
Revenue per load $ 2,007 $ 1,694
Average length of 581 603
haul
Tractors (end of
period)
Company-owned - -
Independent 2,221 2,091
contractor
Total tractors 2,221 2,091
Trailers (end of 12,639 12,676
period)
Average effective
trailing 12,250 12,116
equipment
usage
* 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)
September 30, 2026 December 31, 2025
──────────────────────────────────────────────────────────────────────────────
ASSETS
Current assets:
Cash and cash $ 3,750 $ 17,284
equivalents
Accounts Receivable, 1,611,490 1,160,371
net
Prepaid expenses and 322,145 426,535
other
Total current assets 1,937,385 1,604,190
Property and equipment 9,481,199 9,348,370
Less accumulated 4,117,561 3,810,269
depreciation
Net property and 5,363,638 5,538,101
equipment
Other assets, net 786,090 784,864
$ 8,087,113 $ 7,927,155
LIABILITIES &
STOCKHOLDERS' EQUITY
Current liabilities:
Current debt $ - $ 699,859
Trade accounts payable 889,520 655,604
Claims accruals 334,394 310,339
Accrued payroll 167,987 110,388
Other accrued expenses 186,180 159,153
Total current 1,578,081 1,935,343
liabilities
Long-term debt 1,123,837 766,938
Long-term claims 501,893 444,479
accruals
Other long-term 342,254 307,005
liabilities
Deferred income taxes 907,345 908,305
Stockholders' equity 3,633,703 3,565,085
$ 8,087,113 $ 7,927,155
Supplemental Data
(unaudited)
September 30, 2026 December 31, 2025
──────────────────────────────────────────────────────────────────────────────
Actual shares
outstanding at end of 93,219 94,595
period (000)
Book value per actual
share outstanding $ 38.98 $ 37.69
at end of period
Nine Months Ended
September 30
2026 2025
──────────────────────────────────────────────────────────────────────────────
Net cash provided
by operating $ 1,108,428 $ 1,292,674
activities (000)
Net capital $ 291,133 $ 490,919
expenditures (000)