JB Hunt Transport Services Inc - JBHT STOCK NEWS

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported its third quarter 2024 financial results. The company's revenue decreased 3% to $3.07 billion, while operating income fell 7% to $224.1 million. Diluted earnings per share dropped 17% to $1.49 compared to $1.80 in Q3 2023.

The revenue decline was primarily due to decreased gross revenue per load in Intermodal and Truckload segments, lower load volumes in Integrated Capacity Solutions and Dedicated Contract Services, and fewer stops in Final Mile Services. These were partially offset by a 5% load growth in Intermodal.

The company's effective income tax rate increased to 25.2% from 18.2% in Q3 2023. J.B. Hunt expects its 2024 annual tax rate to be approximately 24.5%.

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) has announced its schedule for the release of third quarter 2024 earnings. The company plans to issue its earnings report at the close of the market on Tuesday, October 15, 2024. Following this, J.B. Hunt will host a conference call from 4:00-5:00 p.m. CDT on the same day to discuss the quarterly results and address questions from the investment community.

For those interested in participating, an online, real-time webcast of the quarterly conference call will be accessible at investor.jbhunt.com starting at 4:00 p.m. CDT on October 15. Additionally, an online replay of the earnings call webcast will be made available shortly after the call concludes.

J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) has added 20 Nikola Tre fuel cell electric vehicles (FCEVs) to expand sustainability solutions for customers with freight needs along the West Coast. These vehicles will primarily support J.B. Hunt Intermodal operations in California, helping to address shipper concerns with recent carbon emission reduction requirements in the state.

The FCEVs join J.B. Hunt's fleet of over 200 alternative-powered equipment vehicles, including battery-electric, hydrogen-electric, and renewable natural gas (RNG) powered vehicles. This expansion aligns with J.B. Hunt's goal to reduce carbon emission intensity by 32% by 2034 from a 2019 baseline.

J.B. Hunt offers various sustainable solutions for customers, including intermodal conversion, empty-mile reduction, Carbon Diet Services, and the CLEAN Transport™ program. These initiatives have helped avoid an estimated 30 million metric tons of CO2e emissions over the past decade and 4-plus million empty miles in 2023 alone.

J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) has been named to TIME's list of World's Best Companies 2024. This recognition is based on a comprehensive analysis of top-performing companies globally, considering three primary dimensions: employee satisfaction, revenue growth, and sustainability (ESG).

The evaluation included surveys from approximately 170,000 participants across 50+ countries, assessing factors such as company image, work atmosphere, conditions, salary, and equality. Companies with a revenue of at least $100 million in 2023 and positive growth from 2021 to 2023 were considered. ESG performance was also evaluated using standardized KPIs and targeted research.

J.B. Hunt Transport Services Inc. has awarded $533,000 in scholarships to 100 new recipients through its J.B. Hunt Scholarship for Families program in its third year. The program provides $2,500 in annual financial aid to dependent children or grandchildren of J.B. Hunt employees attending accredited colleges or vocational schools. Scholarships are renewable for up to three years with maintained academic performance. Since 2022, J.B. Hunt has awarded over $1.2 million in total financial assistance through this initiative.

This year's recipients come from 25 states across the country. The company plans to continue the program for a fourth year, demonstrating its commitment to supporting employee families and education. The scholarship program is part of J.B. Hunt's broader giving strategy, which focuses on health care, veterans' support, education, and crisis management.

J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) has been awarded Verisk CargoNet's Best in Cargo Security recognition for 2023. This accolade acknowledges J.B. Hunt's exceptional preventive measures, program engagement, and response preparedness in addressing cargo theft. The company achieved a remarkable 99.99% theft-free rate for full loads in 2023.

J.B. Hunt has implemented advanced technology and analytics to detect carrier fraud and prevent cargo theft. The company has also established a 24/7 Security Operation Center for monitoring high-value and high-risk freight. Additionally, J.B. Hunt has enhanced its teams specializing in supply chain security, investigations, and asset protection.

This recognition comes at a time when organized cargo theft has become a major concern for shippers. According to CargoNet, there was a 59% increase in cargo theft events across the United States and Canada in 2023, with an estimated total loss of $331.9 million.

J.B. Hunt Transport Services (NASDAQ: JBHT), Bridgestone Americas, and Kodiak Robotics have successfully completed over 50,000 autonomous long-haul trucking miles in their ongoing weekly delivery collaboration. The partnership, launched in January, involves shipping Bridgestone passenger car tires between South Carolina and Dallas using Kodiak's autonomous trucks.

Key highlights include:

• 100% on-time pick-up and delivery with no accidents
• Expanded to include additional weekly deliveries
• Utilizes Kodiak's hub-to-hub autonomous delivery model
• Leverages J.B. Hunt 360box® for return trip capacity
• Integrates Bridgestone's smart-sensing tire technologies

This collaboration demonstrates the viability of autonomous long-haul shipping and improves operational efficiencies for all parties involved.

J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) has announced a quarterly dividend of $0.43 per common share. This dividend will be paid on August 16, 2024, to stockholders of record as of August 2, 2024. The announcement demonstrates the company's commitment to returning value to shareholders through consistent dividend payments. As a major player in the transportation and logistics industry, J.B. Hunt's dividend declaration may be seen as a positive indicator of the company's financial health and confidence in its future performance.

J.B. Hunt Transport Services (NASDAQ: JBHT) reported a decline in financial performance for Q2 2024. Revenue decreased 7% to $2.93 billion, while operating income fell 24% to $205.7 million. Earnings per share dropped 27% to $1.32. The decline was primarily due to decreased revenue in Intermodal, Integrated Capacity Solutions, Truckload, and Dedicated Contract Services segments. Final Mile Services saw 5% revenue growth. The company faced challenges from a soft freight market, higher expenses, and underutilization of assets. Despite these headwinds, J.B. Hunt maintained a strong market position and continued to invest in its fleet, adding 1,862 new pieces of trailing equipment in Intermodal.