J.B. Hunt shareholders approve proposals, elect Brett Biggs to board

Lowell-based carrier J.B. Hunt Transport Services Inc. hosted its annual shareholders meeting Thursday (April 24), and shareholders approved all the proposals with at least 90% of the vote.

Shelley Simpson, president and CEO of J.B. Hunt, provided a 2024 review and a 2025 outlook after the seven-minute shareholders meeting.

Shareholders elected a new member to the company’s board of directors: former Walmart executive Brett Biggs. He worked in multiple leadership roles during his more than 20-year career with the Bentonville-based retailer, including as chief financial officer from 2016 until June 2022, when he transitioned to an executive adviser.

He retired in January 2023. Other jobs he had included chief financial officer of Walmart International from 2014 to 2016 and of Walmart U.S. from 2012 to 2014. He was also senior vice president of operations for Sam’s Club from 2010 to 2012.

Along with electing Biggs, shareholders reelected the following eight board members: Francesca Edwardson, Sharilyn Gasaway, Thad Hill, Bryan Hunt Jr., Persio Lisboa, chairman John Roberts, James Robo and Simpson. Terms are for one year. The two other proposals approved were an advisory vote on executive pay for 2024, and approving PricewaterhouseCoopers LLP as the company’s accounting firm for 2025.

In her remarks, Simpson highlighted multiple company records for 2024, including in safety, intermodal volume and operating income in the Final Mile Services segment. She said the company’s dedicated segment had its fifth-best sales year. Simpson said the company achieved records while it faced pressure from customers to reduce prices in 2024. Over the past three years, the company’s insurance costs have more than doubled.

The company set a safety record for reducing Department of Transportation preventable collisions per million miles, breaking the 2023 record, and its 5,000th driver achieved 1 million safe miles. Also in 2024, the company integrated BNSF Logistics’ brokerage assets into its brokerage segment and reached a long-term intermodal service agreement with Walmart. J.B. Hunt acquired all of the Bentonville-based retailer’s intermodal assets as part of the deal.

“Last year we executed at high levels across all our services and proved that by focusing on operational excellence, we could create differentiated value for our customers,” Simpson said. “Our priorities for 2025, scaling our investments and driving long-term returns for shareholders, build on that operational success.”

On April 15, J.B. Hunt reported that net income fell by 7.6% to $117.74 million, or $1.17 per share, in the first quarter of 2025 from $127.49 million, or $1.22 per share, in the same period last year. Revenue decreased by 0.76% to $2.92 billion from $2.94 billion.

In the earnings call, J.B. Hunt executives said the company’s results were as expected, as safety metrics continued to improve and intermodal volumes hit a record for the third consecutive quarter. Executives said they are working to cut costs and boost productivity and margins. They also spoke about how the company and its customers are scenario planning, but were uncertain how the tariffs might impact their business.

“We recognize things are changing, and you know, that’s changing by the day or the tweet or the moment,” Simpson said in the call. “And so for us, you know, we want to be fluid, and we need to make sure that our plans align as conditions change.”

Shares of J.B. Hunt (NASDAQ: JBHT) were trading Thursday at $132.55, up $2.19 or 1.68%. In the past 52 weeks the stock has ranged between $122.79 and $200.40.