J.B. Hunt

“Difficulty in attracting and retaining drivers and delivery personnel could affect our profitability and ability to grow. If we are unable to attract and retain the necessary quality and number of employees, we could be required to significantly increase our employee compensation package, let revenue equipment sit idle, dispose of the equipment altogether, or rely more on higher-cost third-party carriers, which could adversely affect our growth and profitability.”

Annual report 2025A · The company itself

“Human Capital Resources General Despite operating over 190,000 pieces of transportation equipment, our single greatest asset and one of the factors differentiating us from our competitors is our service-oriented people. We strive to provide a supportive and safe work environment for our employees, where their innovative ideas can be fostered to solve problems and provide value-added services for our customers. We put forth our best effort to support initiatives that benefit our people and reflect our company values of integrity, respect, innovation, safety, and excellence.”

Annual report 2025A · The company itself

“In managing the Company’s business, our executive leadership focuses on investments in our employees across the dimensions of culture, career, and wellness designed to increase talent attraction, development, and retention. These include but are not limited to competitive compensation and benefits, paid time off, employee retirement plans, bonus and other incentive compensation plans, modern equipment and support, employee listening programs connecting feedback with business action, leadership development, recognition, and various other programs to benefit employees and their families.”

Annual report 2025A · The company itself

“Our service offerings include transportation of full-truckload containerized freight, which we directly transport utilizing our company-controlled revenue equipment and company drivers, independent contractors or third-party carriers. We have arrangements with most of the major North American rail carriers to transport freight in containers or trailers, while we perform the majority of the pickup and delivery services.”

Annual report 2025A · The company itself

“We also provide 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 arrangements are generally referred to as dedicated services and may include multiple pickups and drops, freight handling, specialized equipment, and freight network design.”

Annual report 2025A · The company itself

“In addition, we provide or arrange for local and home delivery services, generally referred to as last-mile delivery services, to customers through a network of cross-dock and other delivery system locations throughout the continental United States.”

Annual report 2025A · The company itself

“Utilizing thousands of reliable third-party carriers, we also provide comprehensive freight transportation brokerage and logistics services. In addition to dry-van, full-load operations, we also arrange for these unrelated outside carriers to provide flatbed, refrigerated, less-than-truckload (LTL), and other specialized equipment, drivers, and services.”

Annual report 2025A · The company itself

“Revenue for the JBI segment in 2025 was $5.98 billion.”

Annual report 2025A · The company itself

“DCS revenue for 2025 was $3.38 billion.”

Annual report 2025A · The company itself

“ICS revenue for 2025 was $1.11 billion.”

Annual report 2025A · The company itself

“At December 31, 2025, we had 2,003 independent contractors operating in the JBT segment.”

Annual report 2025A · The company itself

“Increasingly, our customers are seeking energy-efficient transportation solutions to reduce both cost and greenhouse-gas emissions. Our Company’s vision, to create the most efficient transportation network in North America, focuses on delivering both for our customers across all of our business segments. We seek to accomplish this by maintaining a modern fleet to maximize fuel efficiency, converting loads from truck to rail with our intermodal service, and introducing technologies to optimize freight flows in the supply chain by eliminating waste.”

Annual report 2025A · The company itself

“Additionally, we continue to test and explore the usage of alternative fuel vehicles. Efforts to improve fleet fuel efficiency and reduce greenhouse gas emissions are ongoing.”

Annual report 2025A · The company itself

“Increasingly, our customers are seeking energy-efficient transportation solutions to reduce both cost and greenhouse-gas emissions. Our Company’s vision, to create the most efficient transportation network in North America, focuses on delivering both for our customers across all of our business segments. We seek to accomplish this by maintaining a modern fleet to maximize fuel efficiency, converting loads from truck to rail with our intermodal service, and introducing technologies to optimize freight flows in the supply chain by eliminating waste.”

Annual report 2025A · The company itself

“Our customer base includes a large number of Fortune 500 companies.”

Annual report 2025A · The company itself

“We have a fuel surcharge revenue program in place with the majority of our customers, which has historically enabled us to recover the majority of higher fuel costs. Most of these programs automatically adjust weekly depending on the cost of fuel. However, there can be timing differences between a change in our fuel cost and the timing of the fuel surcharges billed to our customers.”

Annual report 2025A · The company itself

“The price and availability of diesel fuel are subject to fluctuations due to changes in the level of global oil production, seasonality, weather, and other market factors. Historically, we have been able to recover a majority of fuel-price increases from our customers in the form of fuel surcharges. We cannot predict the extent to which volatile fluctuations in fuel prices will continue in the future or the extent to which fuel surcharges could be collected to offset fuel-price increases.”

Annual report 2025A · The company itself

“Rapid changes in fuel costs could impact our periodic financial results. Fuel costs can be very volatile.”

Annual report 2025A · The company itself

“Risks Related to Our Industry Our business can be significantly impacted by economic conditions, customer business cycles, government policies, and seasonal factors. Our business is dependent on the freight shipping needs of our customers, which can be heavily impacted by economic conditions and other factors affecting their businesses.”

Annual report 2025A · The company itself

“Recessionary economic cycles and downturns in customers’ business cycles, particularly in market segments and industries where we have a significant concentration of customers, may substantially reduce freight volumes for which our customers need transportation services and lead to excess capacity in the industry and resulting pressure on the rates we are able to obtain for our services.”

Annual report 2025A · The company itself

“In addition, our results of operations may be affected by seasonal factors. Customers tend to reduce shipments after the winter holiday season, and our operating expenses tend to be higher in the winter months, primarily due to colder weather, which causes higher fuel consumption from increased idle time and higher maintenance costs.”

Annual report 2025A · The company itself

“Extreme or unusual weather conditions can disrupt our operations, impact freight volumes, and increase our costs, all of which could have a material adverse effect on our business results. Certain weather conditions such as ice and snow can disrupt our operations. Increases in the cost of our operations, such as towing and other maintenance activities, frequently occur during the winter months. Natural disasters such as hurricanes and flooding can also impact freight volumes and increase our costs.”

Annual report 2025A · The company itself

“We operate in a regulated industry, and increased direct and indirect costs of compliance with, or liability for violation of, existing or future regulations could have a material adverse effect on our business. The DOT, FMCSA, and various state agencies exercise broad powers over our business, generally governing matters including authorization to engage in motor carrier service, equipment operation, safety, and financial reporting.”

Annual report 2025A · The company itself

“We are audited periodically by the DOT to ensure that we are in compliance with various safety, hours-of-service, and other rules and regulations. If we were found to be out of compliance, the DOT could restrict or otherwise impact our operations.”

Annual report 2025A · The company itself

“Regulation Our operations as a for-hire motor carrier are subject to regulation by the U.S. Department of Transportation (DOT) and the Federal Motor Carrier Safety Administration (FMCSA), and certain business is also subject to state rules and regulations.”

Annual report 2025A · The company itself

“An inability to develop, adopt, and integrate new or enhanced technologies, including rapidly evolving artificial intelligence, could have a material adverse effect on our business. We operate in a rapidly evolving, technology-driven environment, and if we do not timely identify, prioritize, develop, and successfully integrate new or enhanced technologies into our operations, our service quality, efficiency, and competitiveness could suffer.”

Annual report 2025A · The company itself

“The rapid evolution and adoption of artificial intelligence(AI) and any efforts we may make to incorporate it into our business may amplify cyber, legal, and operational risks. AI adoption may introduce or amplify risks, including inaccurate or biased outputs that are difficult to detect, governance and model-risk challenges, privacy and intellectual property concerns, and evolving legal disclosure obligations. AI can also increase cybersecurity exposure as threat actors leverage AI to enhance social-engineering and intrusion techniques.”

Annual report 2025A · The company itself

“Our operations are subject to various environmental laws and regulations, including legislative and regulatory responses to climate change. Compliance with environmental requirements could result in significant expenditures and the violation of these regulations could result in substantial fines or penalties.”

Annual report 2025A · The company itself

“We are also subject to existing and potential future laws and regulations with regards to public policy on climate change. If current regulatory requirements become more stringent or new environmental laws and regulations regarding climate change are introduced, we could be required to make significant expenditures or abandon certain activities, which could have a material adverse effect on our business and operating results.”

Annual report 2025A · The company itself

“An inability to develop, adopt, and integrate new or enhanced technologies, including rapidly evolving artificial intelligence, could have a material adverse effect on our business. We operate in a rapidly evolving, technology-driven environment, and if we do not timely identify, prioritize, develop, and successfully integrate new or enhanced technologies into our operations, our service quality, efficiency, and competitiveness could suffer.”

Annual report 2025A · The company itself

“QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Interest rate risk can be quantified by measuring the financial impact of a near-term adverse increase in short-term interest rates on variable-rate debt outstanding. Our total long-term debt consists of both fixed and variable interest rate facilities.”

Annual report 2025A · The company itself

“Our business can be significantly impacted by the effects of national or international health pandemics on general economic conditions and the operations of our customers and third-party suppliers and service providers. Our operations can be heavily impacted by the effects of a widespread outbreak of contagious disease. The effects of a pandemic may disrupt or restrict the freight shipping activities of some of our customers, on which our business is dependent.”

Annual report 2025A · The company itself

“We also utilize independent contractors and third-party carriers to complete our services. These third parties are subject to similar regulation requirements, which may have a more significant impact on their operations, causing them to exit the transportation industry.”

Annual report 2025A · The company itself

“Rapid changes in government or political policies, including border or trade policies and tariffs, can also impact our customers operations and reduce their need for freight shipping, or may have an impact on the cost or availability of our equipment.”

Annual report 2025A · The company itself

“Although we conduct business in foreign countries, international operations are not material to our consolidated financial position, results of operations, or cash flows. Additionally, foreign currency transaction gains and losses were not material to our results of operations for the year ended December 31, 2025.”

Annual report 2025A · The company itself