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J. B. Hunt

From Wikipedia, the free encyclopedia
For the company's founder, see Johnnie Bryan Hunt.
J.B. Hunt Transport Services, Inc.
Company typePublic
FoundedAugust 10, 1961; 63 years ago (1961-08-10)
FoundersJohnelle Hunt
Johnnie Bryan Hunt
HeadquartersLowell, Arkansas, U.S.
Key people
John N. Roberts, III (chairman of the board)
Shelley Simpson (President) and (CEO)
John Kuhlow (CFO)
RevenueDecrease US$12.830 billion (2023)
Decrease US$993 million (2023)
Decrease US$728 million (2023)
Total assetsIncrease US$8.538 billion (2023)
Total equityIncrease US$4.103 billion (2023)
Number of employees
34,718 (2023)
WebsiteJBHunt.com
Footnotes / references
[1][2]
J.B. Hunt truck on Ohio Turnpike in Hudson, Ohio.

J.B. Hunt Transport Services, Inc. is an American transportation and logistics company based in Lowell, Arkansas. It was founded by Johnnie Bryan Hunt and Johnelle Hunt in Arkansas on August 10, 1961. By 1983, J.B. Hunt had grown into the 80th largest trucking firm in the US, with $623.47 million in revenue. At that time J.B. Hunt operated 550 tractors, 1,049 trailers, and had roughly 1,050 employees.[3] J.B. Hunt primarily operates semi-trailer trucks and provides transportation services throughout the continental US, Canada and Mexico. As of 2020 the company employs over 24,000 people and operates more than 12,000 trucks. The company's fleet consists of over 145,000 trailers and containers.[4]

History

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The company was founded in 1961. By 1983, J.B. Hunt became a publicly held company and has grown into the 3rd largest trucking firm in the U.S.[3]

In 1989, J.B. Hunt Transport began partnering with railroads to offer intermodal service. The initial partnership was with the Atchison, Topeka and Santa Fe Railway[5] later part of the BNSF Railway, and has since grown to other Class I railroads including Norfolk Southern, CSX, CN, and KCS.[6] The company's operations are distributed in four business segments (intermodal transport, contract services, logistics and truckload shipping), providing delivery services in the continental United States, Canada, and Mexico. About two-thirds of the company's revenues and profits come from intermodal.[4]

The company introduced a dedicated service in 1993.[7]

On February 7, 2017, J. B. Hunt became a NASDAQ-100 company.[8]

Since launching their J.B. Hunt scholarships for families program in 2022, JBH has awarded a total of $687,500 in scholarships to the families of J.B. Hunt employees. The J.B. Hunt Scholarship Program for Families is supported by Scholarship America®, an organization that works to enrich education by assisting individuals, corporations and communities with fundraising and awarding scholarships to students. J.B. Hunt plans to continue the program for a third consecutive year. [9]

Dec 12, 2023, J.B. Hunt continued its participation in Wreaths Across America for the tenth consecutive year this week, helping ensure the delivery of more than 355,000 wreaths for the annual event remembering fallen veterans during the holiday season. [10]

On Feb 22, 2024, J.B.Hunt entered into a multi-year agreement with Wal-Mart Stores inc. As part of this deal JBH acquired all of WM's Intermodal trailing equipment. This acquisition of roughly 15,500 trailers brings JBH's total Intermodal trailing equipment count up to 118,171 intermodal boxes. [11]

Corporate responsibility

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Sustainability

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The company uses load optimization software to decrease empty miles for drivers and GHG emission, improving overall route efficiency.[12] J.B. Hunt also reserved several Tesla electric trucks and added the first-ever, all-electric box trucks to its fleet. [13]

In 2019, the company received the SmartWay Excellence Award from the U.S. Environmental Protection Agency(EPA) for the 10th consecutive year. [14]

Safety

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J.B. Hunt added hair testing for drugs to all pre-employment tests since May 2006, in addition to Federal Motor Carrier Safety Administration (FMCSA) mandated urine testing.[15] Hair testing can detect prior drug usage for up to 90 days.[16] Drivers are also trained and certified in the safety training program Smith System.[17][18]

Aug 14, 2024, J.B. Hunt Transportation was awarded Verisk CargoNet’s Best in Cargo Security recognition for its preventive measures, program engagement, and response preparedness to address cargo theft in real time throughout 2023. [19]

References

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  1. ^ "US SEC: Form 10-K J.B. Hunt Transport Services, Inc" (PDF). U.S. Securities and Exchange Commission. Retrieved July 17, 2024.
  2. ^ "J B Hunt Transport Services Inc People". Reuters.
  3. ^ a b Schwartz, Marvin (1992). J.B. Hunt : the long haul to success. Fayetteville: University of Arkansas Press. ISBN 1-55728-250-1. OCLC 24794029.
  4. ^ a b "Form 10-K J.B. Hunt Transport Services, Inc". Securities and Exchange Commission. Retrieved 2020-01-13.
  5. ^ Salpukas, Agis (1992-06-21). "When Trucks and Trains Unite". The New York Times. ISSN 0362-4331. Retrieved 2020-01-13.
  6. ^ Ananthalakshmi, A. (2009-10-13). "JB Hunt close to intermodal deal with Norfolk Southern- analysts". Reuters. Retrieved 2020-02-24.
  7. ^ Pettus, Michael L. (2003). Growth from chaos : developing your firm's resources to achieve profitability without cost cutting. Westport, Conn.: Praeger. ISBN 978-0-313-09416-3. OCLC 540956790.
  8. ^ https://ir.nasdaq.com/news-releases/news-release-details/jb-hunt-transport-services-inc-join-nasdaq-100-index-beginning
  9. ^ https://www.jbhunt.com/our-company/newsroom/2023/10/second-annual-scholarship-program
  10. ^ https://www.jbhunt.com/our-company/newsroom/2023/12/wreaths-across-america
  11. ^ https://www.truckingdive.com/news/jb-hunt-acquires-walmart-intermodal-assets-signs-transport-agreement/709213/
  12. ^ Iii, Chelsea White (18 January 2018). Trucking in the Age of Information. Routledge. ISBN 9781351143943.
  13. ^ Cheng, Evelyn. "Tesla shares pop after trucker JB Hunt reserves 'multiple' semitractor-trailers". CNBC.
  14. ^ Straight, Brian (8 October 2019). "Today's Pickup: J.B. Hunt, Schneider lead SmartWay Excellence Award winners". Freight Waves.
  15. ^ Fiorentino, Dary (2011). Operator drug- and alcohol-testing across modes. Transportation Research Board. p. 31. ISBN 9780309223447.
  16. ^ "Hair follicle drug test: How it works, what to expect, and accuracy". www.medicalnewstoday.com.
  17. ^ Babcock, Stephane. "Fleets Share COVID-19 Driver Safety Insights". www.truckinginfo.com.
  18. ^ Schmidt, Ally (2 January 2015). "What sets J.B. Hunt apart from its competitors?". Market Realist.
  19. ^ https://www.jbhunt.com/our-company/newsroom/2024/08/jbh-wins-cargo-security-award
[edit]
  • Official website
  • Business data for J.B. Hunt Transport Services, Inc.:
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