J. B. Hunt

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J.B. Hunt Transport Services, Inc.
Public
Traded asNASDAQJBHT
NASDAQ-100 component
DJTA component
S&P 500 component
FoundedAugust 10, 1961; 58 years ago (1961-08-10)
FounderJohnelle Hunt
(Co-Founder)
Johnnie Bryan Hunt
(Co-Founder)
HeadquartersLowell, Arkansas, U.S.
Key people
Kirk Thompson
(Chairman of the Board)
John N. Roberts, III
(President & CEO)
David G. Mee
(Executive VP & CFO)
RevenueIncrease US$ 7.19 billion (2017)
Decrease US$ 623.79 million (2017)
Increase US$ 686.26 million (2017)
Total assetsIncrease US$ 4.47 billion (2017)
Total equityIncrease US$ 1.84 billion (2017)
Number of employees
24,681[1] (2017)
WebsiteJBHunt.com
Footnotes / references
[2]
J.B. Hunt truck on Ohio Turnpike in Hudson, Ohio.

J.B. Hunt Transport Services (J.B. Hunt) is a transportation and logistics company that was founded by Johnnie Bryan Hunt and Johnelle Hunt, and it is based in the Northwest Arkansas city of Lowell.[3]

History[edit]

On August 10, 1961 took place the first meeting of incorporators and shareholders of The J.B. Hunt Company held in Little Rock, Arkansas. In 1962, the J. B. Hunt Company, a rice hull packaging company, opened its doors in Stuttgart, AR. The couple co-founded J.B. Hunt Transport with five trucks and seven trailers in 1969. By 1983, J.B. Hunt had grown into the 80th largest trucking firm in the U.S., earned $63 million in revenue, and became a publicly held company. At that time, J.B. Hunt, through its subsidiary J.B. Hunt Transport, Inc., operated 550 tractors, 1,049 trailers, and had roughly 1,050 employees.[4][5]

In 1989, J.B. Hunt began working with railroads to offer intermodal service and pioneered the industry by double stacking containers. The company also launched a specialized trucking service division along with a flatbed operation, which was later sold.[6]

Today, J.B. Hunt is a Fortune 500, S&P 500, and NASDAQ-100 company that provides innovative supply chain solutions. Utilizing an integrated, multimodal approach, the company applies technology-driven methods to create the best solution for each customer. J.B. Hunt provides transportation services throughout the US, Canada, and Mexico. The company currently employs more than 27,000 employees, operates more than 15,000 trucks, contracts with more than 60,000 third-party carriers, and maintains more than 128,000 trailers and containers in the company's fleet. [7][8]

Operations[edit]

The company is divided into segments, each one with different functions and services.[9]

Dedicated Contract Services (DCS)[edit]

Started in 1992, DCS typically provides fleet services for companies that operate a private fleet or have already outsourced their fleet. DCS specializes in the design, development, and execution of supply chain solutions that support a variety of transportation networks.

DCS unit began a pilot service Final Mile Services specializing in big and bulky, in-home or worksite deliveries by employee drivers or third-party carriers. Final Mile Services has made two acquisitions in recent years: Special Logistics Dedicated in 2017[10] and Cory 1st Choice Home Delivery in 2018.[11] Today, DCS is the largest dedicated fleet provider in the U.S., and Final Mile Services can reach 100% of the population of the continental United States.[12]

Intermodal (JBI)[edit]

The JBI segment began operations in 1989 with a partnership with the former Santa Fe Railway (now the BNSF Railway Company). The segment operates the largest fleet of company-owned 53' containers and drayage fleets in North America ans its focused on reducing its carbon footprint.[13] Intermodal customers have access to a variety of transportation options, including containerized dry freight, temperature controlled, international, and transloading. J.B. Hunt utilizes a comprehensive telematics solution to maintain visibility to the location and loaded/empty status for all intermodal containers and over-the-road trailers.[14]

Integrated Capacity Solutions (ICS)[edit]

The ICS segment provides traditional freight brokerage and transportation logistics solutions for full truckload, less than truckload, refrigerated, and flatbed freight by arranging for transportation by third-party carriers that, in some instances, will utilize the company’s trailing equipment.[15] ICS matches shippers’ freight needs with available capacity from third-party carriers. That freight matching service is now available in a digital platform, J.B. Hunt 360, to improve collaboration for shippers and carriers.[16]

J.B. Hunt 360[edit]

In 2017, J.B. Hunt began enhancing J.B. Hunt 360 as part of a five-year, $500 million technology investment. The investment helps was to improve the ability to see within the supply chain, add new automation capabilities, and draw top talent in technology, engineering, data science, and logistics.[17]

Carrier 360 is the platform from which drivers can manage every step from searching for loads to submitting invoices for payment. Carrier 360 aims to help drivers save money, find more time to drive, and have a better experience. [18] Shipper 360 is the platform from which shippers can manage all their shipments at once. It provides the technology to book shipments, track and trace, view bills of lading, and generate reports. Shippers and carriers connect to the J.B. Hunt 360 platform through the Shipper 360 and Carrier 360 desktop and mobile apps. Freight is matched inside the marketplace, providing enhanced visibility and transparency to the shipping process.[19]

Truckload (JBT)[edit]

The JBT segment provides transactional and contracted capacity solutions for customers utilizing a large fleet of company-owned trailer equipment. Truckload combines the use of company-owned trucks driven by employees, independent contractors operating under J.B. Hunt’s authority and third-party carriers to provide customized, technology-driven supply chain solutions. Expedited and international services are also available within JBT. Trailers are equipped with the latest technology to track and measure capacity, improving supply chain visibility.[20]

Highway Services[edit]

J.B. Hunt has a wide array of service offerings that can work together to suit customers’ needs. When J.B. Hunt Integrated Capacity Solutions and Truckload combine services, the solution is known as Highway Services.[21]

International[edit]

J.B. Hunt’s service also extends across North America for international customers. J.B. Hunt works with other carriers on behalf of companies to streamline freight management and provide an end-to-end solution for international customers.

In Canada, J.B. Hunt moves freight across the border and within Canada. J.B. Hunt also has a Toronto office that employs local talent, connects with niche carriers, and assists with customs documents processes. [22]

J.B. Hunt has provided service to Mexico for more than 25 years, moving freight across the border and within Mexico. Bilingual transportation experts and several local offices are available for customs documents and border crossing support.[23]

Corporate responsibility[edit]

Sustainability[edit]

J.B. Hunt’s strategic advantage derives from the company’s ability to offer multi-faceted solutions, including “hybrid” modes of transportation to create a more sustainable supply chain for customers. Loads are often converted from over-the-road truckload to intermodal. Aerodynamic, fuel efficient and/or electric trucks are also used to create green plans for customers. The engineering team works to create dynamic sustainable solutions. By optimizing loads, the team decreases empty miles for drivers and improves overall route efficiency. Engineers also help customers understand their carbon footprint (related to J.B. Hunt services) and develop a “Carbon Diet” to improve sustainability. [24]

Recently, J.B. Hunt reserved several Tesla electric trucks[25] and added the first-ever, all-electric box trucks to its fleet.[26] J.B. Hunt is also recognized as a SmartWay Carrier by the EPA[27] and a Top 75 Green Supply Chain Partner by Inbound Logistics.[28]

Safety[edit]

J.B. Hunt has made considerable investments in safety over the past two decades. Safety is one of J.B. Hunt’s core values and part of its corporate culture. In addition to complying with industry-relevant laws and mandates, J.B. Hunt makes its contribution to public road safety in a variety of ways—driver training, drug testing, and investing in technologies to make drivers and equipment safer.[29]

J.B. Hunt has an extensive screening process for drivers. Driver applicants undergo background screenings and road tests.  Since 2006, J.B. Hunt has used hair testing during pre-employment screenings in addition to Federal Motor Carrier Safety Administration (FMCSA) mandated urine testing. Hair testing offers a longer detection window, which typically proves to be more reliable in detecting lifestyle drug users. Both hair and urine tests are also administered to drivers on a random basis.[30]

Training is an ongoing process for J.B. Hunt drivers. All drivers are also trained and certified in Smith System, a comprehensive driver safety training program, and are periodically re-certified. This training consists of classroom instruction and in-vehicle safety training on the principles and application of defensive driving techniques. Drivers receive additional training on topics and materials that are customized to a driver’s job specific functions to ensure proficiency at performing assigned duties.[31][32]

J.B. Hunt Class 8 tractors are specified with advanced driver assist technologies such as forward collision warning systems, adaptive cruise control, automatic emergency braking, and forward-facing cameras.[33]

Since 1996, the company has given nearly $27 million in bonuses to nearly 3,500 drivers with at least 1 million safe miles, the drivers that achieve this milestone are honored with Million Mile Walk of Fame, a long-standing tradition where employees line four flights of stairs to congratulate the drivers with applause and high-fives. Each driver also received additional recognition on J.B. Hunt’s Million Mile Wall, which lists the more than 3,600 J.B. Hunt drivers who have achieved one million-plus safe miles. The Million Mile event is one of the highest honors for J.B. Hunt drivers and their families. The company implemented the Million Mile program in 1996 and has hosted the ceremony since 2001. [34]

Recognition and Awards[edit]

Over the years, the company has been a recipient of several awards and recognition:[35]

  • Named One of America's Best Employers by Forbes
  • Named to Fortune 500 List for Sixth Consecutive Year
  • Earned Top Five Position on FreightWaves Inaugural Freight.Tech 25
  • Named Top 10 3PL by Inbound Logistics for Ninth Consecutive Year
  • Named 2019 Military Friendly Employer by VIQTORY for Twelfth Consecutive Year
  • Earned 2018 SmartWay Award from the EPA for Ninth Consecutive Year
  • Ranked Fourth on Transport Topics Top 100 Largest For-Hire Carriers
  • Ranked Sixth on Transport Topics Top 50 Logistics Companies
  • Named Top 3PL & Cold Storage Provider by Food Logistics for Sixth Time
  • Received Three Quest for Quality Awards from Logistics Management
  • Named Top 100 Trucker by Inbound Logistics
  • Named Top 75 Green Supply Chain Partner by Inbound Logistics

Executive leadership[edit]

As of September 15, 2019, the following individuals are the executives of the company:[36]

  • James Kirk Thompson – Chairman of the Board
  • John Roberts – President and CEO
  • David Mee – EVP, Finance and Admin, and CFO
  • Nicholas Hobbs – EVP, President of Dedicated Contract Services
  • Stuart Lockard Scott – EVP, Chief Information Officer
  • Terrence Matthews – EVP, President of Intermodal
  • Shelley Simpson – EVP, Chief Commercial Officer, and President of Highway Services
  • Alfred Craig Harper – EVP, Chief Operations Officer
53 foot container

See also[edit]

References[edit]

  1. ^ "J.B. Hunt Transport Services". Fortune. Retrieved 2018-12-21.
  2. ^ "US SEC: Form 10-K J.B. Hunt Transport Services, Inc". U.S. Securities and Exchange Commission. Retrieved March 2, 2018.
  3. ^ "Johnelle Hunt tells life story to trucking executives, ATA members". Talk Business & Politics.
  4. ^ Schwartz, Marvin, 1948- (1992). J.B. Hunt : the long haul to success. Fayetteville: University of Arkansas Press. ISBN 1557282501. OCLC 24794029.CS1 maint: multiple names: authors list (link)
  5. ^ "J B Hunt Transport Services Inc". Newsweek. 2017-12-06. Retrieved 2019-09-13.
  6. ^ "Why J.B. Hunt Transport Leads the Trucking Intermodal Space - Market Realist". Retrieved 2019-09-13.
  7. ^ "J.B. Hunt Transport Services, Inc. Named to Fortune 500 List for Seventh Consecutive Year". www.businesswire.com. 2019-05-16. Retrieved 2019-09-13.
  8. ^ "J.B. Hunt Transport Services Inc. | Encyclopedia.com". www.encyclopedia.com. Retrieved 2019-09-14.
  9. ^ "J.B. Hunt Transport Services on the Forbes Global 2000 List". Forbes. Retrieved 2019-09-14.
  10. ^ "Today's Pickup: J.B. Hunt acquires Specialized Logistics Dedicated". FreightWaves. 2017-07-24. Retrieved 2019-09-14.
  11. ^ Smith, Jennifer. "J.B. Hunt Builds Up the Last Mile". WSJ. Retrieved 2019-09-15.
  12. ^ "Fleets Target Opportunities in Growing Final-Mile Sector". Transport Topics. 2018-07-13. Retrieved 2019-09-14.
  13. ^ "J.B. Hunt touts one million Intermodal loads in 2010". www.ccjdigital.com. Retrieved 2019-09-14.
  14. ^ "A look into J.B. Hunt's Intermodal segment - Market Realist". Retrieved 2019-09-14.
  15. ^ "J.B. Hunt's Integrated Capacity Solutions segment - Market Realist". Retrieved 2019-09-14.
  16. ^ "J.B. Hunt: Leading the Way into the Age of Digitized Trucking – Technology and Operations Management". digital.hbs.edu. Retrieved 2019-09-14.
  17. ^ Gilroy, Roger W. (2017-05-08). "J.B. Hunt Plans to Invest $500 Million in 'Disruptive' Supply Chain Tech". Transport Topics. Retrieved 2019-09-16.
  18. ^ "Rapid-fire pitch: J.B. Hunt's third version of Carrier 360 aims to ease load matching". FreightWaves. 2018-12-21. Retrieved 2019-09-16.
  19. ^ Staff. "J.B. Hunt Launches Online Marketplace for Shippers and Carriers". www.truckinginfo.com. Retrieved 2019-09-16.
  20. ^ "J.B. Hunt Transport Services, Inc. 10-K Feb. 22, 2019 12:09 PM". Seeking Alpha. Retrieved 2019-09-14.
  21. ^ "J.B. Hunt announces promotion of Shelley Simpson". Talk Business & Politics.
  22. ^ Topics, Transport (2017-03-30). "J.B. Hunt Inc. Opens Its First Enterprise Sales Branch in Canada". Transport Topics. Retrieved 2019-09-14.
  23. ^ "J.B. Hunt opens first sales branch in Mexico". www.ccjdigital.com. Retrieved 2019-09-14.
  24. ^ "Load Optimization". Fleet Owner. 2003-10-01. Retrieved 2019-09-16.
  25. ^ Smith, Jennifer. "Tesla's Electric Semi Truck Gets Orders From Wal-Mart and J.B. Hunt". WSJ. Retrieved 2019-09-15.
  26. ^ "J.B. Hunt Transport Services Takes Delivery of First All-Electric Trucks". Transport Topics. 2018-12-05. Retrieved 2019-09-15.
  27. ^ US EPA, OAR (2016-09-07). "SmartWay High Performers: Multimodal Carriers". US EPA. Retrieved 2019-09-15.
  28. ^ "75 Green Supply Chain Partners - Inbound Logistics". www.inboundlogistics.com. Retrieved 2019-09-15.
  29. ^ "J.B. Hunt Transport Services, Inc. Recognized by the Arkansas Trucking Association as the 2007 Corporate Fleet Safety Grand Champion". www.businesswire.com. 2008-05-28. Retrieved 2019-09-16.
  30. ^ "Truck Driver Hair Testing Moves Forward at J.B. Hunt". Psychemedics. 2013-06-27. Retrieved 2019-09-16.
  31. ^ "What sets J.B. Hunt apart from its competitors? - Market Realist". Retrieved 2019-09-16.
  32. ^ "5 Rules of the Smith System". Top Driver Driving School. 2018-11-07. Retrieved 2019-09-16.
  33. ^ Barradas, Samuel (2017-11-03). "Trucking Alliance May Require Driver-Facing Cameras In All Its Trucks". TruckersReport.com. Retrieved 2019-09-16.
  34. ^ "77 J.B. Hunt drivers honored for millions of miles of safe driving". Talk Business & Politics.
  35. ^ "JBHunt.jobs - Awards". www.jbhunt.com. Retrieved 2019-09-16.
  36. ^ "JBHT Company Profile & Executives - J.B. Hunt Transport Services Inc. - Wall Street Journal". quotes.wsj.com. Retrieved 2019-09-15.

External links[edit]