About the Company
J.B. Hunt Transport Services, Inc. is an American supply chain solutions provider, headquartered in Lowell, Arkansas. Johnelle Hunt and Johnnie Bryan Hunt found the company in 1961, it is one of the USA’s leading truckload carriers. J.B. Hunt Transport Services, Inc. shares are traded on NASDAQ under the ticker “JBHT”. Presently, it employs nearly 30,000 employees, operates more than 16,000 trailers, and over 6,000 trucks.
Some of the main freight types include chemicals, paper commodities, retail store merchandise, manufacturing supplies, and more. JBHT is renowned for its irregular route trucking services, which it provides to multinational retail corporations, like Walmart. It uses specialised software to minimise the non-revenue miles and reduce the GHG emission to maximise the route efficiency.
Moreover, besides reserving several electric trucks manufactured by Tesla, JBHT has also added all-electric box trucks to its arsenal. In 1992 they entered into an agreement with IBM and installed onboard computer laptops. Thus, it enabled the truckers to communicate more efficiently with the fleet manager. Over the years, it has diversified its operations. It currently offers third-party logistics management, freight hauling within the state, flatbed trailer services, and transportation of hazardous materials.
The company provides efficient shipping in America, Mexico, and Canada. The flatbed division was included in its stockpile in 1990, which led to the acquisition of more customers, such as Reynolds Metals. Some of the most notable subsidiaries of JBHT include J.B. Hunt Transport of Texas, J.B. Hunt Transport, J.B. Hunt Logistics, and J.B. Hunt Special Commodities.
In 2017 JBHT acquired Special Logistics for an estimated $136 million. Two years later, it announced the acquisition of Cory 1st Choice Home Delivery, a transportation company known for home delivery services, for approximately $100 million. On 31st December 2019, J.B. Hunt Transport, one of the subsidiaries of JBHT acquired RDI Last Mile Co; according to reports, the acquisition was funded using a revolving credit facility.
In 2007, Voluntary Interindustry Commerce Solutions selected J.B. Hunt Transport Services, Inc. as the Most Innovative Third Party Service Provider. Moreover, in 2020, JBHT was awarded the SmartWay Excellence Award for the 11th year in a row by the U.S. Protection Agency. Between 2010 and 2020, this transport and logistics company has managed to generate a 15% average annual return for its shareholders.
In 2020, JBHT was ranked 346th on the list of Fortune 500 companies. Moreover, it holds the 1250th position on Forbes’ list of the world’s 2,000 largest public companies.;
|JB Hunt Transport Services Inc
|Integrated Freight & Logistics