J.B. Hunt Transport Services (JBHT) 8-K J.B. Hunt Transport Services, Inc. Reports Revenues and Earnings

Exhibit 99.1

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

FOR IMMEDIATE RELEASE

J.B. HUNT TRANSPORT SERVICES, INC. REPORTS REVENUES AND EARNINGS

FOR THE FIRST QUARTER 2017

■     First Quarter2017Revenue:	$1.63 billion; up 7%
■     First Quarter2017 Operating Income:	$149 million; down 11%
■     First Quarter2017 EPS:	92 cents vs. 88 cents

LOWELL, ARKANSAS, April 17, 2017 - J.B. Hunt Transport Services, Inc., (NASDAQ:JBHT) announced first quarter 2017 net earnings of $102.7 million, or diluted earnings per share of 92 cents vs. first quarter 2016 net earnings of $100.1 million, or 88 cents per diluted share.

Total operating revenue for the current quarter was $1.63 billion, compared with $1.53 billion for the first quarter 2016. Current quarter total operating revenue, excluding fuel surcharges, increased 2% vs. first quarter 2016. Intermodal (JBI) load growth was 2% over first quarter 2016 levels. Dedicated Contract Services (DCS) segment revenue increased by 10% over prior year primarily from additional customer contracts from a year ago and customer rate increases. Integrated Capacity Solutions (ICS) load growth was 36% over the same period in 2016. Truck (JBT) segment revenue decreased 2% primarily from a lower revenue per load.

Operating income for the current quarter totaled $149 million vs. $168 million for the first quarter 2016. Benefits from volume growth and new customer contracts were more than offset by lower customer rates from competitive pricing, increased purchased transportation costs, higher driver wages, continuing branch network expansion, increased equipment ownership costs and increased insurance and claims costs.

Net interest expense for the current quarter increased 6% from the same period in 2016 due to higher effective interest rates on our debt.

The effective income tax rate decreased to 28.0% in the current quarter compared to 38.0% in the first quarter 2016 due to a one-time after tax benefit of $13.6 million or 12 cents per diluted share from the claiming of research and development tax credits and domestic production tax deductions incurred during the 2012 through 2016 tax years. The annual tax rate for 2017 is expected to be 35% and the normalized annual tax rate, excluding one-time benefits or costs, is expected to be 37%.

Segment Information:

Intermodal (JBI)

■     First Quarter2017Segment Revenue:     $937million; up 5%

■     First Quarter2017 Operating Income:     $95million;down 8%            

JBI load volumes grew 2% over the same period 2016. Transcontinental loads grew 7% while the Eastern network load volume was down 6% compared to prior year. Competitive truckload pricing in the shorter length of haul Eastern network from the 2016 bid season has carried over into 2017 and continues to pressure intermodal rates and conversion. Revenue grew approximately 5% reflecting the 2% volume growth and a 3% increase in revenue per load, which is determined by the combination of customer rates, fuel surcharges and freight mix. Revenue per load excluding fuel surcharge revenue decreased 1% year over year due to a continuing competitive pricing environment from truckload operators, intermodal operators and Lead Logistics Providers (4PLs).

Operating income decreased 8% from prior year. Benefits from volume growth were more than offset by lower revenue per load excluding fuel surcharges, increases in rail purchased transportation costs, reduced Eastern network utilization and lower dray efficiency created from a reduction in Eastern network volumes, higher equipment ownership costs, increased driver wages and recruiting costs and increased insurance and claims costs. The current period ended with approximately 85,200 units of trailing capacity and 5,170 power units assigned to the dray fleet.

Dedicated Contract Services (DCS)

■     First Quarter 2017 Segment Revenue:     $392 million; up10%

■     First Quarter 2017Operating Income:     $45million;flat

DCS revenue increased 10% during the current quarter over the same period 2016. Productivity (revenue per truck per week) increased approximately 6% vs. 2016. Productivity excluding fuel surcharges was up approximately 1% from improved integration of assets between customer accounts and customer rate increases partially offset by a more impactful winter weather season compared to 2016. A net additional 392 revenue producing trucks, 181 net additions compared to fourth quarter 2016, were in the fleet by the end of the quarter compared to prior year. Approximately 83% of these additions represent private fleet conversions versus traditional dedicated capacity fleets that were implemented in the current and prior periods. Customer retention rates remain above 98%.

Operating income was flat from a year ago. The increased revenue and improved asset integration was offset by higher driver wages, increased insurance and claims cost primarily from weather related accidents, higher health insurance costs and increased start up expenditures for new customer contracts compared to the same period a year ago.

Integrated Capacity Solutions (ICS)

●     First Quarter2017 Segment Revenue:     $209 million; up 14%

●     First Quarter2017 Operating Income:     $4.5million; down 59%

ICS revenue increased 14% vs. first quarter 2016. Volumes increased 36% while revenue per load decreased 16% primarily due to freight mix changes driven by customer demand. Spot volumes increased 22%, primarily in the fledgling flatbed and temperature controlled services, and contractual business load counts increased 42% from a year ago. Contractual business represents approximately 76% of total load volume and 63% of total revenue in the current period compared to 73% and 64%, respectively, in first quarter 2016.

Operating income decreased 59% over the same period in 2016 primarily from a lower gross profit margin, increased claims costs and an increased number of branches less than 2 years old (Start-up branches). Start-up branches typically produce less revenue and lower gross margins than Mature branches (more than two years old) and therefore have a higher proportion of personnel costs to both total and net revenue. ICS had 18 Start-up branches in 11 locations in first quarter 2017 compared to 9 in first quarter 2016. Gross profit margin decreased to 14.3% in the current quarter vs. 17.3% last year primarily due to increased third party transportation costs and lower spot rates. Total branch count grew to 42 locations compared to 35 at the end of the comparable period last year. ICS’s carrier base increased over 10% and employee count increased 27% compared to first quarter 2016.

Truck (JBT)

■     First Quarter 2017 Segment Revenue:     $94 million; down 2%

■     First Quarter2017 Operating Income:     $4.9 million; down 46%

JBT revenue decreased 2% from the same quarter 2016. Revenue excluding fuel surcharge decreased 6% primarily from a 7% decrease in revenue per load partially offset by a 1% increase in load count. The decrease in revenue per load compared to the prior year is due to a 6% decrease in length of haul and a 1% decrease in rates per loaded mile. Customer contract rates were down 1.5% compared to the same period in 2016. At the end of the current quarter JBT operated 2,144 tractors compared to 2,270 in 2016.

Operating income for the current quarter decreased by 46% compared to first quarter 2016. Benefits from the increased load count and fewer empty miles were more than offset by lower customer rates per mile, increased equipment maintenance cost and higher insurance and claims cost compared to first quarter 2016.

Cash Flow and Capitalization:

At March 31, 2017, we had a total of $951 million outstanding on various debt instruments compared to $961 million at March 31, 2016, and $986 million at December 31, 2016. At March 31, 2017, we had cash and cash equivalents of $12 million.

Our net capital expenditures for the first quarter 2017 approximated $91 million compared to $114 million for the first quarter 2016.

We purchased approximately 1.33 million shares of our common stock during the quarter for approximately $130 million. At March 31, 2017, we had approximately $71 million remaining under our share repurchase authorization. Actual shares outstanding at March 31, 2017 approximated 110 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, 2016. 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 March 31
	2017					2016
			% Of					% Of
	Amount		Revenue			Amount		Revenue
Operating revenues, excluding fuel surcharge revenues	$	1,461,768				$	1,426,654
Fuel surcharge revenues		167,390					102,058
Total operating revenues		1,629,158		100.0	%		1,528,712		100.0	%
Operating expenses
Rents and purchased transportation		806,439		49.5	%		740,402		48.4	%
Salaries, wages and employee benefits		380,311		23.3	%		362,511		23.7	%
Depreciation and amortization		92,189		5.7	%		88,352		5.8	%
Fuel and fuel taxes		80,646		5.0	%		59,414		3.9	%
Operating supplies and expenses		58,022		3.6	%		54,537		3.6	%
General and administrative expenses, net of asset dispositions		23,481		1.3	%		21,833		1.5	%
Insurance and claims		23,005		1.4	%		17,428		1.1	%
Operating taxes and licenses		10,680		0.7	%		11,126		0.7	%
Communication and utilities		4,996		0.3	%		5,219		0.3	%
Total operating expenses		1,479,769		90.8	%		1,360,822		89.0	%
Operating income		149,389		9.2	%		167,890		11.0	%
Net interest expense		6,817		0.4	%		6,442		0.4	%
Earnings before income taxes		142,572		8.8	%		161,448		10.6	%
Income taxes		39,870		2.5	%		61,350		4.1	%
Net earnings	$	102,702		6.3	%	$	100,098		6.5	%
Average diluted shares outstanding		112,026					114,003
Diluted earnings per share	$	0.92				$	0.88

Financial Information By Segment

(in thousands)

(unaudited)

	Three Months Ended March 31
	2017						2016
				% Of						% Of
	Amount			Total			Amount			Total
Revenue
Intermodal	$	937,118			57	%	$	895,200			59	%
Dedicated		392,461			24	%		358,370			23	%
Integrated Capacity Solutions		209,419			13	%		183,168			12	%
Truck		93,688			6	%		96,051			6	%
Subtotal		1,632,686			100	%		1,532,789			100	%
Intersegment eliminations		(3,528	)		(0	%)		(4,077	)		(0	%)
Consolidated revenue	$	1,629,158			100	%	$	1,528,712			100	%
Operating income
Intermodal	$	95,261			64	%	$	103,127			61	%
Dedicated		44,754			30	%		44,770			27	%
Integrated Capacity Solutions		4,469			3	%		10,795			6	%
Truck		4,941			3	%		9,179			6	%
Other (1)		(36	)		(0	%)		19			0	%
Operating income	$	149,389			100	%	$	167,890			100	%

      (1) Includes corporate support activity

Operating Statistics by Segment

(unaudited)

		Three Months Ended March 31
		2017			2016
Intermodal
Loads			466,840			459,526
Average length of haul			1,680			1,641
Revenue per load		$	2,007		$	1,948
Average tractors during the period *			5,222			5,107
Tractors (end of period)
Company-owned			4,506			4,404
Independent contractor			664			755
Total tractors			5,170			5,159
Net change in trailing equipment during the period			624			909
Trailing equipment (end of period)			85,218			79,866
Average effective trailing equipment usage			77,370			73,244
Dedicated
Loads			596,740			579,478
Average length of haul			180			175
Revenue per truck per week**		$	4,113		$	3,875
Average trucks during the period***			7,438			7,196
Trucks (end of period)
Company-owned			7,041			6,734
Independent contractor			12			14
Customer-owned (Dedicated operated)			529			442
Total trucks			7,582			7,190
Trailing equipment (end of period)			22,963			21,818
Average effective trailing equipment usage			23,564			22,436
Integrated Capacity Solutions
Loads			238,058			175,623
Revenue per load		$	880		$	1,043
Gross profit margin			14.3	%		17.3	%
Employee count (end of period)			853			674
Approximate number of third-party carriers (end of period)			52,100			47,500
Truck
Loads			95,636			94,410
Average length of haul			438			468
Loaded miles (000)			41,886			44,083
Total miles (000)			50,018			52,146
Average nonpaid empty miles per load			85.0			85.4
Revenue per tractor per week**		$	3,411		$	3,411
Average tractors during the period *			2,151			2,211
Tractors (end of period)
Company-owned			1,379			1,467
Independent contractor			765			803
Total tractors			2,144			2,270
Trailers (end of period)	��		7,514			6,970
Average effective trailing equipment usage			7,163			6,670

* 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)

	March 31, 2017		December 31, 2016
ASSETS
Current assets:
Cash and cash equivalents	$	12,261	$	6,377
Accounts Receivable		707,433		745,288
Prepaid expenses and other		173,647		194,016
Total current assets		893,341		945,681
Property and equipment		4,331,100		4,258,915
Less accumulated depreciation		1,500,472		1,440,124
Net property and equipment		2,830,628		2,818,791
Other assets		46,426		64,516
	$	3,770,395	$	3,828,988
LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities:
Trade accounts payable	$	369,763	$	384,308
Claims accruals		106,835		109,745
Accrued payroll		57,083		51,929
Other accrued expenses		52,844		27,152
Total current liabilities		586,525		573,134
Long-term debt		950,558		986,278
Other long-term liabilities		68,457		64,881
Deferred income taxes		792,561		790,634
Stockholders' equity		1,372,294		1,414,061
	$	3,770,395	$	3,828,988

Supplemental Data

(unaudited)

	March 31, 2017		December 31, 2016
Actual shares outstanding at end of period (000)		109,983		111,305
Book value per actual share outstanding at end of period	$	12.48	$	12.70

	Three Months Ended March 31
	2017		2016
Net cash provided by operating activities (000)	$	285,633	$	304,896
Net capital expenditures (000)	$	91,007	$	114,458