HUNT J B TRANSPORT SERVICES INC Files 10-Q for Q1 2024

TL;DR

<b>HUNT J B TRANSPORT SERVICES INC filed its Q1 2024 10-Q report on April 26, 2024.</b>

AI Summary

HUNT J B TRANSPORT SERVICES INC (JBHT) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. HUNT J B TRANSPORT SERVICES INC filed a 10-Q for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31. The filing was made on April 26, 2024. The company is incorporated in Arkansas.

Why It Matters

For investors and stakeholders tracking HUNT J B TRANSPORT SERVICES INC, this filing contains several important signals. This 10-Q filing provides investors with the company's financial performance and operational details for the first quarter of 2024. Understanding these details is crucial for assessing the company's current financial health and future prospects in the transportation sector.

Risk Assessment

Risk Level: — HUNT J B TRANSPORT SERVICES INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or unusual disclosures.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to identify trends and potential investment opportunities.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q Filing)
• 2024-04-26 — Filing Date (10-Q Filing)
• 2024-01-01 — Quarter Start Date (10-Q Filing)

Key Players & Entities

• HUNT J B TRANSPORT SERVICES INC (company) — Filer
• JBHT (company) — Ticker Symbol

FAQ

Industry Context

HUNT J B TRANSPORT SERVICES INC operates within the trucking and transportation industry, a sector critical to supply chains and commerce.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file quarterly reports (10-Q).

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and EPS trends.
2. Examine segment performance (JBT, FMS, ICS, DCS, JBI) for growth drivers and challenges.
3. Review any disclosed risk factors or subsequent events for potential impacts.

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-04-26: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first set of quarterly financial data for the year.

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value JBHT NASDAQ Indicate by

Filing Documents

• jbht20240331_10q.htm (10-Q) — 661KB
• ex_658282.htm (EX-31.1) — 9KB
• ex_658281.htm (EX-31.2) — 10KB
• ex_658280.htm (EX-32.1) — 5KB
• ex_658275.htm (EX-32.2) — 5KB
• 0001437749-24-013384.txt (&nbsp;) — 3245KB
• jbht-20240331.xsd (EX-101.SCH) — 30KB
• jbht-20240331_def.xml (EX-101.DEF) — 223KB
• jbht-20240331_lab.xml (EX-101.LAB) — 184KB
• jbht-20240331_pre.xml (EX-101.PRE) — 241KB
• jbht-20240331_cal.xml (EX-101.CAL) — 28KB
• jbht20240331_10q_htm.xml (XML) — 347KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements Condensed Consolidated Statements of Earnings for the Three Months Ended March 31, 2024 and 2023 3 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements as of March 31, 2024 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 19

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6. Exhibits 20 Exhibits 21

Signatures

Signatures 22

Financial Information

Part I. Financial Information

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS J.B. HUNT TRANSPORT SERVICES, INC. Condensed Consolidated Statements of Earnings (in thousands, except per share amounts) (unaudited) Three Months Ended March 31, 2024 2023 Operating revenues, excluding fuel surcharge revenues $ 2,552,486 $ 2,731,453 Fuel surcharge revenues 391,515 498,135 Total operating revenues 2,944,001 3,229,588 Operating expenses: Rents and purchased transportation 1,280,987 1,467,798 Salaries, wages and employee benefits 807,884 824,999 Depreciation and amortization 182,996 175,812 Fuel and fuel taxes 173,527 195,834 Operating supplies and expenses 122,991 128,360 General and administrative expenses, net of asset dispositions 76,784 60,404 Insurance and claims 75,686 70,328 Operating taxes and licenses 17,535 18,108 Communication and utilities 11,242 10,456 Total operating expenses 2,749,632 2,952,099 Operating income 194,369 277,489 Net interest expense 15,649 14,789 Earnings before income taxes 178,720 262,700 Income taxes 51,227 64,932 Net earnings $ 127,493 $ 197,768 Weighted average basic shares outstanding 103,242 103,724 Basic earnings per share $ 1.23 $ 1.91 Weighted average diluted shares outstanding 104,107 104,729 Diluted earnings per share $ 1.22 $ 1.89 See Notes to Condensed Consolidated Financial Statements. 3 J.B. HUNT TRANSPORT SERVICES, INC. Condensed Consolidated Balance Sheets (in thousands) (unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 64,185 $ 53,344 Trade accounts receivable, net 1,272,115 1,334,912 Prepaid expenses and other 613,260 696,656 Total current assets 1,949,560 2,084,912 Property and equipment, at cost 8,866,281 8,767,872 Less accumulated depreciation 3,071,485 2,993,959 Net property and equipment 5,794,796 5,773,913 Goodwill and intangible assets,

MANAGEMENT ' S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT ' S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS You should refer to the attached interim Condensed Consolidated Financial Statements and related notes and also to our Annual Report (Form 10-K) for the year ended December 31, 2023, as you read the following discussion. We may make statements in this report that reflect our current expectation regarding future results of operations, performance, and achievements. These are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995 and are based on our belief or interpretation of information currently available. When we use words like "may," "plan," "contemplate," "anticipate," "believe," "intend," "continue," "expect," "project," "goals," "strategy," "future," "predict," "seek," "estimate," "likely," "could," "should," "would," and similar expressions, you should consider them as identifying forward-looking statements, although we may use other phrasing. Forward-looking statements are inherently uncertain, subject to risks, and should be viewed with caution. These statements are based on our belief or interpretation of information currently available. Shareholders and prospective investors are cautioned that actual results and future events may differ materially from these forward-looking statements as a result of many factors. Some of the factors and events that are not within our control and that could have a material impact on future operating results include the following: general economic and business conditions; potential business or operational disruptions resulting from the effects of a national or international health pandemic; competition and competitive rate fluctuations; excess capacity in the intermodal or trucking industries; a loss of one or more major customers; cost and availability of diesel fuel; interference with or termination of our relationships with certain railroads; rail service delays; disruptions to U.S.