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JB Hunt reports an 18% YoY drop in Q2 revenues due to a persistently weak freight market. The company seeks cost-effective strategies.
JB Hunt Transport Services announced an 18% YoY fall in Q2 revenues, attributing it to the weak freight market. This drop in revenues, to $3.13 billion, was coupled with YoY volume declines across all segments. Despite these challenges, the company plans to withstand the freight slowdown, offering competitive pricing and helping customers reduce costs through route redesigns and fleet optimization. Q2 also saw a YoY increase of 12% and 21% in operating income for its final mile services and dedicated contract services segments respectively.
JB Hunt remains dedicated to investing in technology to enhance productivity and provide customer value, despite the uncertain market environment.
Source: Transport Topics
J.B. Hunt Transport with another double miss.
— The Transcript (@TheTranscript_) July 18, 2023
"Demand for intermodal capacity continued to be impacted by weaker overall freight activity, particularly import-related freight"$JBHT: -0.6% AH https://t.co/LdrO9pKybE pic.twitter.com/HSGz5lh9Ru
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