J.B. Hunt Transport Services, Inc. JBHT reported second-quarter 2026 earnings of $1.91 per share, up 45.8% from $1.31 a year ago. The figure beat the Zacks Consensus Estimate of $1.71 by 11.7%.
Operating revenues climbed 19.4% year over year to $3.50 billion and surpassed the consensus mark of $3.19 billion by 9.5%. Higher volumes and pricing across several businesses supported growth, led by a 10% increase in Intermodal loads.
J.B. Hunt Transport Services, Inc. Price, Consensus and EPS Surprise
J.B. Hunt Transport Services, Inc. price-consensus-eps-surprise-chart | J.B. Hunt Transport Services, Inc. Quote
JBHT's Intermodal Business Leads the Upswing
Intermodal revenues increased 22% year over year to $1.75 billion. Volume rose 10%, with transcontinental loads up 5% and Eastern network loads advancing 16%. Revenue per load increased to $3,034 from $2,738, while the metric excluding fuel surcharge revenue improved 1%.
Operating income surged 58% to $150.9 million. Stronger network efficiency, drayage productivity, fewer empty container moves and lower storage expense supported the gain. Cost-to-serve initiatives also helped, though higher insurance and professional driver expenses partly offset the improvement.
J.B. Hunt's Dedicated Operations Stay Steady
Dedicated Contract Services revenues rose 9% to $920.7 million. Revenue per truck per week advanced 9% to $5,635, while average truck count was approximately flat. Productivity excluding fuel surcharge revenues increased 2% due to contracted index-based price escalators.
Operating income grew 9% to $102.5 million. Higher revenues, lower group medical claims and continued cost reductions supported profitability. Higher insurance premiums, equipment-related expenses and new-business onboarding costs limited the upside. Customer retention remained approximately 96%.
JBHT's Brokerage Unit Returns to Profit
Integrated Capacity Solutions’ revenues jumped 49% to $388.5 million. Segment volume increased 19%, while revenue per load rose 26% to $2,477. Contractual freight represented 65% of total loads and 63% of revenues during the quarter.
The segment posted operating income of $1.7 million compared with a loss of $3.6 million a year earlier. Higher volume and revenue per load lifted gross profit despite a 54% increase in purchased transportation expense. Gross margin narrowed to 12.5% from 15.5%, but improved from 12.0% in the first quarter of 2026.
J.B. Hunt's Truckload Costs Pressure Results
Truckload revenues increased 35% to $239.7 million. Revenues excluding fuel surcharge climbed 28% as load volume grew 14% and revenue per load excluding fuel surcharge advanced 13%. Trailer turns improved 13% because of better network balance and velocity.
The business recorded an operating loss of $1.3 million versus an operating income of $3.4 million in the prior-year quarter. Higher purchased transportation costs drove a 12% decline in gross profit. Cost management and productivity gains provided only a partial offset.
JBHT's Final Mile Sales and Profit Decline
Final Mile Services revenues fell 6% to $198.0 million. The decrease reflected known business losses tied to efforts to improve account quality and profitability. Stabilizing demand and new business implemented during the past year partly cushioned the decline.
Operating income dropped 30% to $5.6 million. Lower revenues and higher purchased transportation expenses weighed on results. Reduced claims and facility rental expenses, along with continued cost-to-serve improvements, softened the pressure.
J.B. Hunt Expands Margins Despite Higher Transport Costs
Companywide operating income rose 32% to $259.5 million, while operating margin improved to 7.4% from 6.7%. Higher revenues, productivity gains, structural cost reductions and lower medical claims supported margin expansion.
Rents and purchased transportation increased to 48.0% of revenues from 43.3%, reflecting cost pressure in highway-related operations. Salaries, wages and employee benefits declined to 23.5% of revenues from 27.9%, while general and administrative expenses fell to 1.9% from 2.6%.
JBHT Strengthens Its Debt Position
Net cash provided by operating activities totaled $723.3 million for the first six months of 2026 compared with $806.2 million a year earlier. Net capital expenditures declined to $144.9 million from $399.1 million.
Total debt stood at approximately $1.15 billion at June 30, 2026. JBHT repurchased roughly 392,000 shares for about $98 million during the quarter, leaving approximately $791 million under its authorization. The company also narrowed its expected 2026 tax-rate range to 24.0%-24.5%.
JBHT’s Zacks Rank
Currently, JBHT carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q2 Performances of Other Transportation Companies
Delta Air Lines (DAL) reported second-quarter 2026 earnings (excluding 88 cents from non-recurring items) of $1.56 per share, beating the Zacks Consensus Estimate of $1.51. Earnings declined in double digits (percentage-wise) from a year ago as sharply higher fuel costs pressured profitability.
Revenues rose on a year-over-year basis to $17.67 billion but missed the consensus estimate of $17.76 billion. Broad demand strength lifted adjusted total revenue per available seat mile, or TRASM, 12.4%, while premium and diversified revenue streams continued to expand.
United Airlines Holdings, Inc. (UAL)reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%.
Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68-billion consensus mark. A 12.1% increase in total revenue per available seat mile, or TRASM, and broad-based gains across premium, loyalty and cargo revenues supported the top line despite sharply higher fuel costs.
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