J.B. Hunt Signs Long-Term Intermodal Agreement With Walmart
February 22 2024 - 9:00AM
Business Wire
J.B. Hunt Transport Services Inc. (NASDAQ: JBHT), one of the
largest supply chain solutions providers in North America,
announced today that its subsidiary, J.B. Hunt Transport Inc., has
entered into a multi-year intermodal service agreement with
Walmart, in an arrangement that includes J.B. Hunt’s purchase of
Walmart’s intermodal assets.
The strategic service agreement increases the companies’
respective current volume and capacity commitments and enables the
development of comprehensive intermodal solutions to drive
long-term value for both organizations. In connection with the
service agreement and increased commitments, J.B. Hunt will acquire
Walmart’s operational intermodal container and chassis fleets.
For decades, J.B. Hunt has worked closely with Walmart to
provide efficient transportation solutions. “Mr. Hunt always said
‘Good partners attract good partners,’" said Spencer Frazier,
executive vice president of sales and marketing at J.B. Hunt. "Our
customers trust us to develop solutions that scale and drive
efficiencies across their ever-changing supply chains. Today’s
announcement is a testament to the mutual trust and shared vision
our companies have developed over time, and innovative arrangements
like this one demonstrate J.B. Hunt’s disciplined approach to
strategically allocating capital to advance our mission of driving
long-term value for our people, customers and shareholders.”
“Finding new ways to serve our customers and members and exceed
their expectations is important to us,” said Fernando Cortes,
senior vice president of transportation at Walmart. “Walmart’s long
history of working with J.B. Hunt has many milestones of innovation
and growth. This agreement will strengthen our commitment to
delivering goods at an every day low cost to our customers and
members.”
J.B. Hunt is an industry leader in converting over-the-road
shipments to intermodal, which reduces a shipment’s carbon
footprint by an average of 60%. Operating one of the largest
company-owned intermodal fleets in the world, J.B. Hunt Intermodal
specializes in domestic and international freight movement that
offers dependable, consistent and flexible shipping options,
including ocean, transloading, temperature-controlled and expedited
capabilities.
J.B. Hunt has long-standing relationships with the industry’s
leading rail providers, and in recent years, has worked alongside
them to enhance service quality and consistency. In 2023, J.B. Hunt
and its long-time joint service provider BNSF Railway launched
Quantum, a breakthrough intermodal service to convert
service-sensitive highway freight to intermodal. The two also
created a new service option to support cross-border freight
movement to and from Mexico with coast-to-coast access in the
U.S.
About J.B. Hunt
J.B. Hunt’s vision is to create the most efficient
transportation network in North America. The company’s
industry-leading solutions and mode-neutral approach generate value
for customers by eliminating waste, reducing costs and enhancing
supply chain visibility. Powered by one of the largest
company-owned fleets in the country and third-party capacity
through its J.B. Hunt 360°® digital freight marketplace, J.B. Hunt
can meet the unique shipping needs of any business, from first mile
to final delivery, and every shipment in-between. Through
disciplined investments in its people, technology and capacity,
J.B. Hunt is delivering exceptional value and service that enable
long-term growth for the company and its stakeholders.
J.B. Hunt Transport Services Inc. is a Fortune 500 company, an
S&P 500 company and a component of the Dow Jones Transportation
Average. Its stock trades on NASDAQ under the ticker symbol JBHT.
J.B. Hunt Transport Inc. is a wholly owned subsidiary of JBHT. The
company’s services include intermodal, dedicated, refrigerated,
truckload, less-than-truckload, flatbed, single source, last mile,
transload and more. For more information, visit www.jbhunt.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240222096987/en/
Brittnee Davie Vice President - Marketing press@jbhunt.com
Brad Delco Senior Vice President – Finance
investors@jbhunt.com
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