J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) reported its Q1 results, with EPS and revenues coming in at $2.29 and $3.49 billion, above Street estimates of $1.94 and $3.28 billion, respectively.

Analysts at Deutsche Bank characterize the company’s Q1 results as good, but with more progress to come in subsequent quarters. The analysts suspect January was a particularly difficult month for the company, which likely impacted the full quarterly results.

The analysts continue to believe the company’s new joint initiative with BNSF has the potential to unlock significant volume growth potential at the company.