J.B. Hunt Reports Q3 2026 Financial Results: Revenue Up 20% to $3.68B, EPS Up 3% to $1.82

Executive Summary

On October 15, 2026, J.B. Hunt Transport Services, Inc. filed an 8-K under Item 2.02 furnishing its financial results for the third quarter ended September 30, 2026 via Exhibit 99.1.

Consolidated Financial Highlights

• Operating Revenue: $3.68 billion, up 20% compared to $3.05 billion in Q3 2025 (up 13% excluding fuel surcharge revenue).
• Operating Income: $247.1 million, up 2% compared to $242.7 million in Q3 2025.
• Net Earnings: $172.4 million, up 1% from $170.8 million in the prior-year period.
• Diluted EPS: $1.82, up 3% compared to $1.76 in Q3 2025.
• Effective Tax Rate: 25.5% versus 24.0% in Q3 2025; full-year 2026 tax rate expected to approximate 24.0%.

Segment Performance

• Intermodal (JBI): Revenue rose 20% to $1.83 billion, driven by an 8% increase in volume (Eastern network loads up 18%, Transcontinental loads up 1%) and an 11% increase in gross revenue per load. Operating income increased 18% to $147.5 million due to improved network efficiency and lower container storage expense.
• Dedicated Contract Services (DCS): Revenue grew 11% to $960 million on 10% productivity gains, but operating income decreased 22% to $81.7 million due to higher driver personnel costs, equipment expense, and insurance premiums.
• Integrated Capacity Solutions (ICS): Revenue rose 57% to $434 million, generating $9.6 million in operating income compared to an operating loss of $0.8 million in Q3 2025, driven by volume growth (+22%) and higher revenue per load (+29%).
• Final Mile Services (FMS): Revenue decreased 3% to $200 million, while operating income dropped 76% to $1.6 million due to lower stop volumes (-10%) and higher purchased transportation costs.
• Truckload (JBT): Revenue climbed 37% to $261 million, while operating income slipped 6% to $7.0 million due to elevated third-party purchased transportation costs.

Balance Sheet & Share Repurchases

• Total Debt: $1.12 billion at September 30, 2026, down from $1.60 billion at September 30, 2025.
• Cash & Equivalents: ~$4 million.
• Capital Expenditures: Net CapEx for the first nine months was $291.1 million vs. $490.9 million in the prior-year period.
• Share Buybacks: The company repurchased ~704,000 shares for ~$174 million during Q3 2026, leaving ~$619 million in authorization.