J.B. Hunt Transport Services, Inc. · JBHT · FY2026 Q2 · Calendar Q3 2026

J.B. Hunt Q2 2026: Revenue and EPS Beat as Volume Growth Accelerates Across All Segments

J.B. Hunt's Q2 2026 results show accelerating momentum from Q1, with revenue growing 19% year-over-year and EPS up 45%, beating consensus on both the top and bottom lines. The acceleration was driven by double-digit volume growth across intermodal, dedicated, and truckload segments, amplified by tight truckload capacity that is pushing demand toward J.B. Hunt's intermodal and dedicated solutions. Structural cost removal of over $135 million over the past year is delivering operating leverage. Management expressed confidence in achieving full-year truck sales targets and sustaining margin improvement, while flagging driver labor pressures and fuel headwinds as ongoing challenges. Notably, guidance was not provided this quarter, a shift from the prior quarter's maintained outlook.

Reported After market closeNASDAQIndustrials $25.93B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.91 Consensus $1.71
EPS surprise +11.7% Reported versus consensus
Reported revenue $3.50B Consensus $3.26B
Revenue surprise +7.1% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +8.0% Event window
SPY move -0.5% Same window
Abnormal move +8.6% Stock minus SPY
Volume 2.4× Versus trailing sessions
Subsequent drift -10.3% Up to 20 sessions
JBHTSPY benchmark

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What changed

Revenue growth accelerated from 5% in Q1 to 19% in Q2 year-over-year. EPS growth jumped from 27% in Q1 to 45% in Q2 year-over-year. Structural cost removal reached $135 million over the past year, up from over $30 million eliminated in Q1 alone. Intermodal container utilization reached approximately 90% with about 20% excess capacity available. Bullish score increased from 70 in Q1 to 78 in Q2. Guidance sentiment shifted from 'maintained' in Q1 to 'not provided' in Q2.

Guidance delta

Q1 2026 guidance sentiment was 'maintained'; Q2 2026 guidance was 'not provided' on the call. Capex outlook remains 'stable' from the prior quarter. DCS truck sales target moved to 1,000-1,200 annually, up from 800-1,000 new trucks in 2026 stated in Q1. Cost-to-serve program has removed over $135 million in the past year, tracking toward the $100 million multi-year target disclosed in Q1.

Key takeaways

  • Revenue reached $3.50 billion, beating estimates by 7.1%, while EPS of $1.91 exceeded consensus by 11.7%.
  • Volume growth was double-digit across JBI, JBT, Dedicated, and Intermodal services, signaling broad-based demand strength.
  • Over $135 million in structural costs removed over the past year, delivering operating leverage without compromising growth investments.
  • Tight truckload capacity is driving shippers toward intermodal and dedicated solutions, benefiting J.B. Hunt's diversified model.
  • YTD safety performance improved 11% year-over-year, continuing the operational excellence trend from Q1's record results.

Management priorities

  • Invest in additional trucks to meet the 1,000-1,200 annual DCS sales target.
  • Continue fleet and container acquisition to support intermodal growth.
  • Prepare customers for 2026/2027 bid seasons and fall peak demand.
  • Further scale technology platforms to lower cost-to-serve.
  • Maintain intermodal container utilization at approximately 90% while managing excess capacity for growth.

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Earnings History

Estimate Beat Miss Match
JBHT EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q2 '24 estimate $1.52 Q2 '24 actual $1.32, miss Q3 '24 estimate $1.42 Q3 '24 actual $1.49, beat Q2 '25 estimate $1.30 Q2 '25 actual $1.31, match Q3 '25 estimate $1.46 Q3 '25 actual $1.76, beat Q4 '25 estimate $1.81 Q4 '25 actual $1.90, beat Q1 '26 estimate $1.44 Q1 '26 actual $1.49, beat Q2 '26 estimate $1.74 Q2 '26 actual $1.91, beat Q3 '26 estimate $1.81 Q3 '26 actual $1.82, match Q4 '26 estimate $2.03 Q1 '27 estimate $1.82 Q2 '27 estimate $2.35 Q3 '27 estimate $2.74
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Analyst Consensus ?

ConsensusBuy44 ratings
Bullish2659.1%
Neutral1738.6%
Bearish12.3%

1 unmapped firm rating excluded from the percentages.

Analyst 52W Price Targets

$223.26Current
$140Low
$233.83Average
$370High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 29, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Wells Fargo Overweight OverweightMaintainOct 16, 2026
UBS Neutral NeutralMaintainOct 16, 2026
Stephens & Co. Overweight OverweightMaintainOct 16, 2026
JP Morgan Overweight OverweightMaintainOct 16, 2026
Evercore ISI Group Outperform OutperformMaintainOct 16, 2026
Show 40 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $223.26. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Goldman SachsAnalyst unavailable$252$225.75 +12.9%Oct 19, 2026
StephensBascome Majors$325$234 +45.6%Oct 16, 2026
Morgan StanleyRavi Shanker$195$233.79 -12.7%Oct 16, 2026
UBSAnalyst unavailable$273$235.31 +22.3%Oct 16, 2026
Raymond JamesAnalyst unavailable$283$235.31 +26.8%Oct 16, 2026
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Company context

Snapshot as of publication

Operating across North America, J.B. Hunt Transport Services, Inc. specializes in ground transportation, last-mile delivery, and comprehensive logistics solutions. Its operations are structured into five distinct divisions: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The Intermodal (JBI) division facilitates freight movement using multiple transport modes. This segment boasts a substantial asset base, including 104,973 company-owned trailers, a self-maintained fleet of 85,649 chassis, 5,612 company-owned tractors, 582 independent contractor vehicles, and a workforce of 6,943 company drivers. Dedicated Contract Services (DCS) focuses on engineering, implementing, and managing bespoke supply chain strategies for diverse transportation requirements.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-07-16T15:03:03.267383+00:00
  2. FN2 earnings calendar · 2026-07-30T01:23:13.872335+00:00
  3. Polygon adjusted daily market bars · 2026-07-30T18:22:37.343664+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T18:22:37.340977+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-07-30. For educational purposes only; not investment advice.