J.B. Hunt Transport Services, Inc.

Good day, and thank you for standing by, and welcome to the third quarter 2021 earnings conference 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. To ask a question during the session, you'll need to press star 1 on your telephone. Please be aware during the Q&A, you will be limited to one question. Please be advised that today's conference is being recorded. And if you should require any further assistance, please press star zero. I would now like to hand the conference over to your speaker for today, Mr. Brad Delco. Thank you, sir. Please go ahead.

Good morning. Before I introduce the speakers, I would 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 risks 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 the 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'd like to introduce you to the speakers on today's call. This morning I am joined by our CEO, John Roberts, our CFO, John Kulow, Shelley Simpson, Chief Commercial Officer and EVP of People and Human Resources, Nick Hobbs, Chief Operating Officer and President of Contract Services, Brad Hicks, President of Highway 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?

Thanks, Brad. Good morning and thank you for joining us today. The third quarter continued to present the momentum we spoke of during our last earnings call. We also see persistent irregularities in demand patterns substantially resulting from port, labor, and inventory challenges with our customers. The congestion at key inbound port locations has further challenged the desired smoothing of supply chains in preparation for the upcoming holiday season. We find that the dialogue with our key customers reveals both a challenged labor market and a pent-up need to increase the in-stock levels across the system. Planned additions to our container and trailing fleets and the expansion and contract services, both final mile and dedicated, should all contribute positively as these headwinds abate. The company is not insulated from the labor dynamics mentioned above for our customers. This year we have reached all-time highs in the need for company drivers in all segments as well as openings we have on our office and field teams. We have done comprehensive and exhaustive research on our current compensation and benefits programs along with our incentives plans to help better position our jobs going forward. Progress in closing the gaps for both driver and non-driver positions has been made during the quarter, and we are optimistic these gaps will continue to shrink for us. As our executives will discuss today, we're generally pleased with the performance of all segments. However, we do have ample room for improvement with the inventory flows and contractor model in our final mile business, as well as in the utilization of equipment and intermodal. Even with these opportunities, we see our supply chain-focused services well-positioned and healthy for the long-term needs of our customers. We are also encouraged by the continued progress we see in the utilization of of our 360 platforms and the productivity gains resulting from expanded usage across the company with our carriers and with our shippers. The past two weeks have returned us to the annual tradition of honoring our multi-million mile drivers who over many years accomplished the pinnacle of our profession. In Lowell, we have hosted two sessions for a total of over 100 drivers reaching between two and five million safe miles along with their families, for a two-day celebration with our entire corporate team. We have been extremely careful to host these sessions following CDC guidelines. Nevertheless, it has done all of us a world of good to see our very best in person again. The energy has been contagious, and I am sure that it will carry us forward nicely. Please check out our website to see how we recognize these incredible men and women. I will now turn the call over to John Kulo for his comments. John?