J.B. Hunt to offer stock for sale

Truckload giant J.B. Hunt Transport Services is offering over 5-million shares of common stock for sale after posting rosy returns in the first quarter. The Lowell, AR-based carrier said it is issuing and selling 2-million shares itself, with 3.1-million shares to be offered by a variety of investment firms. J.B. Hunt said it plans to use the proceeds of this stock offering to reduce debt and fund

Sean Kilcarr

May 13, 2002

Truckload giant J.B. Hunt Transport Services is offering over 5-million shares of common stock for sale after posting rosy returns in the first quarter.

The Lowell, AR-based carrier said it is issuing and selling 2-million shares itself, with 3.1-million shares to be offered by a variety of investment firms. J.B. Hunt said it plans to use the proceeds of this stock offering to reduce debt and fund capital expenditures.

In the first quarter of this year, J.B. Hunt's net earnings topped $4.9 million on revenues of $510 million, compared to earnings of $1.6 million on revenue of $495 million in the first quarter of 2001.

About the Author

Sean Kilcarr

Editor in Chief

Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.