J.B. Hunt Transport Services, Inc.

Good afternoon and welcome to the J.B. Hunt Transport first quarter 2026 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your telephone keypad. To withdraw your question, please press star and then two. Please note this event is being recorded. I would now like to turn the conference over to Andrew Hall, Senior Director of Finance. Please go ahead, sir.

Good afternoon. Before I introduce the speakers, I would like 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 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 would like to introduce the speakers on today's call. This afternoon, I am joined by our President and CEO, Shelley Simpson, our CFO, Brad Delco, Spencer Fraser, EVP of Sales and Marketing, our COO and President of Highway Services and Final Mile, Nick Hobbs, Brad Hicks, President of Dedicated Contract Services, and Darren Field, President of Intermoto. I'd now like to turn the call over to our CEO, Ms. Shelley Simpson, for some opening comments. Shelley?

Thank you, Andrew, and good afternoon. I want to begin by thanking our teams for the work they continue to do every day for our customers. The year-over-year improvement we delivered both financially and operationally is a direct result of the focus, discipline, and commitment across this organization. We delivered strong results relative to the market in a still challenging environment, reflecting disciplined execution against the strategy we laid out. We are taking share driven by the strength of our execution and consistent service for our customers. As we moved through the first quarter, the freight environment felt meaningfully different than what we've operated in over the past several years. When we spoke last quarter, I described the truckload market as fragile and that we are testing the elasticity of supply, and that assessment proved accurate. Continued regulatory enforcement to improve safety in our industry has removed noncompliant capacity, and when combined with early signs of improved demand, resulted in a tighter truckload market throughout the quarter. While predicting inflection points is never precise, we believe we are on a path of recovery. We feel confident about how we are positioned. The operational discipline we've established over the past several years is showing up in year-over-year financial improvements and enhanced customer responses, enabling us to shift from a defensive posture to playing offense from a position of strength. This confidence is grounded in results. We have delivered exceptional performance in safety and service, surpassed expectations on lowering our cost to serve, and maintained very high customer retention. Our strong execution has earned the company multiple Carry of the Year awards as customers increasingly choose J.B. Hunt. This opens doors to growth opportunities, and we are approaching them with intentionality and discipline. Let me close by outlining our key priorities for the year and how they position us for success in this dynamic environment. First, we are focused on discipline growth driven by operational excellence. Customer conversations during this season have become more constructive, though there is still work to do to fully restore pricing and margins to expected levels. We are pushing where appropriate and remain confident in the value we deliver. We are seeing increased traction in ICS and JBT, consistent with early cycle market shifts, and there remains opportunity in intermodal, which Darren will discuss. Second, we will continue to leverage our investments in people, technology, and capacity to drive sustainable, competitive advantages in our business. We consistently invest in our people, who represent J.B. Hunt to our customers and are central to our operational excellence. Our technology connects and empowers our people and helps us optimally utilize our capacity. And we are building on our innovative foundation to drive greater automation and productivity. We have pre-funded our capacity needs, particularly in intermodal at the bottom of the cycle. These remain the core foundations in our business and expect to see future benefit from these investments. Third, We remain focused on repairing margins and driving long-term shareholder value. We are a disciplined growth company and equally disciplined in how we deploy capital. We have momentum in the business and will continue to build on our strong start to the year. With that, I'd like to turn the call over to Brad.