J.B. Hunt Transport Services(JBHT) - 2025 Q1 - Quarterly Report

Revenue Performance - Total consolidated operating revenues for Q1 2025 were $2.92 billion, a 1$2.94 billion in Q1 2024[52] - JBI segment revenue increased 5% to $1.47 billion in Q1 2025, with load volumes up 8$822 million in Q1 2025, with average revenue producing trucks down 5%[54] - ICS segment revenue decreased 6% to $268 million in Q1 2025, with overall volumes down 13$201 million in Q1 2025, primarily due to decreased customer demand[56] - JBT segment revenue totaled $167 million in Q1 2025, a 7$178 million in Q1 2024[57] Operating Expenses and Income - Total operating expenses decreased 0.3% in Q1 2025, while operating revenues decreased 0.8%[59] - Operating income decreased to $178.7 million in Q1 2025 from$194.4 million in Q1 2024[59] - Rents and purchased transportation costs increased 1.0% in Q1 2025, driven by increased JBI load volume[60] - Salaries, wages, and employee benefits costs decreased by 1.0% in Q1 2025 compared to Q1 2024, primarily due to a reduction in employee headcount[61] - Depreciation and amortization expenses decreased by 1.9% in Q1 2025, attributed to lower truck and tractor counts and reduced depreciation of information systems[62] - Fuel costs decreased by 7.8% in 2025 compared to 2024, mainly due to lower fuel prices and reduced road miles[62] - Insurance and claims expenses increased by 12.3% in 2025 compared to 2024, driven by higher claim severity and increased insurance premiums[63] Cash Flow and Investments - Net cash provided by operating activities totaled $404.2 million in Q1 2025, down from$466.5 million in Q1 2024[65] - Net cash used in investing activities increased to $225.1 million in Q1 2025 from$162.4 million in Q1 2024, primarily due to higher real estate acquisitions and equipment purchases[65] - Net capital expenditures were approximately $225.1 million in Q1 2025, compared to$166.2 million in Q1 2024, with expectations to spend between $500 million and$700 million for the full year 2025[69] Tax and Debt - The effective income tax rate decreased to 26.5% in Q1 2025 from 28.7% in Q1 2024, primarily due to lower taxable earnings[64] - The company had a $139.2 million outstanding balance under its senior credit facility at an average interest rate of 5.33% as of March 31, 2025[67] - The company expects to pay the entire outstanding balance of its senior notes maturing in 2026 using existing cash, revolving credit, or other long-term financing sources[66]