J.B. Hunt Earns Seventh Place on FreightWaves FreightTech 25 List of Innovative and Disruptive Companies

Rhea-AI Summary

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) ranked seventh on FreightWaves’ 2023 FreightTech 25 list, marking its fifth consecutive year receiving this recognition. Innovations in technology and logistics have driven its growth, including enhancements to the J.B. Hunt 360° platform, expansion of the J.B. Hunt 360box® freight program, and a partnership with Waymo for autonomous transport. The company aims to grow its intermodal fleet to 150,000 containers in the next few years to address capacity constraints, demonstrating its commitment to improving transportation efficiency in North America.

Positive

• Ranked seventh on FreightWaves' 2023 FreightTech 25 list, indicating strong industry recognition.
• Significant investments in technology with the J.B. Hunt 360° platform to enhance operational capabilities.
• Expansion of the J.B. Hunt 360box® program with over 13,000 trailers improving efficiency for shippers and carriers.
• Plans to grow intermodal fleet to 150,000 containers to address capacity constraints.
• Strategic alliance with Waymo to advance autonomous transport initiatives.

Negative

• None.

LOWELL, Ark.--(BUSINESS WIRE)-- J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT), one of the largest supply chain solutions providers in North America, today announced it ranked seventh on FreightWaves’ 2023 FreightTech 25 list recognizing the most innovative and disruptive companies in the transportation industry.

“Innovation and creativity play an integral role in every aspect of our business,” said Shelley Simpson, president at J.B. Hunt. “As we continue to embrace the transformation of the transportation logistics industry, it is our focus to generate new opportunities and create value for our customers by leveraging the expertise of our people, our industry-leading technology, and our capacity to deliver.”

The 2023 FreightTech 25 were revealed during the F3: Future of Freight Festival on November 3, marking the fifth consecutive year J.B. Hunt has received the distinction. Companies selected for the FreightTech 25 are among those in the FreightTech 100, a list compiled by FreightWaves based on an external group of CEOs, leaders, and additional industry professionals. The FreightTech 25 are determined by a point system in which each panelist ranks the companies from 1 to 25, and those earning the highest points receive the honor. The full list is available on the FreightWaves website.

Over the last year, J.B. Hunt has made significant advancements that further its mission to create the most efficient transportation network in North America:

• The company has made substantial investments in its technology platform, J.B. Hunt 360^°® to expand reach and capability, enhance visibility of freight to more carriers, streamline the booking process and reduce or eliminate ineffective daily tasks.
• J.B. Hunt expanded its drop-and-hook freight program J.B. Hunt 360box^® with more than 13,000 trailers available. With its ability to turn loads faster, reduce empty miles and improve driver productivity, 360box continues to improve efficiency for shippers and carriers.
• In March, J.B. Hunt announced it plans to grow its intermodal fleet to as many as 150,000 containers in the next three to five years as part of a joint initiative with BNSF Railway to relieve capacity constraints.
• Since opening its first transloading service facility in November 2021, J.B. Hunt has launched three additional operations, expanding its transloading service footprint to encompass four of the largest ocean ports and the largest land port of entry into the U.S.
• J.B. Hunt announced a long-term, strategic alliance with Waymo in January to complete the first fully autonomous transport in the upcoming years. The two launched an ongoing pilot in June to deliver goods for J.B. Hunt customer Wayfair, one of the world’s largest destinations for the home.

J.B. Hunt operates one of the largest company-owned fleets in North America with approximately 113,000 intermodal containers, 24,000 tractors and 41,000 trailers. The company’s J.B. Hunt 360 technology platform is an industry leader in digital freight matching and provides shippers with access to nearly one million trucks through qualified third-party carriers across the country.

About J.B. Hunt

J.B. Hunt Transport Services, Inc., a Fortune 500 and S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America. Utilizing an integrated, multimodal approach, the company applies technology-driven methods to create the best solution for each customer, adding efficiency, flexibility, and value to their operations. J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, last mile, and more. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221103005851/en/

Brittnee Davie

Vice President - Marketing

479.419.3178

press@jbhunt.com

Source: J.B. Hunt Transport Services, Inc.

FAQ

What did J.B. Hunt announce on November 3, 2023?

J.B. Hunt announced it ranked seventh on FreightWaves’ 2023 FreightTech 25 list, highlighting its status as an innovative company in transportation.

How many times has J.B. Hunt been recognized on the FreightTech 25 list?

J.B. Hunt has been recognized on the FreightTech 25 list for five consecutive years.

What is the J.B. Hunt 360° technology platform?

The J.B. Hunt 360° technology platform is a digital freight matching system that enhances operational efficiency and visibility for shippers and carriers.

What is the significance of J.B. Hunt's partnership with Waymo?

The partnership with Waymo aims to complete the first fully autonomous transport, showcasing J.B. Hunt's commitment to innovation in logistics.