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J.B. Hunt Transport Services, Inc. Reports U.S. GAAP Revenues, Net Earnings and Earnings Per Share for Both the Fourth Quarter and Year Ended December 31, 2024

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J.B. Hunt Transport Services (JBHT) reported Q4 2024 financial results with mixed performance. Revenue decreased 5% to $3.15 billion, while operating income increased 2% to $207.0 million. Q4 diluted EPS rose 4% to $1.53 from $1.47 year-over-year.

The revenue decline was primarily attributed to lower revenue per load in Intermodal and Truckload segments, a 4% decline in Dedicated Contract Services trucks, and a 22% drop in Integrated Capacity Solutions load volume. However, Intermodal volume increased 5%, and DCS productivity improved 2%.

For full-year 2024, revenue fell 6% to $12.09 billion, operating income decreased 16% to $831 million, and diluted EPS declined 20% to $5.56. The company repurchased approximately 489,000 shares for $86 million in Q4, with $882 million remaining under its share repurchase authorization.

J.B. Hunt Transport Services (JBHT) ha riportato i risultati finanziari del quarto trimestre 2024 con una performance mista. I ricavi sono diminuiti del 5% a $3,15 miliardi, mentre l'utile operativo è aumentato del 2% a $207,0 milioni. L'EPS diluito del quarto trimestre è aumentato del 4% a $1,53 rispetto a $1,47 dell'anno precedente.

Il calo dei ricavi è stato principalmente attribuito a una riduzione dei ricavi per carico nei segmenti Intermodale e Truckload, a una diminuzione del 4% nei camion dei Servizi Contrattuali Dedicati e a un ribasso del 22% nel volume di carichi delle Soluzioni Capacitive Integrate. Tuttavia, il volume intermodale è aumentato del 5% e la produttività dei DCS è migliorata del 2%.

Per l'intero anno 2024, i ricavi sono diminuiti del 6% a $12,09 miliardi, l'utile operativo è diminuito del 16% a $831 milioni e l'EPS diluito è calato del 20% a $5,56. L'azienda ha riacquistato circa 489.000 azioni per $86 milioni nel quarto trimestre, con $882 milioni rimanenti sotto la propria autorizzazione per il riacquisto di azioni.

J.B. Hunt Transport Services (JBHT) reportó resultados financieros del cuarto trimestre de 2024 con un desempeño mixto. Los ingresos disminuyeron un 5% a $3.15 mil millones, mientras que el ingreso operativo aumentó un 2% a $207.0 millones. El EPS diluido del cuarto trimestre aumentó un 4% a $1.53 desde $1.47 en comparación con el año anterior.

La disminución de ingresos se atribuyó principalmente a menores ingresos por carga en los segmentos Intermodal y Truckload, una caída del 4% en los camiones de Servicios Contratados Dedicados y una caída del 22% en el volumen de carga de Soluciones de Capacidad Integrada. Sin embargo, el volumen intermodal aumentó un 5%, y la productividad de DCS mejoró un 2%.

Para el año completo 2024, los ingresos cayeron un 6% a $12.09 mil millones, el ingreso operativo disminuyó un 16% a $831 millones, y el EPS diluido cayó un 20% a $5.56. La compañía recompró aproximadamente 489,000 acciones por $86 millones en el cuarto trimestre, con $882 millones restantes bajo su autorización de recompra de acciones.

J.B. Hunt Transport Services (JBHT)는 2024년 4분기 재무 결과를 발표했으며, 성과는 엇갈렸다. 매출은 5% 감소하여 $31.5억이 되었고, 영업 이익은 2% 증가하여 $2.07억이 되었다. 4분기 희석 주당 순이익(EPS)은 전년 동기의 $1.47에서 $1.53로 4% 상승했다.

매출 감소는 주로 인터모달 및 화물 적재 부문에서 적재당 수익이 떨어졌고, 전용 계약 서비스 트럭 수가 4% 감소했으며, 통합 용량 솔루션의 적재량이 22% 감소한 데 기인한다. 그러나 인터모달 적재량은 5% 증가했으며, DCS의 생산성은 2% 개선되었다.

2024년 전체 연도에 대한 매출은 6% 감소하여 $120.9억이 되었으며, 영업 이익은 16% 감소하여 $8.31억이 되었고, 희석 주당 순이익(EPS)은 20% 감소하여 $5.56이 되었다. 회사는 4분기 동안 약 489,000주를 8,600만 달러에 재매입했으며, 주식 재매입 승인 하에 8억 8,200만 달러가 남아 있다.

J.B. Hunt Transport Services (JBHT) a publié des résultats financiers pour le quatrième trimestre 2024 avec une performance mitigée. Les revenus ont diminué de 5 % pour atteindre $3,15 milliards, tandis que le résultat opérationnel a augmenté de 2 % pour atteindre $207,0 millions. Le BPA dilué du quatrième trimestre a progressé de 4 % pour atteindre $1,53, contre $1,47 l'année précédente.

La baisse des revenus a été principalement attribuée à la baisse des revenus par chargement dans les segments intermodal et de transport de marchandises, à une baisse de 4 % des camions des services contractuels dédiés et à une chute de 22 % du volume de chargement des solutions de capacité intégrées. Cependant, le volume intermodal a augmenté de 5 % et la productivité des DCS a progressé de 2 %.

Pour l'année entière 2024, les revenus ont chuté de 6 % pour atteindre $12,09 milliards, le résultat opérationnel a diminué de 16 % pour atteindre $831 millions, et le BPA dilué a baissé de 20 % pour s'établir à $5,56. L'entreprise a racheté environ 489 000 actions pour 86 millions de dollars au quatrième trimestre, avec 882 millions de dollars restants sous son autorisation de rachat d'actions.

J.B. Hunt Transport Services (JBHT) hat die finanziellen Ergebnisse für das 4. Quartal 2024 mit gemischter Leistung bekannt gegeben. Der Umsatz sank um 5 % auf $3,15 Milliarden, während das Betriebsergebnis um 2 % auf $207,0 Millionen anstieg. Der verwässerte Gewinn pro Aktie (EPS) im 4. Quartal stieg um 4 % auf $1,53 von $1,47 im Vorjahr.

Der Rückgang des Umsatzes wurde hauptsächlich auf niedrigere Einnahmen pro Ladeeinheit in den Segmenten Intermodal und Truckload, einen Rückgang von 4 % bei den Lkw im Bereich der dedizierten Vertragsdienste und einen Rückgang von 22 % im Ladevoolumen der integrierten Kapazitätslösungen zurückgeführt. Der intermodale Volumen stieg jedoch um 5 %, und die Produktivität der DCS verbesserte sich um 2 %.

Für das Gesamtjahr 2024 fiel der Umsatz um 6 % auf $12,09 Milliarden, der Betriebsgewinn sank um 16 % auf $831 Millionen, und der verwässerte EPS ging um 20 % auf $5,56 zurück. Das Unternehmen hat im 4. Quartal etwa 489.000 Aktien für 86 Millionen Dollar zurückgekauft, wobei noch 882 Millionen Dollar im Rahmen seiner Aktienrückkaufermächtigung verbleiben.

Positive
  • Operating income increased 2% to $207.0 million in Q4
  • Q4 diluted EPS improved 4% to $1.53
  • Intermodal volume grew 5% year-over-year
  • DCS productivity increased 2% excluding fuel surcharge revenue
  • Strong share repurchase program with $882 million remaining authorization
Negative
  • Q4 revenue declined 5% to $3.15 billion
  • Full-year revenue decreased 6% to $12.09 billion
  • Full-year operating income fell 16% to $831 million
  • Full-year diluted EPS dropped 20% to $5.56
  • Integrated Capacity Solutions reported $21.8 million operating loss in Q4

Insights

The Q4 2024 results reveal a mixed performance for J.B. Hunt. Despite challenging market conditions, the company managed to increase Q4 operating income by 2% to $207.0 million, though revenue declined 5% to $3.15 billion. The most concerning metric is the full-year performance, showing a 20% drop in EPS to $5.56 from $6.97.

Key operational insights:

  • Intermodal segment showed volume growth of 5% but faced yield pressure, resulting in a 10% operating income decline
  • Dedicated Contract Services maintained strong 90% customer retention despite fleet reduction
  • ICS continues to struggle with a $21.8 million operating loss, though showing improvement in gross profit margins to 17.3%

The company's financial position remains solid with reduced debt levels at $1.48 billion and continued share repurchases of $86 million in Q4. The lower capital expenditure of $674 million in 2024 versus $1.60 billion in 2023 suggests a more conservative approach to growth investments.

The operational metrics highlight significant industry dynamics. The 5% increase in Intermodal volume, particularly strong in eastbound loads from Southern California, indicates improving port activity and retail demand. However, pricing pressure remains a challenge, evidenced by the 3% decline in revenue per load excluding fuel surcharge.

The Dedicated segment's fleet reduction of 605 trucks year-over-year reflects broader industry capacity rationalization. The 2% productivity improvement excluding fuel surcharge shows effective fleet optimization despite reduced size. The 9% improvement in Truckload trailer turns demonstrates enhanced operational efficiency, though market rates remain pressured.

The reduction in carrier base by 10% in ICS, driven by stricter carrier qualification requirements, indicates a strategic shift toward quality over quantity in capacity partnerships. This aligns with industry trends toward greater carrier scrutiny for risk management.

Market positioning analysis reveals J.B. Hunt's strategic adaptations to current transportation sector challenges. The company's focus on contractual business in ICS (63% of volume) represents a defensive stance against spot market volatility. The emphasis on Eastern network expansion (6% load growth) aligns with shifting trade patterns and near-shoring trends.

The 90% customer retention in DCS, despite fleet reductions, suggests strong customer relationships and pricing power. However, the 6% full-year revenue decline indicates broader market weakness affecting even well-positioned carriers. The reduced capex spending signals a more cautious outlook for 2025, though continued share repurchases ($86 million in Q4) demonstrate confidence in long-term value creation.

  • Fourth Quarter 2024 Revenue: $3.15 billion; down 5%
  • Fourth Quarter 2024 Operating Income: $207.0 million; up 2%
  • Fourth Quarter 2024 Diluted EPS: $1.53 vs. $1.47; up 4%
  • Full Year 2024 Revenue: $12.09 billion; down 6%
  • Full Year 2024 Operating Income: $831 million; down 16%
  • Full Year 2024 Diluted EPS: $5.56 vs. $6.97; down 20%

LOWELL, Ark.--(BUSINESS WIRE)-- J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) announced fourth quarter 2024 U.S. GAAP (United States Generally Accepted Accounting Principles) net income of $155.5 million, or diluted earnings per share of $1.53 versus fourth quarter 2023 net earnings of $153.5 million, or diluted earnings per share of $1.47.

Total operating revenue for the current quarter was $3.15 billion, compared with $3.30 billion for the fourth quarter 2023, a decrease of 5%. Current quarter total operating revenue, excluding fuel surcharge revenue, decreased 2% versus the comparable quarter 2023. This decrease was primarily driven by a 3% and 2% decline in revenue per load excluding fuel surcharge revenue in Intermodal (JBI) and Truckload (JBT) respectively, a 4% decline in average trucks in Dedicated Contract Services® (DCS®), and a 22% decline in load volume in Integrated Capacity Solutions (ICS). The revenue, excluding fuel surcharge revenue, decline was positively offset by a 5% increase in volume in JBI, a 2% increase in productivity (revenue per truck per week excluding fuel surcharge revenue) in DCS, and a 9% increase in gross revenue per load in ICS.

Operating income for the current quarter increased 2% to $207.0 million versus $203.3 million for the fourth quarter 2023. Current and prior-year quarterly operating income were negatively impacted by pre-tax charges of $16.0 million for intangible asset impairments and $53.4 million for insurance-related items, respectively. After consideration of these charges, operating income declined from the prior-year period primarily due to yield pressure in JBI, a lower average truck count in DCS, and higher consolidated equipment and insurance-related costs. On a GAAP consolidated basis, operating income as a percentage of consolidated gross revenue increased year-over-year as a result of lower rail and truck purchased transportation costs and lower insurance-related expenses. These items were partially offset by higher professional driver and non-driver wages and benefits and equipment-related costs as a percentage of gross revenue.

Net interest expense in the current quarter decreased primarily from a lower average outstanding debt balance compared to fourth quarter 2023. The fourth quarter effective tax rates for 2024 and 2023 were 19.0% and 17.9%, respectively. The annual effective tax rates for 2024 and 2023 were 24.8% and 22.1%, respectively. We expect our 2025 annual tax rate to be between 24.0% and 25.0%, based on current enacted legislation.

Segment Information:

Intermodal (JBI)

  • Fourth Quarter 2024 Segment Revenue: $1.60 billion; down 2%
  • Fourth Quarter 2024 Operating Income: $117.0 million; down 10%

Intermodal volume increased 5% over the same period in 2023. Transcontinental network loads increased 4%, while eastern network loads increased 6% compared to the fourth quarter 2023. Sequentially, volumes improved 2% from the third quarter, with stronger sequential volumes in both Eastern and Transcontinental networks. Demand trends for our intermodal service were seasonally strong during the quarter, particularly on eastbound loads out of Southern California. Revenue decreased 2% for the quarter versus the prior-year primarily driven by a 6% decrease in revenue per load resulting from changes in mix of freight, customer rates and fuel surcharge revenue, partially offset by the 5% increase in volume. Revenue per load excluding fuel surcharge revenue was down 3% year-over-year.

Operating income decreased 10% in the fourth quarter primarily from lower yields, which was only partially offset by greater volumes across the network. Repositioning costs related to network imbalances, in addition to driver hiring and onboarding expenses were elevated in the quarter to support customers’ peak season demand. JBI segment operating income as a percentage of segment gross revenue declined versus the prior-year period as a result of increases in professional driver and non-driver wages and benefits and higher equipment-related and maintenance expenses as a percentage of gross revenue. The prior-year period included $16.0 million in pre-tax charges for insurance-related items. Excluding these charges, remaining insurance-related expenses in the current quarter also contributed to a decline in segment operating income and a decline in segment operating income as a percentage of segment gross revenue.

Dedicated Contract Services (DCS)

  • Fourth Quarter 2024 Segment Revenue: $839 million; down 5%
  • Fourth Quarter 2024 Operating Income: $90.3 million; up 5%

DCS revenue decreased 5% during the current quarter over the same period in 2023, driven by a 4% decline in average trucks combined with a 1% decline in productivity (revenue per truck per week). Productivity, excluding fuel surcharge revenue, increased 2% from a year ago driven by increases in contracted indexed-based price escalators. On a net basis, there were 605 fewer revenue producing trucks in the fleet by the end of the quarter compared to the prior-year period, and 114 fewer versus the end of the third quarter 2024. Customer retention rates are approximately 90%, largely reflecting the downsizing of fleets and to a lesser extent account losses.

Operating income increased 5% from the prior-year quarter. Fourth quarter 2023 included $20.0 million in pre-tax charges for insurance-related items. Excluding these charges, operating income decreased primarily from lower revenue and higher remaining insurance-related costs, including insurance premium, casualty claim, and group medical expenses. These items were partially offset by lower bad debt expense, the maturing of new business onboarded over the trailing twelve months, and greater productivity, excluding fuel surcharge revenue, and utilization of equipment.

Integrated Capacity Solutions (ICS)

  • Fourth Quarter 2024 Segment Revenue: $308 million; down 15%
  • Fourth Quarter 2024 Operating (Loss): $(21.8) million; vs. $(24.9) million in Q4'23

ICS revenue decreased 15% in the current quarter versus the fourth quarter 2023. Overall segment volume decreased 22% versus the prior-year period. Revenue per load increased 9% compared to the fourth quarter 2023 due to higher contractual and transactional rates and changes in customer freight mix. Contractual volume represented approximately 63% of the total load volume and 63% of the total revenue in the current quarter compared to 59% and 59%, respectively, in fourth quarter 2023.

Operating loss was $21.8 million compared to an operating loss of $24.9 million in the fourth quarter 2023. Fourth quarter 2024 included $16.0 million of pre-tax intangible asset impairment charges while fourth quarter 2023 included a $9.9 million pre-tax charge for insurance-related items. Excluding these charges, operating loss improved largely due to higher gross profit and lower personnel-related expenses. These items were partially offset by higher bad debt and technology-related costs in the quarter. Gross profit increased 5% as a result of higher gross profit margins compared to the prior-year period. Gross profit margins increased to 17.3% in the current period versus 14.0% in the prior period as a result of project-related work, our disciplined bid strategy and the effective sourcing of capacity. ICS carrier base decreased 10% year-over-year, largely driven by changes to carrier qualification requirements.

Final Mile Services (FMS)

  • Fourth Quarter 2024 Segment Revenue: $228 million; down 6%
  • Fourth Quarter 2024 Operating Income: $13.2 million; up 7%

FMS revenue declined 6% compared to the same period 2023. The decline was primarily driven by general weakness in demand across many of the end markets served. The decline in revenue was partially offset by improved revenue quality at underperforming accounts and multiple new customer contracts implemented over the past year.

Operating income increased 7% compared to the prior-year period. The fourth quarter 2023 included a $3.3 million pre-tax charge for insurance-related items. Excluding these charges, operating income decreased primarily from lower revenue, and higher purchased transportation and remaining insurance-related costs. These items were partially offset by lower personnel-related costs and lower equipment and facility rental expenses.

Truckload (JBT)

  • Fourth Quarter 2024 Segment Revenue: $182 million; down 7%
  • Fourth Quarter 2024 Operating Income/(Loss): $8.6 million; vs. $(39) thousand in Q4’23

JBT revenue decreased 7% compared to the same period in the previous year. Revenue excluding fuel surcharge revenue decreased 3% primarily due to a 2% decrease in revenue per load excluding fuel surcharge revenue and flat load volume versus the prior-year period. Total average effective trailer count decreased by approximately 770 units, or 6% versus the prior-year period. Trailer turns in the quarter were up 9% from the prior period primarily due to continued focus on improving network balance and trailer utilization.

JBT operating income increased to $8.6 million from a modest operating loss in the fourth quarter 2023. Fourth quarter 2023 included $4.2 million in pre-tax charges for insurance-related items. Excluding these charges, operating income increased primarily as a result of better trailer utilization and a continued focus on cost management efforts across the segment. JBT segment operating income as a percentage of segment gross revenue increased year-over-year due to lower purchased transportation and equipment-related expenses.

Cash Flow and Capitalization:

At December 31, 2024, we had total debt outstanding of $1.48 billion on various debt instruments compared to $1.58 billion at December 31, 2023, and $1.53 billion at September 30, 2024.

Our net capital expenditures for 2024 approximated $674 million vs. $1.60 billion in 2023. At December 31, 2024, we had cash and cash equivalents of $47 million.

In the fourth quarter 2024, we purchased approximately 489,000 shares of our common stock for approximately $86 million. At December 31, 2024, we had approximately $882 million remaining under our share repurchase authorization. Actual shares outstanding on December 31, 2024, approximated 100.6 million.

Conference Call Information:

The company will hold a conference call today from 4:00–5:00 p.m. CST 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, 2023. 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 a Fortune 500 company, 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.

 
 
 

J.B. HUNT TRANSPORT SERVICES, INC.

Condensed Consolidated Statements of Earnings

(in thousands, except per share data)

(unaudited)

   

Three Months Ended December 31

2024

 

 

2023

 

 

% Of

 

 

 

 

% Of

Amount

 

Revenue

 

 

Amount

 

Revenue

   
Operating revenues, excluding fuel surcharge revenues

$

2,781,717

 

$

2,837,428

Fuel surcharge revenues

364,631

 

466,273

Total operating revenues

3,146,348

100.0%

 

3,303,701

100.0%

 

 

 

Operating expenses

 

 

 

Rents and purchased transportation

1,442,957

45.9%

 

1,557,010

47.1%

Salaries, wages and employee benefits

812,015

25.8%

 

807,422

24.4%

Depreciation and amortization

205,504

6.5%

 

194,456

5.9%

Fuel and fuel taxes

155,519

4.9%

 

187,855

5.7%

Operating supplies and expenses

124,070

3.9%

 

121,141

3.7%

Insurance and claims

86,316

2.7%

 

118,782

3.6%

General and administrative expenses, net of asset dispositions

82,476

2.7%

 

83,272

2.5%

Operating taxes and licenses

19,732

0.6%

 

19,199

0.6%

Communication and utilities

10,720

0.4%

 

11,285

0.3%

Total operating expenses

2,939,309

93.4%

 

3,100,422

93.8%

Operating income

207,039

6.6%

 

203,279

6.2%

Net interest expense

15,111

0.5%

 

16,330

0.5%

Earnings before income taxes

191,928

6.1%

 

186,949

5.7%

Income taxes

36,474

1.2%

 

33,414

1.1%

Net earnings

$

155,454

4.9%

 

$

153,535

4.6%

Average diluted shares outstanding

101,647

 

104,122

Diluted earnings per share

$

1.53

 

$

1.47

 
 
 
   

J.B. HUNT TRANSPORT SERVICES, INC.

Condensed Consolidated Statements of Earnings

(in thousands, except per share data)

(unaudited)

   

Twelve Months Ended December 31

2024

 

 

2023

 

 

% Of

 

 

 

 

% Of

Amount

 

Revenue

 

 

Amount

 

Revenue

   
Operating revenues, excluding fuel surcharge revenues $

10,557,709

  $

10,978,387

Fuel surcharge revenues

1,529,495

 

1,851,278

Total operating revenues

12,087,204

100.0%

 

12,829,665

100.0%

 

 

 

Operating expenses

 

 

 

Rents and purchased transportation

5,378,336

44.5%

 

5,872,591

45.8%

Salaries, wages and employee benefits

3,232,440

26.7%

 

3,257,484

25.4%

Depreciation and amortization

761,141

6.3%

 

737,954

5.8%

Fuel and fuel taxes

652,129

5.4%

 

751,497

5.9%

Operating supplies and expenses

495,375

4.1%

 

509,354

4.0%

Insurance and claims

313,664

2.6%

 

315,678

2.5%

General and administrative expenses, net of asset dispositions

306,355

2.5%

 

274,564

2.0%

Operating taxes and licenses

72,547

0.6%

 

74,996

0.6%

Communication and utilities

43,992

0.4%

 

42,351

0.3%

Total operating expenses

11,255,979

93.1%

 

11,836,469

92.3%

Operating income

831,225

6.9%

 

993,196

7.7%

Net interest expense

71,709

0.6%

 

58,309

0.4%

Earnings before income taxes

759,516

6.3%

 

934,887

7.3%

Income taxes

188,630

1.6%

 

206,600

1.6%

Net earnings $

570,886

4.7%

  $

728,287

5.7%

Average diluted shares outstanding

102,754

 

104,451

Diluted earnings per share $

5.56

  $

6.97

 
 
 
   

Financial Information By Segment

(in thousands)

(unaudited)

   

Three Months Ended December 31

2024

 

 

2023

 

 

% Of

 

 

 

 

% Of

Amount

 

Total

 

 

Amount

 

Total

   
Revenue  
   
Intermodal $

1,596,471

 

51%

  $

1,623,372

 

49%

Dedicated

838,529

 

27%

 

883,876

 

27%

Integrated Capacity Solutions

307,634

 

10%

 

363,661

 

11%

Final Mile Services

227,543

 

7%

 

243,164

 

7%

Truckload

181,950

 

5%

 

195,436

 

6%

Subtotal

3,152,127

 

100%

 

3,309,509

 

100%

Intersegment eliminations

(5,779

)

(0%)

 

(5,808

)

(0%)

Consolidated revenue $

3,146,348

 

100%

  $

3,303,701

 

100%

 

 

 

 

 

 

Operating income

 

 

 

 

 

 

Intermodal $

116,959

 

56%

  $

129,893

 

64%

Dedicated

90,309

 

44%

 

86,149

 

42%

Integrated Capacity Solutions

(21,811

)

(11%)

 

(24,949

)

(12%)

Final Mile Services

13,171

 

6%

 

12,295

 

6%

Truckload

8,550

 

5%

 

(39

)

(0%)

Other (1)

(139

)

(0%)

 

(70

)

(0%)

Operating income $

207,039

 

100%

  $

203,279

 

100%

   
   

Twelve Months Ended December 31

2024

 

 

2023

 

 

% Of

 

 

 

 

% Of

Amount

 

Total

 

 

Amount

 

Total

Revenue  
   
Intermodal $

5,956,092

 

49%

  $

6,207,461

 

48%

Dedicated

3,395,518

 

28%

 

3,542,869

 

28%

Integrated Capacity Solutions

1,141,475

 

9%

 

1,390,141

 

11%

Final Mile Services

910,430

 

8%

 

918,109

 

7%

Truckload

701,581

 

6%

 

789,439

 

6%

Subtotal

12,105,096

 

100%

 

12,848,019

 

100%

Intersegment eliminations

(17,892

)

(0%)

 

(18,354

)

(0%)

Consolidated revenue $

12,087,204

 

100%

  $

12,829,665

 

100%

 

 

 

 

 

 

Operating income

 

 

 

 

 

 

Intermodal $

429,877

 

52%

  $

569,383

 

57%

Dedicated

375,878

 

45%

 

404,759

 

41%

Integrated Capacity Solutions

(55,895

)

(7%)

 

(44,115

)

(4%)

Final Mile Services

60,057

 

7%

 

46,714

 

5%

Truckload

21,479

 

3%

 

16,464

 

1%

Other (1)

(171

)

(0%)

 

(9

)

(0%)

Operating income $

831,225

 

100%

  $

993,196

 

100%

   
   
(1) Includes corporate support activity
 
 
 
 

Operating Statistics by Segment

(unaudited)

 

 

 

 

 

 

 

 

Three Months Ended December 31

 

 

2024

 

 

2023

 
Intermodal
 
Loads

560,132

 

535,987

 

Average length of haul

1,693

 

1,703

 

Revenue per load

$

2,850

 

$

3,029

 

Average tractors during the period *

6,546

 

6,388

 

Tractors (end of period) *

6,502

 

6,380

 

Trailing equipment (end of period)

122,272

 

118,171

 

Average effective trailing equipment usage

113,320

 

104,781

 

 
 
Dedicated
 
Loads

967,571

 

1,021,783

 

Average length of haul

181

 

180

 

Revenue per truck per week**

$

5,210

 

$

5,284

 

Average trucks during the period***

12,711

 

13,214

 

Trucks (end of period) ***

12,647

 

13,252

 

Trailing equipment (end of period)

32,046

 

32,600

 

Average effective trailing equipment usage

32,573

 

33,091

 

 
 
Integrated Capacity Solutions
 
Loads

158,440

 

203,928

 

Revenue per load

$

1,942

 

$

1,783

 

Gross profit margin

17.3

%

14.0

%

Employee count (end of period)

590

 

861

 

Approximate number of third-party carriers (end of period)

110,000

 

122,100

 

Marketplace for J.B. Hunt 360 revenue (millions)

$

94.0

 

$

121.5

 

 
 
Final Mile Services
 
Stops

1,089,940

 

1,169,727

 

Average trucks during the period***

1,376

 

1,470

 

 
 
Truckload
 
Loads

102,623

 

102,755

 

Revenue per load

$

1,773

 

$

1,902

 

Average length of haul

591

 

663

 

 
Tractors (end of period)
Company-owned

2

 

27

 

Independent contractor

1,917

 

1,931

 

Total tractors

1,919

 

1,958

 

 
Trailers (end of period)

12,895

 

13,561

 

Average effective trailing equipment usage

12,130

 

12,897

 

 
* Includes company-owned and independent contractor tractors
** Using weighted workdays
*** Includes company-owned, independent contractor, and customer-owned trucks
 
 
 
 

Operating Statistics by Segment

(unaudited)

 

Twelve Months Ended December 31

2024

 

 

2023

 
Intermodal
 
Loads

2,090,732

 

2,044,980

 

Average length of haul

1,692

 

1,673

 

Revenue per load $

2,849

 

$

3,035

 

Average tractors during the period *

6,368

 

6,488

 

Tractors (end of period) *

6,502

 

6,380

 

Trailing equipment (end of period)

122,272

 

118,171

 

Average effective trailing equipment usage

104,103

 

99,374

 

 
 
Dedicated
 
Loads

3,985,221

 

4,274,677

 

Average length of haul

181

 

175

 

Revenue per truck per week** $

5,075

 

$

5,184

 

Average trucks during the period***

12,988

 

13,290

 

Trucks (end of period) ***

12,647

 

13,252

 

Trailing equipment (end of period)

32,046

 

32,600

 

Average effective trailing equipment usage

32,639

 

32,408

 

 
 
Integrated Capacity Solutions
 
Loads

609,854

 

764,839

 

Revenue per load $

1,872

 

$

1,818

 

Gross profit margin

16.1

%

13.4

%

Employee count (end of period)

590

 

861

 

Approximate number of third-party carriers (end of period)

110,000

 

122,100

 

Marketplace for J.B. Hunt 360 revenue (millions) $

395.8

 

$

765.6

 

 
 
Final Mile Services
 
Stops

4,316,578

 

4,596,715

 

Average trucks during the period***

1,373

 

1,540

 

 
 
Truckload
 
Loads

389,832

 

410,091

 

Revenue per load $

1,800

 

$

1,925

 

Average length of haul

629

 

652

 

 
Tractors (end of period)
Company-owned

2

 

27

 

Independent contractor

1,917

 

1,931

 

Total tractors

1,919

 

1,958

 

 
Trailers (end of period)

12,895

 

13,561

 

Average effective trailing equipment usage

12,552

 

13,000

 

 
* 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)

 

 

 

 

 

 

 

 

December 31, 2024

 

 

December 31, 2023****

ASSETS
Current assets:
Cash and cash equivalents $

46,983

$

53,344

Accounts Receivable, net

1,224,166

1,334,912

Prepaid expenses and other

462,575

523,047

Total current assets

1,733,724

1,911,303

Property and equipment

9,148,928

8,767,872

Less accumulated depreciation

3,419,129

2,993,959

Net property and equipment

5,729,799

5,773,913

Other assets, net

811,488

853,044

$

8,275,011

$

8,538,260

 
 
LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities:
Current debt $

500,000

$

249,961

Trade accounts payable

645,925

737,364

Claims accruals

257,121

220,357

Accrued payroll

122,477

94,563

Other accrued expenses

152,517

150,256

Total current liabilities

1,678,040

1,452,501

 
Long-term debt

977,702

1,326,107

Other long-term liabilities

745,774

719,686

Deferred income taxes

858,990

936,208

Stockholders' equity

4,014,505

4,103,758

$

8,275,011

$

8,538,260

 
 
 

Supplemental Data

(unaudited)

December 31, 2024

December 31, 2023 

 
Actual shares outstanding at end of period (000)

100,555

103,220

 
Book value per actual share outstanding at end of period $

39.92

$

39.76

 
 
 

Twelve Months Ended December 31

2024

2023

 
Net cash provided by operating activities (000) $

1,483,156

$

1,744,618

 
Net capital expenditures (000) $

674,406

$

1,600,215

 

**** We revised our unaudited Condensed Consolidated Balance Sheet at December 31, 2023 to correct the classification of portions of our claims accruals and corresponding insurance receivables for claims in excess of self-insurance levels from current liabilities and assets to long-term.

 
 

 

Brad Delco

Senior Vice President – Finance

(479) 820-2723

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

FAQ

What were JBHT's Q4 2024 earnings per share?

J.B. Hunt reported Q4 2024 diluted earnings per share of $1.53, up 4% from $1.47 in Q4 2023.

How much revenue did JBHT generate in Q4 2024?

JBHT generated revenue of $3.15 billion in Q4 2024, down 5% from $3.30 billion in Q4 2023.

What was JBHT's Intermodal segment performance in Q4 2024?

JBHT's Intermodal segment revenue decreased 2% to $1.60 billion, while operating income declined 10%. Volume increased 5% year-over-year.

How many shares did JBHT repurchase in Q4 2024?

JBHT repurchased approximately 489,000 shares for $86 million in Q4 2024, with $882 million remaining under its share repurchase authorization.

What is JBHT's expected tax rate for 2025?

JBHT expects its 2025 annual tax rate to be between 24.0% and 25.0%, based on current enacted legislation.

JB Hunt Transport Services Inc

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17.46B
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Integrated Freight & Logistics
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United States of America
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