J.B. Hunt Transport Services (JBHT) 8-K Results of Operations and Financial Condition

Exhibit 99.1

J.B. Hunt Transport Services, Inc.	Contact: David G. Mee
615 J.B. Hunt Corporate Drive   Lowell, Arkansas 72745	Executive Vice President, Finance/Administration and Chief Financial Officer
(NASDAQ: JBHT)	(479) 820-8363

FORIMMEDIATERELEASE

J.B. HUNT TRANSPORT SERVICES, INC. REPORTS EARNINGS FOR THE SECOND

QUARTER 2016 AND UPDATES FULL YEAR 2016 EXPECTATIONS

■SecondQuarter2016Revenue:	$1.62 billion; up 5%
■SecondQuarter2016OperatingIncome:	$176 million;up 1%
■SecondQuarter2016EPS:	92centsvs.88cents

LOWELL, ARKANSAS, July 18, 2016 - J.B. Hunt Transport Services, Inc., (NASDAQ:JBHT) announced second quarter 2016 net earnings of $105 million, or diluted earnings per share of 92 cents vs. second quarter 2015 net earnings of $103 million, or 88 cents per diluted share.

Total operating revenue for the current quarter was $1.62 billion, compared with $1.54 billion for the second quarter 2015, an increase of 5%. Current quarter total operating revenue, excluding fuel surcharges, increased 9% vs. the comparable quarter 2015. Load growth of 9% in Intermodal (JBI) and 62% in Integrated Capacity Solutions (ICS), a 5% increase in revenue producing trucks in Dedicated Contract Services (DCS) and an 11% increase in average fleet count in our Truck (JBT) business segment, contributed to the increase in consolidated revenue compared to prior year.

Operating income for the current quarter totaled $176 million versus $174 million for the second quarter 2015. The benefits of volume growth, increases in revenue producing truck counts and higher equipment utilization, were substantially offset by increases in rail purchased transportation costs, higher driver wages and recruiting costs and increased equipment ownership costs. In the second quarter of 2015, we recorded a charge of approximately $14.1 million for corporate wide streamlining and technology redevelopment costs.

Interest expense in the current quarter decreased due to lower overall debt levels from the same period last year. The effective income tax rate for the quarter was 38.0% versus 38.1% for the second quarter 2015. The 2016 annual tax rate is expected to be approximately 38.0%.

The Company posted revised full year 2016 Financial Expectations on its website under the Investors tab atwww.jbhunt.com.

SegmentInformation:

Intermodal(JBI)

■   SecondQuarter2016SegmentRevenue:     $933million; up 3%

■   SecondQuarter2016OperatingIncome:     $105.6million;down11%

JBI load volumes grew 9% over the same period in 2015. Eastern network realized load growth of 10% and Transcontinental loads grew 8% as west coast port volumes continued a more normal velocity and rail service continued a year over year improvement trend. Revenue increased 3% reflecting the 9% volume growth, offset by a 5% decrease in revenue per load, which is the combination of customer rate changes, fuel surcharges and freight mix. Revenue per load, excluding fuel surcharge revenue decreased 1% from second quarter 2015.

Operating income decreased 11% from prior year. Benefits from volume growth, improved box utilization, lower outsourced carrier costs and reduced maintenance costs were not enough to overcome the cost increases in rail purchased transportation, equipment ownership, insurance and claims, and driver recruiting and retention. Second quarter of 2015 included approximately $6.4 million in corporate wide streamlining and technology redevelopment costs. The current period ended with 81,243 units of trailing capacity and 5,244 power units assigned to the dray fleet.

DedicatedContractServices(DCS)

■    SecondQuarter2016SegmentRevenue:     $383million;up4%

■   SecondQuarter2016OperatingIncome:     $50.5million; up 24%

DCS revenue increased 4% during the current quarter over the same period in 2015. Productivity, defined as revenue per truck per week, decreased approximately 1% vs. 2015 primarily from lower fuel surcharges. Productivity excluding fuel surcharges increased 1% over a year ago primarily from better integration of assets between customer accounts, fewer unseated trucks, increased customer supply chain fluidity and customer rate increases. A net additional 350 revenue producing trucks, 132 net additions compared to first quarter 2016, were in the fleet by the end of the quarter compared to prior year. Approximately 87% of these additions represent private fleet conversions versus traditional dedicated capacity fleets. Customer retention rates remain above 98%.

The operating income increase of 24% over the prior year quarter is primarily due to increased revenue, improved asset utilization, and a reduction in overall safety costs, partially offset by higher driver wage and recruiting costs, increased salaries and benefits costs as well as higher equipment ownership costs. Approximately $2.6 million of corporate wide streamlining and technology redevelopment costs was incurred in the second quarter 2015.

IntegratedCapacitySolutions(ICS)

■   SecondQuarter2016SegmentRevenue:     $204million;up 17%

■   SecondQuarter2016OperatingIncome:     $10.9million; up 122%

ICS revenue was up 17% compared to the second quarter 2015. Volumes increased 62% while revenue per load decreased 28%, primarily due to freight mix changes driven by customer demand and lower fuel prices compared to second quarter 2015. Contractual volumes represented approximately 73% of total load volume and 65% of total revenue compared to 70% and 62%, respectively, in second quarter 2015.

Operating income increased 122% over the same period 2015 primarily from increased volume and related revenue. Gross profit margins decreased to 15.0% in the current quarter versus 15.2% in the same period last year. The decrease in gross margin percentage is primarily the result of new customer rates implemented on contractual business and lower customer spot rates compared to the second quarter 2015. The increase in operating income was partly offset by higher personnel costs as the total branch count increased to 35 from 31 at second quarter 2015. Second quarter 2015 included $4.4 million of corporate wide streamlining and technology redevelopment costs. The carrier base increased 16% and the employee count increased 13% vs. second quarter 2015.

Truck(JBT)

■   SecondQuarter2016SegmentRevenue:     $98million; up 1%

■   SecondQuarter2016OperatingIncome:     $8.9 million;down 9%

JBT revenue for the current quarter was up 1% compared to the same period in 2015.   Revenue excluding fuel surcharges increased 6%, primarily from an 11% increase in average fleet count. Rate per loaded mile excluding fuel surcharges was down approximately 5% primarily from customer driven freight mix changes, including a 5.8% increase in length of haul. Core customer rate increases were up 0.9% compared to the same period in 2015. At the end of the period, JBT operated 2,186 tractors compared to 2,073 a year ago.

Operating income decreased 9% compared to the same quarter 2015. Benefits of the larger fleet were more than offset by lower rates per loaded mile, increased driver hiring costs, higher independent contractor cost and increased tractor maintenance costs compared to the second quarter 2015. Approximately $700,000 of streamlining and technology redevelopment costs were recorded in second quarter 2015.

CashFlowandCapitalization:

At June 30, 2016, we had a total of $958 million outstanding on various debt instruments compared to $890 million at June 30, 2015 and $998 million at December 31, 2015.

Our net capital expenditures for the six months ended June 30, 2016 approximated $258 million compared to $299 million for the same period 2015. At June 30, 2016, we had cash and cash equivalents of $11.3 million.

We had no purchases of our common stock during the second quarter 2016. At June 30, 2016 we had approximately $351 million remaining under our share repurchase authorization. Actual shares outstanding at June 30, 2016 approximated 112.7 million.

This press release may contain forward-looking statements, which are based on information currently available. Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, those discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2015. We assume no obligation to update any forward-looking statement to the extent we become aware that it will not be achieved for any reason. This press release and additional information will be available immediately to interested parties on our web site,www.jbhunt.com.

J.B. HUNT TRANSPORT SERVICES, INC. Condensed Consolidated Statements of Earnings (in thousands, except per share data) (unaudited)

	Three Months Ended June 30
	2016					2015
			% Of					% Of
	Amount		Revenue			Amount		Revenue
Operating revenues, excluding fuel surcharge revenues	$	1,483,354				$	1,360,631
Fuel surcharge revenues		131,672					179,326
Total operating revenues		1,615,026		100.0	%		1,539,957		100.0	%
Operating expenses
Rents and purchased transportation		794,907		49.2	%		730,851		47.5	%
Salaries, wages and employee benefits		371,969		23.0	%		348,277		22.6	%
Depreciation and amortization		90,364		5.6	%		83,661		5.4	%
Fuel and fuel taxes		71,489		4.4	%		84,891		5.5	%
Operating supplies and expenses		56,495		3.5	%		56,718		3.7	%
General and administrative expenses, net of asset dispositions		18,711		1.2	%		27,670		1.8	%
Insurance and claims		19,094		1.2	%		18,207		1.2	%
Operating taxes and licenses		11,365		0.7	%		10,734		0.7	%
Communication and utilities		4,840		0.3	%		5,213		0.3	%
Total operating expenses		1,439,234		89.1	%		1,366,222		88.7	%
Operating income		175,792		10.9	%		173,735		11.3	%
Net interest expense		6,420		0.4	%		6,661		0.5	%
Earnings before income taxes		169,372		10.5	%		167,074		10.8	%
Income taxes		64,361		4.0	%		63,655		4.1	%
Net earnings	$	105,011		6.5	%	$	103,419		6.7	%
Average diluted shares outstanding		113,761					117,811
Diluted earnings per share	$	0.92				$	0.88

J.B. HUNT TRANSPORT SERVICES, INC.

Condensed Consolidated Statements of Earnings

(in thousands, except per share data)

(unaudited)

	Six Months Ended June 30
	2016					2015
			% Of					% Of
	Amount		Revenue			Amount		Revenue
Operating revenues, excluding fuel surcharge revenues	$	2,910,008				$	2,624,541
Fuel surcharge revenues		233,730					355,596
Total operating revenues		3,143,738		100.0	%		2,980,137		100.0	%
Operating expenses
Rents and purchased transportation		1,535,310		48.8	%		1,424,535		47.8	%
Salaries, wages and employee benefits		734,480		23.4	%		678,786		22.8	%
Depreciation and amortization		178,716		5.7	%		165,038		5.5	%
Fuel and fuel taxes		130,903		4.2	%		166,704		5.6	%
Operating supplies and expenses		111,031		3.5	%		107,199		3.6	%
General and administrative expenses, net of asset dispositions		40,545		1.3	%		41,606		1.4	%
Insurance and claims		36,522		1.2	%		35,635		1.2	%
Operating taxes and licenses		22,491		0.7	%		20,822		0.7	%
Communication and utilities		10,058		0.3	%		10,857		0.4	%
Total operating expenses		2,800,056		89.1	%		2,651,182		89.0	%
Operating income		343,682		10.9	%		328,955		11.0	%
Net interest expense		12,862		0.4	%		13,364		0.4	%
Earnings before income taxes		330,820		10.5	%		315,591		10.6	%
Income taxes		125,711		4.0	%		120,240		4.0	%
Net earnings	$	205,109		6.5	%	$	195,351		6.6	%
Average diluted shares outstanding		113,882					117,805
Diluted earnings per share	$	1.80				$	1.66

Financial Information By Segment

(in thousands)

(unaudited)

	Three Months Ended June 30
	2016						2015
				% Of						% Of
	Amount			Total			Amount			Total
Revenue
Intermodal	$	933,430			58	%	$	904,868			59	%
Dedicated		382,721			24	%		366,716			24	%
Integrated Capacity Solutions		203,767			12	%		173,879			11	%
Truck		98,264			6	%		97,509			6	%
Subtotal		1,618,182			100	%		1,542,972			100	%
Intersegment eliminations		(3,156	)		(0	%)		(3,015	)		(0	%)
Consolidated revenue	$	1,615,026			100	%	$	1,539,957			100	%
Operating income
Intermodal	$	105,614			60	%	$	118,617			68	%
Dedicated		50,467			29	%		40,573			23	%
Integrated Capacity Solutions		10,875			6	%		4,893			3	%
Truck		8,853			5	%		9,675			6	%
Other (1)		(17	)		(0	%)		(23	)		(0	%)
Operating income	$	175,792			100	%	$	173,735			100	%

	Six Months Ended June 30
	2016						2015
				% Of						% Of
	Amount			Total			Amount			Total
Revenue
Intermodal	$	1,828,630			58	%	$	1,748,757			59	%
Dedicated		741,091			24	%		711,905			24	%
Integrated Capacity Solutions		386,934			12	%		337,090			11	%
Truck		194,315			6	%		188,697			6	%
Subtotal		3,150,970			100	%		2,986,449			100	%
Intersegment eliminations		(7,232	)		(0	%)		(6,312	)		(0	%)
Consolidated revenue	$	3,143,738			100	%	$	2,980,137			100	%
Operating income
Intermodal	$	208,740			61	%	$	222,879			68	%
Dedicated		95,237			28	%		76,388			23	%
Integrated Capacity Solutions		21,670			6	%		11,522			4	%
Truck		18,032			5	%		18,204			5	%
Other (1)		3			0	%		(38	)		(0	%)
Operating income	$	343,682			100	%	$	328,955			100	%

(1) Includes corporate support activity

Operating Statistics by Segment

(unaudited)

	Three Months Ended June 30
	2016			2015
Intermodal
Loads		476,098			436,466
Average length of haul		1,640			1,642
Revenue per load	$	1,961		$	2,073
Average tractors during the period *		5,232			4,915
Tractors (end of period)
Company-owned		4,519			4,186
Independent contractor		725			701
Total tractors		5,244			4,887
Net change in trailing equipment during the period		1,377			2,086
Trailing equipment (end of period)		81,243			76,279
Average effective trailing equipment usage		74,751			70,823
Dedicated
Loads		607,078			562,017
Average length of haul		174			176
Revenue per truck per week**	$	4,062		$	4,096
Average trucks during the period***		7,286			6,921
Trucks (end of period)
Company-owned		6,833			6,543
Independent contractor		17			7
Customer-owned (Dedicated operated)		472			422
Total trucks		7,322			6,972
Trailing equipment (end of period)		21,914			20,989
Average effective trailing equipment usage		22,597			22,275
Integrated Capacity Solutions
Loads		199,312			123,082
Revenue per load	$	1,022		$	1,413
Gross profit margin		15.0	%		15.2	%
Employee count (end of period)		721			636
Approximate number of third-party carriers (end of period)		48,900			42,300
Truck
Loads		96,929			93,225
Average length of haul		460			435
Loaded miles (000)		44,614			40,355
Total miles (000)		53,063			47,752
Average nonpaid empty miles per load		87.2			79.3
Revenue per tractor per week**	$	3,419		$	3,802
Average tractors during the period *		2,234			2,021
Tractors (end of period)
Company-owned		1,401			1,510
Independent contractor		785			563
Total tractors		2,186			2,073
Trailers (end of period)		7,249			7,479
Average effective trailing equipment usage		6,784			6,392

* Includes company-owned and independent contractor tractors

** Using weighted workdays

*** Includes company-owned, independent contractor, and customer-owned trucks

Operating Statistics by Segment

(unaudited)

	Six Months Ended June 30
	2016			2015
Intermodal
Loads		935,624			846,763
Average length of haul		1,641			1,643
Revenue per load	$	1,954		$	2,065
Average tractors during the period *		5,169			4,866
Tractors (end of period)
Company-owned		4,519			4,186
Independent contractor		725			701
Total tractors		5,244			4,887
Net change in trailing equipment during the period		2,286			2,981
Trailing equipment (end of period)		81,243			76,279
Average effective trailing equipment usage		73,998			69,758
Dedicated
Loads		1,186,556			1,092,779
Average length of haul		174			176
Revenue per truck per week**	$	3,969		$	4,032
Average trucks during the period***		7,241			6,887
Trucks (end of period)
Company-owned		6,833			6,543
Independent contractor		17			7
Customer-owned (Dedicated operated)		472			422
Total trucks		7,322			6,972
Trailing equipment (end of period)		21,914			20,989
Average effective trailing equipment usage		22,517			22,276
Integrated Capacity Solutions
Loads		374,935			244,044
Revenue per load	$	1,032		$	1,381
Gross profit margin		16.1	%		14.5	%
Employee count (end of period)		721			636
Approximate number of third-party carriers (end of period)		48,900			42,300
Truck
Loads		191,339			179,468
Average length of haul		464			443
Loaded miles (000)		88,697			78,991
Total miles (000)		105,209			93,206
Average nonpaid empty miles per load		86.3			79.1
Revenue per tractor per week**	$	3,415		$	3,754
Average tractors during the period*		2,222			1,982
Tractors (end of period)
Company-owned		1,401			1,510
Independent contractor		785			563
Total tractors		2,186			2,073
Trailers (end of period)		7,249			7,479
Average effective trailing equipment usage		6,727			6,208

* Includes company-owned and independent contractor tractors

** Using weighted workdays

*** Includes company-owned, independent contractor, and customer-owned trucks

J.B. HUNT TRANSPORT SERVICES, INC.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

	June 30, 2016		December 31, 2015
ASSETS
Current assets:
Cash and cash equivalents	$	11,277	$	5,566
Accounts Receivable		744,026		654,542
Prepaid expenses and other		71,705		197,817
Total current assets		827,008		857,925
Property and equipment		4,128,542		4,019,451
Less accumulated depreciation		1,361,627		1,318,122
Net property and equipment		2,766,915		2,701,329
Other assets		103,441		70,290
	$	3,697,364	$	3,629,544
LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities:
Trade accounts payable	$	343,652	$	340,332
Claims accruals		115,628		104,220
Accrued payroll		66,237		59,420
Other accrued expenses		27,199		28,445
Total current liabilities		552,716		532,417
Long-term debt		957,574		998,003
Other long-term liabilities		65,075		58,552
Deferred income taxes		742,574		740,220
Stockholders' equity		1,379,425		1,300,352
	$	3,697,364	$	3,629,544

Supplemental Data

(unaudited)

	June 30, 2016		December 31, 2015
Actual shares outstanding at end of period (000)		112,680		113,948
Book value per actual share outstanding at end of period	$	12.24	$	11.41

	Six Months Ended June 30
	2016		2015
Net cash provided by operating activities (000)	$	474,138	$	453,537
Net capital expenditures (000)	$	257,958	$	299,246