J.B. Hunt Q1 earnings jump 20%, revenue up over 4%

J.B. Hunt Transport Services Inc., a Lowell-based transportation services provider, posted a double-digit earnings increase and a single-digit revenue increase in the first quarter amid signs of a freight market recovery, including tightening capacity and rising demand while facing challenging winter weather.

After the markets closed Wednesday (April 15), J.B. Hunt reported earnings rose by 20.23% to $141.55 million, or $1.49 per share, in the first quarter from $117.74 million, or $1.17 per share, in the same period last year. Revenue increased by 4.62% to $3.05 billion from $2.92 billion.

J.B. Hunt beat expectations of $1.45 per share, based on a consensus of 22 analysts. The company also beat revenue expectations of $2.95 billion. J.B. Hunt has beaten earnings expectations in the past five consecutive quarters.

In an earnings report, analysts Brady Lierz and Reed Seay, and senior associate Joe Enderlin, all of Little Rock-based Stephens Inc., attributed the first-quarter beat to better-than-expected results in the brokerage segment and a lower tax rate, partially offset by weaker results in the dedicated segment. Intermodal volume rose by 2.9% year-over-year, exceeding their flat estimate. This was slightly offset by a 2% year-over-year decline in revenue per load, below their 1% year-over-year decline estimate. The average truck count in the dedicated segment rose from the fourth quarter, but margins of 10.4% were 0.4 percentage points lower than their estimate.

“I’m thankful for our team and their unwavering focus on operational excellence, even as we navigated challenging winter weather and elevated demand across the business,” said Shelley Simpson, president and CEO. “We began the year with strong financial results, building on the momentum we established in 2025 and once again executed well in safety performance by setting a first‑quarter record.”

In an earnings call, Simpson said the company “delivered strong results relative to the market and a still challenging environment, reflecting disciplined execution against the strategy we laid out. We are taking share driven by the strength of our execution and consistent service for our customers.

“As we moved through the first quarter, the freight environment felt meaningfully different than what we’ve operated in over the past several years,” she added. “Continued regulatory enforcement to improve safety in our industry has removed non-compliant capacity, and when combined with early signs of improved demand, resulted in a tighter truckload market throughout the quarter. While predicting inflection points is never precise, we believe we are on a path of recovery.”

Nick Hobbs, chief operating officer and president of Highway and Final Mile Services, said the company’s driver need is the highest it’s been since June 2022.

“As the driver market has tightened, we have begun to execute various strategies that allow us to recruit to meet our needs and support our growth,” he said.

Chief Financial Officer Brad Delco discussed the company’s $100 million cost-cutting initiative, announced in mid-2025. He said the company continued to make progress in the initiative, eliminating over $30 million in structural costs in the first quarter. He noted that the initiative is impacting the company’s financial results as it expanded margins by 0.7 percentage points year-over-year.

Shares of J.B. Hunt (NASDAQ: JBHT) closed Wednesday at $224.17, down $5.44 or 2.37%. In after-hours trading, the stock was at $228.30, up $4.13 or 1.84%. In the past 52 weeks, the stock has ranged between $122.79 and $236.

Following is a segment comparison of the first quarter to the same period in 2025.
Intermodal
Operating income increased to $114.48 million from $94.38 million. The segment comprised 55% of J.B. Hunt’s total operating income, up from 53% in the same period last year. Revenue increased to $1.50 billion from $1.46 billion. The segment comprised 49% of J.B. Hunt’s total revenue, down from half in the same period last year.

Dedicated
Operating income rose to $87.39 million from $80.27 million. The segment comprised 42% of the company’s total operating income, down from 45%. Revenue increased to $840.55 million from $822.29 million. The segment accounted for 27% of J.B. Hunt’s total revenue, down from 28%.

Brokerage
The segment had an operating loss of $4.65 million, compared to an operating loss of $2.66 million. Revenue rose to $322.73 million from $268.04 million. The segment accounted for 11% of J.B. Hunt’s total revenue, up from 9%.

Final Mile Services
Operating income rose to $7.16 million from $4.67 million. The segment comprised 4% of the company’s total operating income, up from 3%. Revenue decreased to $188.02 million from $200.70 million. The segment accounted for 6% of J.B. Hunt’s total revenue, down from 7%.

Truckload
Operating income increased to $2.71 million from $2.04 million. The segment comprised 1% of the company’s total operating income, flat from the same period last year. Revenue rose to $205.38 million from $166.62 million. The segment accounted for 7% of J.B. Hunt’s total revenue, up from 6% in the same period last year.