DOT Blitz Week starts tomorrow, and brokers are bracing for one of the toughest weeks in years. Plus: $10.1M in stolen freight leads to five years in prison, Forward Air loses 40% of its value, diesel prices hit produce costs, and more.
Aurora's driverless trucks are moving real loads between Dallas and Houston right now, and nobody is in the cab. Plus: RXO signals a strong freight rebound, Ken Adamo joins Ease Logistics, rail got faster to Mexico, and more.
Aurora signed two major partnerships in one week. Spot rates just hit an all-time high. A Chicago cross-dock blew up Reddit over how shippers load trailers. And someone dug into Super Ego's carrier network — the safety scores are not okay.
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
Plus, STG's path out of bankruptcy, Wyoming's "Truck Around and Find Out" operation, what "phantom capacity" means for Mexico lanes, and more in today's newsletter.
Plus, a cabless autonomous truck just raised $24M, non-domiciled CDLs rules need clarifying, CSX posts a 26% profit jump while watching the UP-NS merger closely, and more in today's newsletter.
Plus, the offshore dispatchers your safety score can't catch, why Hormuz stays closed even after the war ends, what Triumph Financial's invoice volumes say about where freight is headed, and more.
Plus, USPS gives non-domiciled CDL carriers an 11-day deadline, the spot-to-contract spread starts squeezing 3PLs, Knight-Swift trims its Q1 guide but stays bullish, and more.
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