JB Hunt Transport Services Inc. (NASDAQ:JBHT) Q3 2020 Earnings Conference Call - Final Transcript

Oct 16, 2020 • 10:00 am ET


JB Hunt Transport Services Inc. (NASDAQ:JBHT) Q3 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to J.B. Hunt's Third Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions]

I'd now like to hand the conference over to your speaker for today, Brad Delco, Vice President of Finance and Investor Relations. Thank you. Please go ahead.

Brad Delco

Good morning, and thanks for joining us. Before I introduce the speakers on today's call, I'd like to take some time to provide some disclosures regarding forward-looking statements. This call may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as expects, anticipates, intends, estimates or similar expressions are intended to identify these forward looking statements.

These statements are based on J.B. Hunt's current plans and expectations and involve risk and uncertainties that could cause future activities and results to be materially different from those set forth in the forward-looking statements. For more information regarding risk factors, please refer to J.B. Hunt's Annual Report on Form 10-K and other reports and filings with the Securities and Exchange Commission.

Now, I would like to introduce the speakers on today's call. This afternoon I'm joined by our CEO, John Roberts; our Interim CFO, Chief Accounting Officer, Controller and SVP of Finance, John Kuhlow; Shelley Simpson, our Chief Commercial Officer and President of Highway Services; Nick Hobbs, President of Dedicated and Final Mile Services; and Darren Field, President of Intermodal.

At this time, I'd like to turn the call to our CEO, Mr. John Roberts, for some opening comments. John?

John N. Roberts

Thanks, Brad. Well, we are all learning to live with the changes that have been presented by the virus. When we began in mid-March, the response to a very sudden change in how we do business was incredible. From day one, we had to pivot to a new normal on the go and we are so proud of our teams across the country for the different ways we have found to make it work. As noted, we set out our priorities to deal with the situation clearly and from the start, take care of the health and safety of our people and work hard to honor the commitments we have made to our customers.

Initially, the adrenalin pushed us through, but over time, we start to see while we work together in person, the benefits of being together and collaborating, building on our culture, solving problems as a team and sharing time with each other showed their value to us more than -- more now than ever. This reality is profit good work to find ways to begin coming back together, particularly in our corporate offices very slowly and very carefully. We should also call out that due to the nature of the business, 75% of our people in the field have been effectively in position since day one of the crisis. Our drivers in so many of