Plus, Flexport announces more layoffs, Hurricane Helene continues to disrupt key lanes, and experts predict truckload carrier rate increase for 2025.
Ari Levy reflects on Coyote Logistics 18-year run as RXO completes the acquisition.
Plus, Carrier411 bans the removal of FreightGuards.
On the bright side, they’ve snagged Walmart's intermodal assets and sold about 690 new trucks.
J.B. Hunt’s Q1 2024 has been a bit rocky. They’ve posted earnings that fell short across the board: a 9% dip in revenue to $2.94 billion and earnings per share down at $1.22, missing estimates left and right. Their operating income also took a nosedive by 30%, and things don’t look too sunny with a 35% drop in diluted EPS.
On the bright side, they’re keeping busy with some smart moves. They’ve snagged Walmart's intermodal assets and sold about 690 new trucks. Despite the overall market's downturn, Hunt’s Dedicated segment shows a glimmer of resilience with a strong sales pipeline.
But the road ahead is cluttered with challenges: cost pressures are mounting, and the intermodal volumes haven’t budged, staying flat year-over-year. Analysts warn of a rough patch as we move forward, suggesting this quarter might just be the tip of the iceberg.
Source: Yahoo Finance
New data reveals freight brokerages averaging $1,267,516 gross revenue per employee. Brush Pass Research offers detailed intel for prospecting.
Major freight companies face revenue dips and profit plunges in Q2 2024. Schneider, TFI, ArcBest, and Hub Group report challenging market conditions.
Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
Triumph Financial's Q2 report brings optimism. CEO Aaron Graft reveals crucial trends in trucking and logistics. Is a market turnaround on the horizon?
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