J.B. Hunt Transport Services

J.B. Hunt’s long-term intermodal growth plan weighs on Q1 result

J.B. Hunt Transport Services said it would stay the course, increasing intermodal capacity ahead of demand to avoid the service failures the industry experienced during the pandemic. That means carrying a higher cost burden and potentially posting earnings misses like it did in the 2024 first quarter.

The multimodal provider reported first-quarter earnings per share of $1.22 Tuesday after the market closed, 31 cents light of the consensus estimate and 67 cents lower year over year (y/y). A...

https://www.freightwaves.com/news/j-b-hunts-long-term-intermodal-growth-plan-weighs-on-q1-result

J.B. Hunt posts big Q1 earnings miss

J.B. Hunt Transport Services missed first-quarter expectations Tuesday, reporting earnings per share of $1.22 compared to the consensus estimate of $1.53. A higher tax rate was a 7-cent headwind in the quarter.

Intermodal revenue fell 9% year over year (y/y) as revenue per load was off by a similar amount (down 5% from the fourth quarter). Total loads were flat y/y but 9% lower than in the fourth quarter. A 92.7% operating ratio (operating expenses as a percentage of revenue) was 370 basis...

https://www.freightwaves.com/news/j-b-hunt-posts-q1-earnings-miss

Truckload carriers’ forecasts cut heading into Q1 prints

Analysts are cutting earnings estimates for truckload companies heading into first-quarter reports. Acknowledging decent demand, analysts cited an overhang of truck capacity, which is constraining pricing and margins, as the reason for the latest round of revisions.

“We exit 1Q much like we entered it for truckload-related transports — feeling okay about volumes but bad about pricing and expecting downward EPS revisions for businesses that live on this annual pricing cycle,” Susquehanna...

https://www.freightwaves.com/news/truckload-carriers-forecasts-cut-heading-into-q1-prints

J.B. Hunt acquiring Walmart’s intermodal fleet part of long-term agreement

J.B. Hunt Transport Services announced Thursday it has entered a long-term intermodal deal with Walmart that includes volume and capacity commitments. As part of the deal, J.B. Hunt will acquire Walmart’s intermodal assets.

The multiyear deal expands an existing relationship between the two Northwest Arkansas companies, with J.B. Hunt (NASDAQ: JBHT) buying Walmart’s (NYSE: WMT) intermodal containers and chassis. Neither the size of the fleets nor the purchase price was disclosed.

“Today’s...

https://www.freightwaves.com/news/j-b-hunt-acquiring-walmarts-intermodal-fleet-part-of-long-term-agreement

Bid season off to bumpy start, trucking heads say

A bout of harsh winter weather temporarily pushed truckload metrics higher in January, but fundamentals have receded back to trough levels, carriers said at a pair of investor conferences this week.

J.B. Hunt Transport Services (NASDAQ: JBHT) said its intermodal volumes have not been as strong as the increases reported at the ports of Los Angeles and Long Beach in January, where volumes were 20% higher year over year (y/y), or at its primary rail partner BNSF (NYSE: BRK-B), which witnessed a...

https://www.freightwaves.com/news/bid-season-off-to-bumpy-start-trucking-heads-say

3 trucking majors combine to advance electric infrastructure

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Three of the nation’s largest medium- and heavy-duty truck makers snagged the apropos acronym PACT...

https://www.freightwaves.com/news/3-trucking-majors-combine-to-advance-electric-infrastructure

Former Kansas City Southern chief joins J.B. Hunt’s board

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Multimodal transportation provider J.B. Hunt Transport Services announced Tuesday that former Kansas...

https://www.freightwaves.com/news/former-kansas-city-southern-chief-joins-j-b-hunts-board

Trucking heads kick can further into 2024

Truckload carriers and 3PLs have seen little change in demand halfway through the fourth quarter, and some are pointing deeper into 2024 before the market corrects.

The comments came from heads of some of the largest publicly traded TL providers at Stephens 25th Annual Investment Conference in Nashville, Tennessee, on Tuesday. The sentiment aligns with a Tuesday report from freight payments platform Cass Information Systems (NASDAQ: CASS), which said October produced a cycle low for shipments.

Fre...

https://www.freightwaves.com/news/trucking-heads-kick-can-further-into-2024

J.B. Hunt, BNSF launch premium intermodal service Quantum

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J.B. Hunt Transport Services and BNSF Railway announced Tuesday the launch of Quantum, a premium...

https://www.freightwaves.com/news/j-b-hunt-bnsf-launch-premium-intermodal-service-quantum

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