JBHT · 10-K filed 24 Feb 2026 · year to 31 Dec 2025

J.B. Hunt Transport Services

18 named things its latest annual report says its results depend on, each in the company's own words. 12 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Top 10 customers

concentrated in · approximately 33% of our revenuenamed as a risk

For the calendar year ended December 31, 2025, our top 10 customers, based on revenue, accounted for approximately 33% of our revenue.Risk factors (Item 1A)

Also named by AESI, CLS, COR, ECG, MTSI, MYRG, Q, VEEV and 1 more

Suppliers

Third-party carriers and independent contractors

depends on · approximately 126,000 available third-party carriersnamed as a risk

The inability to obtain reliable third-party carriers and independent contractors could have a material adverse effect on our operating results and business growth.Risk factors (Item 1A)

BNSF Railway Company (BNSF)

depends onnamed as a risk

While we have agreements with a number of Class I railroads, the majority of our business travels on the BNSF and the Norfolk Southern railways.Risk factors (Item 1A)

Also named by UNP

Norfolk Southern Railway

depends onnamed as a risk

While we have agreements with a number of Class I railroads, the majority of our business travels on the BNSF and the Norfolk Southern railways.Risk factors (Item 1A)

Also named by CSX

Other companies

SOFR

exposed to its price · $0.3 millionnamed as a risk

At our current level of borrowing, a one-percentage-point increase in our applicable rate would reduce annual pretax earnings by $0.3 million.Market risk (Item 7A)

Also named by AAP, AIOT, APG, APH, ARES, AXON, BGC, BR and 82 more

Places

U.S. ports of call

depends onnamed as a risk

Work stoppages or other disruptions at any of these ports could have a material adverse effect on our business.Risk factors (Item 1A)

Hazards

Winter weather (ice and snow)

named as a risk

Certain weather conditions such as ice and snow can disrupt our operations.Risk factors (Item 1A)

Also named by CHRD, DY, IBP, ODFL, QXO, XPO

Hurricanes and flooding

named as a risk

Natural disasters such as hurricanes and flooding can also impact freight volumes and increase our costs.Risk factors (Item 1A)

Also named by CSX, FCNCA

Commodities and inputs

Diesel fuel

exposed to its pricenamed as a risk

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.Market risk (Item 7A)

Also named by ADM, BLDR, BTU, CAH, CHD, CHRW, COST, CP and 43 more

Auto liability insurance

exposed to its pricenamed as a risk

We have experienced substantial increases in the cost of auto liability claims and in recent periods these increases have exceeded our insurance coverage layers, which has adversely impacted our operating results.Risk factors (Item 1A)

Revenue equipment (trucks, chassis, trailing equipment)

depends onnamed as a risk

Any significant delays in the availability of new revenue equipment or increases in the cost of such equipment could have a material adverse affect on our business and profitability by reducing productivity, increasing maintenance expenses and capital expenditures, and limiting our ability to expand our business.Risk factors (Item 1A)

Regulators

U.S. Department of Transportation (DOT)

subject tonamed as a risk

If we were found to be out of compliance, the DOT could restrict or otherwise impact our operations.Risk factors (Item 1A)

Also named by ACHR, AESI, ALK, BLDR, CHRW, CTAS, DAL, EXPE and 19 more

Federal Motor Carrier Safety Administration (FMCSA)

subject tonamed as a risk

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.Risk factors (Item 1A)

Also named by CASY, CVLG, ET, FDXF, HTLD, IOT, LSTR, R and 5 more

U.S. Environmental Protection Agency

subject to

We are also subject to a variety of requirements of national, state, and local governments, including the U.S. Environmental Protection Agency and the Occupational Safety and Health Administration.Business (Item 1)

Also named by AAON, AAP, ALSN, AMRC, APA, APD, APG, AROC and 78 more

U.S. Customs and Border Protection

subject to

Our operations into and out of Canada and Mexico are subject to regulation by those countries as well as U.S. Customs and Border Protection with respect to cross-border trade and security compliance.Business (Item 1)

Also named by BALL, BJ, CHRW, CROX, EXPD, FDX, FDXF, KLAC and 12 more

Laws and programs

Tariffs and trade policy

subject tonamed as a risk

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.Risk factors (Item 1A)

Also named by ADSK, CTAS, EMR, EXP, FDX, FLR, GWW, HPE and 8 more

California independent contractor classification law

subject tonamed as a risk

The laws of several states, including California, apply stricter tests for determining whether an independent contractor should be classified as an employee.Risk factors (Item 1A)

Technology

J.B. Hunt 360

depends onnamed as a risk

We have also invested significantly in the development of our Marketplace for J.B. Hunt 360 online freight matching platform.Risk factors (Item 1A)