Ken Hoexter
BofA Securities, Research Division

Great. Next up, we've got J.B. Hunt. We welcome Brad Hicks, EVP and President of Dedicated Contract Services; Josh Phelan, SVP of Truckload Operations; and Andrew Hall from Investor Relations. We welcome Brad for his fourth time to our conference. Andrew and Josh to their first BofA event, but this is J.B. Hunt's 18th time attending the conference in the 25 years I've hosted. So glad to have you here with us. Thank you very much for your continued support.

Ken Hoexter
BofA Securities, Research Division

And Brad and Josh, I guess let me just open it to you for your initial thoughts on the state of the market? And maybe what 3 key things you want us to take away from here today?

Bradley Hicks
President of Dedicated Contract Services & Executive VP

Ken, thanks again for having us. It's always a pleasure to be here. When we think about the market, clearly, we've seen changes. We saw strength I guess you could call it starting in Q4 that has persisted through. We're seeing a pretty meaningful adjustment from a spot capacity rate standpoint, that's finding its way into contract now, which is typical. We're seeing difficulty in -- more difficulty in the driver market today. We think that 1 of the 3 that I'll just highlight right now is just the category of regulatory. That's definitely influencing because quite frankly, we're not really seeing any demand lift.