Profile: J B Hunt Transport Services Inc (JBHT.OQ)
7 Mar 2014
J.B. Hunt Transport Services, Inc. (JBHT), incorporated on August 10, 1961, is a holding company and together with its wholly owned subsidiaries, operates as a surface transportation and delivery services to a diverse group of customers and consumers throughout the continental United States, Canada and Mexico. The Company operates in four segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), and full-load dry-van (JBT).The Company's service offerings include transportation of full-truckload containerized freight, which the Company directly transports utilizing its company-controlled revenue equipment and company drivers or independent contractors. The Company also provides customized freight movement, revenue equipment, labor, systems and delivery services that are tailored to meet individual customers' requirements and typically involve long-term contracts. These services include multiple pickups and drops, local and home deliveries, freight handling, specialized equipment and freight network design.
The Company's local and home delivery services typically are provided through a network of cross-dock service centers throughout the continental United States. The Company also provides comprehensive transportation and logistics services. In addition to dry-van, full-load operations, these unrelated outside carriers also provide flatbed, refrigerated, less-than-truckload (LTL) and other specialized equipment, drivers and services.
The transportation service offerings of the Company's JBI segment utilize arrangements with North American rail carriers to provide intermodal freight solutions for its customers throughout the continental United States, Canada and Mexico. JBI draws on the intermodal services of rail carriers for the underlying linehaul movement of its equipment between rail ramps. JBI operates 58,962 pieces of trailing equipment systemwide. The fleet primarily consists of 53-foot, high-cube containers and is designed to take advantage of intermodal double-stack economics and superior ride quality. The Company also owns and maintains its own chassis fleet, consisting of 55,361 pieces. JBI also manages a fleet of 3,124 tractors, 472 independent contractor trucks and 3,859 company drivers who maintain the Company's high service standards.
DCS focuses on private fleet conversion and creation in final-mile delivery, replenishment and specialized equipment and services. The Company also specializes in the design, development and execution of supply-chain solutions that support a variety of transportation networks. The Company's final-mile delivery services are supported with a network of approximately 88 cross-dock locations nationwide, with 98% of the continental U.S. population living within 150 miles of a cross-dock location. At December 31, 2012, this segment operated 4,844 trucks, 394 customer-owned trucks, and 15 independent contractor trucks.
ICS provides traditional freight brokerage and transportation logistics solutions to customers through relationships with thousands of third-party carriers and integration with the Company's owned equipment. By leveraging the J.B. Hunt brand, systems and network, the Company provides a broader service offering to customers by providing flatbed, refrigerated, expedited and LTL, as well as a variety of dry-van and intermodal solutions. ICS provides single-source logistics management for customers that desire to outsource their transportation functions and utilize the Company's supply-chain technology and design to improve efficiency. ICS operates 15 remote sales offices or branches, as well as on-site logistics personnel working in direct contact with customers.
The service offering in this segment is full-load, dry-van freight, utilizing tractors operating over roads and highways. The Company typically picks up freight at the dock or specified location of the shipper and transport the load directly to the location of the consignee. The Company uses the Company-owned tractors and employee drivers or independent contractors, who agrees to transport freight in its trailers. At December 31, 2012, the JBT segment operated 1,192 tractors and employed 1,674 people, 1,282 of whom were drivers. At December 31, 2012, the Company had 901 independent contractors operating in the JBT segment, some of whom were leasing tractors.
J B Hunt Transport Services Inc
615 J.B. Hunt Corporate Drive
LOWELL AR 72745-0130