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J.B. Hunt Transport Services, Inc. Announces Arbitration Update

LOWELL, Ark.--(BUSINESS WIRE)--

J.B. Hunt Transport Services, Inc., (JBHT) (“JBHT”) announced today receipt of the arbitrators’ Clarified Interim Award of October 5, 2018, issued on December 7, 2018 in J.B. Hunt Transport, Inc.’s arbitration with BNSF Railway Company (“BNSF”). Subsequent to the initial Interim Award of October 5, 2018, both parties made additional submissions to the arbitration panel (panel) that resulted in the Clarified Interim Award regarding certain issues related to determining the revenue division between the parties. The parties have been instructed to make further submissions on the revenue divisions as well as other confidential issues raised during the arbitration process so that the panel can issue an appropriate interim and/or final award regarding all issues raised during the proceeding. JBHT will record pretax charges for contingent liabilities in the fourth quarter 2018 of $89.4 million claimed by the BNSF for the period May 1, 2016 through December 31, 2017 and $44.6 million for the period January 1, 2018 through December 31, 2018, for a total of $134 million or $0.93 per diluted share.

This press release contains forward-looking statements regarding anticipated charges to our fourth quarter 2018 earnings, 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, future developments in the arbitration between our subsidiary and BNSF and other factors discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2017. 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 will be available immediately to interested parties on our website, www.jbhunt.com.

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