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J.B. Hunt Transport Services Inc. reports developments in North American supply chain and surface transportation operations. The company provides intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single-source, last mile and transload services, using company-owned fleet capacity and third-party capacity through the J.B. Hunt 360° digital freight marketplace.
Recurring news for JBHT includes U.S. GAAP earnings releases, segment trends in Intermodal, Dedicated Contract Services, Truckload and Integrated Capacity Solutions, quarterly dividend actions, investor conference participation, safety programs, sustainability recognition and common stock listing updates. Company updates also reference its role as an S&P 500 company and a component of the Dow Jones Transportation Average.
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J.B. Hunt Transport Services has announced enhancements to its J.B. Hunt 360° technology platform, introducing temperature-controlled transportation services within Shipper 360. Over 10,000 carriers will now provide temperature-controlled delivery options, with shippers able to book shipments in as little as three minutes. The updated platform offers features like flexible shipping windows and real-time rates, empowering businesses to respond more effectively in the freight market. J.B. Hunt's commitment to innovation aims to create an efficient transportation network in North America.
J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) has acquired the assets of Mass Movement, Inc. as of November 30, enhancing its final mile delivery capabilities for the commercial health and fitness sector. Mass Movement, which generated $29 million in revenue in 2019, brings over 20 years of experience in logistics and delivery of fitness equipment. The acquisition is part of J.B. Hunt's strategy to expand its Final Mile Services and follows three previous acquisitions since 2017. The transaction was funded with cash on hand.
J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) secured the seventh position on FreightWaves' 2021 FreightTech Awards, acknowledging its innovation in the transportation sector. This recognition highlights the company's consistent performance, ranking among the top companies for three consecutive years since the awards began in 2019. J.B. Hunt's technology platform, J.B. Hunt 360°, continues to evolve, enhancing digital freight matching across various transportation modes. New features like electronic bill of lading have streamlined operations, showcasing the company's commitment to advancing supply chain solutions.
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J.B. Hunt Transport Services (NASDAQ: JBHT) will participate in two upcoming virtual conferences: Baird's Global Industrial Conference on November 10, 2020, at 10:15 a.m. ET and Stephens’ Annual Investment Conference on November 17, 2020, at 10:00 a.m. ET. The events will feature fireside chats accessible via the investor section of their website. The company cautions that discussions may include forward-looking statements subject to uncertainties. For updates, interested parties can visit www.jbhunt.com.
J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) has declared a quarterly dividend of $0.27 per common share, set to be paid on November 20, 2020. Stockholders must be on record by November 6, 2020 to receive the dividend. This reflects the company's commitment to returning value to shareholders. As an S&P 500 company, J.B. Hunt provides innovative supply chain solutions, utilizing a multimodal approach to enhance operational efficiency across various transport services.
J.B. Hunt Transport Services reported third quarter 2020 net earnings of $125.5 million, or $1.18 per diluted share, compared to $118.4 million or $1.10 per share in Q3 2019. Total operating revenue reached $2.47 billion, up from $2.36 billion in the prior year, driven by a 25% increase in revenue per load in Integrated Capacity Solutions. Operating income totaled $175.5 million, reflecting an increase from $167.9 million in Q3 2019. However, despite revenue growth, challenges remain with rising costs, particularly in rail transportation and driver wages.