SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.   20549

 

 

 

FORM 8-K

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): October 5, 2018

 

 

 

 

J.B. HUNT TRANSPORT SERVICES, INC.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

 

 

Arkansas	0-11757	71-0335111
(State or other Jurisdiction of Incorporation or Organization	Commission File Number	(IRS Employer Identification No.)
615 J.B. Hunt Corporate Drive Lowell, Arkansas	72745	(479) 820-0000
(Address of Principal Executive Offices)	(Zip Code)	(Registrant’s telephone number)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

  

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

The information in Items 2.02 and 9.01 of this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in Items 2.02 and 9.01 of this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

 

 

ITEM 2.02.      RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

 

On October 10, 2018, we issued a news release announcing we will record a $39.0 million charge for certain items to our third quarter net earnings. A copy of the news release is attached as Exhibit 99.1 and is incorporated herein by reference.

 

 

ITEM 8.01.      OTHER EVENTS.

 

On October 5, 2018, we received the arbitrators’ Interim Award in the arbitration between our subsidiary, J.B. Hunt Transport Inc., and BNSF Railway Company (“BNSF”). The details of the Interim Award are confidential; however, we are pleased with several determined components of the Interim Award. The parties are required to submit additional information requested by the arbitrators over the next several months to decide the remaining unresolved matters. However, we will incur an $18.3 million pre-tax charge in the third quarter 2018, related to certain charges claimed by BNSF for specific services requested for customers from April 2014 through May 2018. While the parties disagree on the other financial implications from the Interim Award, we believe such implications will not be fully determined until the arbitrators issue additional Award(s) following their review of each party’s requested additional submissions.

 

 

ITEM 9.01.     FINANCIAL STATEMENTS AND EXHIBITS

 

(d)

Exhibits.

 

99.1	News release dated October 10, 2018, issued by J.B. Hunt Transport Services, Inc.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on the 12th day of October 2018.

 

 

	J.B. HUNT TRANSPORT SERVICES, INC.
	BY:	/s/ John N. Roberts, III
		John N. Roberts, III President and Chief Executive Officer (Principal Executive Officer)
	BY:	/s/ David G. Mee
		David G. Mee Executive Vice President, Finance and Administration and Chief Financial Officer (Principal Financial Officer)