J.B. Hunt says $1.5 billion Capex plan imperiled by shortages

J.B. Hunt Transport Services Inc., the largest U.S. long-haul trucker, has money to spend, but can’t find enough big rigs and trailers to buy because suppliers are struggling to keep up with demand.

The company came up about $130 million shy of its $1 billion capital spending plan in 2021 because of shortages. This year, the trucker plans to spend $1.5 billion and might not make that goal either, Chief Operating Officer Nick Hobbs said on a conference call on Tuesday with analysts.

“Both the truck and trailer market, as well as the driver market, remain extremely tight and does give me some concern for our ability to execute on our growth plans,” Hobbs said.