J.B. Hunt Transport Services, Inc. (JBHT) Morgan Stanley’s 14th Annual Laguna Conference September 15, 2026 6:20 PM EDT
Company Participants
Brad Delco – EVP of Finance & Chief Financial Officer
Darren Field – Executive VP & President of Intermodal
Conference Call Participants
Ravi Shanker – Morgan Stanley, Research Division
Presentation
Ravi Shanker
Morgan Stanley, Research Division
Great. Let’s kick off the session here. And very happy to welcome back to Laguna, J.B. Hunt, represented by CFO and EVP, Brad Delco, EVP and President of Intermodal, Darren Field, and Senior Director of Finance and IR, Andrew Hall. Gentlemen, thanks so much for being here.
Brad Delco
EVP of Finance & Chief Financial Officer
Thanks, Ravi. Appreciate you having us.
Question-and-Answer Session
Ravi Shanker
Morgan Stanley, Research Division
Absolutely. So let’s start talking about the cycle because that’s obviously where the focus of everybody’s attention is. And I’m sort of excited about this session, and I’m glad we can make the timing work because every Laguna conference, the feedback we get is that people sort of look at you guys to get the real temperature of where we are in the cycle. They may agree or disagree, but everybody is like,”What did J.B. Hunt say?” So just to level set your — in 1Q, you said that you believed you were in the first part of an up cycle. In 2Q, you I think, described it as a clear step change in truckload capacity following Roadcheck. What’s the right phrase for where we are right now.
Brad Delco
EVP of Finance & Chief Financial Officer
Well, I feel like you set the bar real high for this answer…
Ravi Shanker
Morgan Stanley, Research Division
No pressure, but it’s going to be the main takeaway of the conference, Day 1.
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