Business Strategy and Outlook
| Matthew Young, CFA |At its core, J.B. Hunt is an intermodal marketing company; it contracts with the Class I railroads for the line-haul movement of its domestic containers. It was one of the first for-hire truckload carriers to venture into intermodal shipping, forming a partnership with BNSF Railway in the West in 1990. Years later, it struck an agreement with Norfolk Southern in the East. Hunt has established a clear leadership position in intermodal shipping, with a 20%-plus share of a $25 billion-plus industry. The next-largest competitor is Hub Group, followed by Schneider National's intermodal division and XPO Logistics' intermodal unit. Intermodal made up slightly less than half of Hunt's total revenue in 2021.