Companies · JBHT
J.B. Hunt Transport
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Latest analysis
Updated Jul 24, 2026
J.B. Hunt Q2 2026: JBI volume surge and fuel-driven revenue lift mask tightening third-party capacity costs across ICS and JBT segments.
J.B. Hunt posted $3.50 billion in Q2 2026 consolidated revenue, a 19% increase versus Q2 2025, driven primarily by a 10% volume increase and 11% revenue-per-load gain in JBI intermodal, alongside a 49% ICS revenue surge on tighter spot and contract rates. Operating income expanded to $259.5 million from $197.3 million, with operating margin improving 70 basis points to 7.4%. The critical offset: purchased transportation costs rose 32.4% in Q2 2026, compressing ICS gross margins to 12.5% from 15.5% and pushing JBT to an operating loss, signaling that tightening third-party carrier capacity is now a structural cost headwind across the brokerage and truckload segments.
Tone: mixedRevenue
$12B
JBHT 10-K · FY 2025
Employees
31,750
Revenue FY2024
$12.1B
Founded
1961
Profile
JBHT 10-K Item 1 · Feb 24, 2026J.B. Hunt Transport Services is one of the largest surface transportation, delivery, and logistics companies in North America, operating five segments: Intermodal, Dedicated Contract Services, Integrated Capacity Solutions, Final Mile Services, and Truckload. The company serves a diverse customer base including many Fortune 500 companies across the continental United States, Canada, and Mexico. Its multimodal strategy combines company-owned assets, rail partnerships, and third-party carrier networks to provide capacity-oriented supply chain solutions.
Read filing description ↓ Collapse description ↑
We are one of the largest surface transportation, delivery, and logistics companies in North America. J.B. Hunt Transport Services, Inc. is a publicly held holding company that, through our wholly owned subsidiaries, provides a wide range of reliable transportation, brokerage, and delivery services to a diverse group of customers and consumers throughout the continental United States, Canada, and Mexico. Our service offerings include transportation of full-truckload containerized freight, which we directly transport utilizing our company-controlled revenue equipment and company drivers, independent contractors or third-party carriers. We have arrangements with most of the major North American rail carriers to transport freight in containers or trailers, while we perform the majority of the pickup and delivery services. We also provide customized freight movement, revenue equipment, labor, systems, and delivery services that are tailored to meet individual customers' requirements and typically involve long-term contracts. These arrangements are generally referred to as dedicated services and may include multiple pickups and drops, freight handling, specialized equipment, and freight network design. In addition, we provide or arrange for local and home delivery services, generally referred to as last-mile delivery services, to customers through a network of cross-dock and other delivery system locations throughout the continental United States. Utilizing thousands of reliable third-party carriers, we also provide comprehensive freight transportation brokerage and logistics services. In addition to dry-van, full-load operations, we also arrange for these unrelated outside carriers to provide flatbed, refrigerated, less-than-truckload (LTL), and other specialized equipment, drivers, and services. Also, we utilize contracted power units to provide traditional over-the-road full truckload delivery services. Our customers, who include many Fortune 500 companies, have extremely diverse businesses. Many of them are served by J.B. Hunt 360, an online platform that offers shippers and carriers greater access, visibility and transparency of the supply chain.
Primary products
- Intermodal freight transportation (JBI)
- Dedicated Contract Services (DCS)
- Integrated Capacity Solutions / freight brokerage (ICS)
- Final Mile Services / last-mile delivery (FMS)
- Full-load dry-van truckload (JBT)
- J.B. Hunt 360 online multimodal marketplace
Business segments
End markets
Geographies
Named customers
We derive a significant portion of our revenue from a few major customers, the loss of one or more of which could have a material adverse effect on our business.
“We believe our ability to offer multiple services, utilizing our existing lines of business and a full complement of logistics services through third parties, represents a competitive advantage.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total operating revenues declined modestly in 2025 versus 2024, driven by a slight decrease in both base freight revenues and fuel surcharge revenues across the business.
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