J.B. Hunt Transport Services, Inc. (JBHT)

Sector: Industrials|Industry: Integrated Freight & Logistics|Market Cap: $17.73B|Employees: 34.7K


J.B. Hunt Transport Services, Inc. is a large surface transportation, delivery, and logistics company in North America. They provide a wide range of transportation, brokerage, and delivery services to diverse customers across the United States, Canada, and Mexico. J.B. Hunt leverages its own assets and third-party carriers through an integrated, multimodal approach, utilizing technology to offer a variety of solutions and maintain a competitive advantage.

  1. Filings
  2. Company Profile

Business Summary

J.B. Hunt Transport Services, Inc. is a publicly held holding company that provides a wide range of transportation, delivery, and logistics services throughout the continental United States, Canada, and Mexico. The company's core business model involves utilizing company-controlled revenue equipment, company drivers, independent contractors, and third-party carriers to transport full-truckload containerized freight. J.B. Hunt also provides customized freight movement, dedicated services, and last-mile delivery services. The company's competitive advantage lies in its integrated, multimodal approach and its online platform, J.B. Hunt 360, which offers shippers and carriers greater access, visibility, and transparency of the supply chain.

Key Statistics

  • Employees: 34,718 (as of December 31, 2023)
  • Geographic Footprint: Continental United States, Canada, and Mexico
  • Headquarters: Lowell, Arkansas
  • Founded: 1961
  • Number of locations/facilities: 55 significant facilities across the United States, 123 FMS cross-dock and delivery system network locations, and multiple remote sales offices or branches in the ICS segment.
  • Revenue: $12.83 billion (FY2023)
  • Key Subsidiaries/Brands: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT)

Leadership

  • CEO: John N. Roberts, III
  • CFO: John Kuhlow
  • Board Chair: Kirk Thompson
  • Other Key Executives: Not specified in the provided document.

The provided document does not include background information on key leaders' tenure and experience.

Key Financial Metrics

  • Annual Revenue: $12.83 billion (FY2023)
  • Net Income: $728.287 million
  • Total Assets: $8.538 billion
  • Number of Employees: 34,718 (as of December 31, 2023)
  • Key Financial Highlights: Revenue decreased by 13.4% compared to 2022. Operating expenses decreased by 12.2% compared to 2022. Fuel surcharge revenues decreased by 23.9%.

Products and Services

J.B. Hunt offers a range of transportation and logistics services:

  • Intermodal (JBI): Transportation of freight via rail and truck.
  • Dedicated Contract Services (DCS): Customized freight solutions with company-owned or customer-owned equipment and drivers.
  • Integrated Capacity Solutions (ICS): Freight brokerage and logistics solutions through third-party carriers.
  • Final Mile Services (FMS): Last-mile delivery services, including big and bulky delivery and installation.
  • Truckload (JBT): Full-load, dry-van freight transportation.

Key Business Segments

The company operates through five main segments:

  • Intermodal (JBI): $6.21 billion in revenue (FY2023)
  • Dedicated Contract Services (DCS): $3.54 billion in revenue (FY2023)
  • Integrated Capacity Solutions (ICS): $1.39 billion in revenue (FY2023)
  • Final Mile Services (FMS): $918 million in revenue (FY2023)
  • Truckload (JBT): $789 million in revenue (FY2023)

Business Strategy

J.B. Hunt's strategy is based on an integrated, multimodal approach to provide capacity-oriented solutions centered on delivering customer value and industry-leading service. The company focuses on energy-efficient transportation solutions, maintaining a modern fleet, and utilizing technology to optimize freight flows. Key initiatives include expanding the J.B. Hunt 360 platform, testing alternative fuel vehicles, and improving fleet fuel efficiency. The company aims to drive long-term value for its people, customers, and shareholders.

Industry Context

The freight transportation market is highly fragmented and competitive. J.B. Hunt competes with other intermodal marketing companies, full-load carriers, private fleets, and non-asset-based logistics companies. The company competes primarily on price, on-time service, equipment capacity, and carrier availability. Key market trends include the increasing demand for energy-efficient transportation solutions and the use of technology to optimize supply chains.

Risk Factors

  • Economic Conditions: The company's business is impacted by economic conditions, customer business cycles, and seasonal factors, which can reduce freight volumes and rates.
  • Health Pandemics: National or international health pandemics can disrupt operations of customers and third-party suppliers, potentially impacting the company's financial results.
  • Weather Conditions: Extreme weather conditions can disrupt operations, impact freight volumes, and increase costs.
  • Environmental Regulations: The company is subject to various environmental laws and regulations, including climate change policies, which could result in significant expenditures and penalties.
  • Third-Party Dependence: The company relies on railroads, independent contractors, and third-party carriers, and disruptions or issues with these parties could adversely affect operations.

Last Updated

2024-02-23

(Generated from latest 10-K filing)