J.B. Hunt hit hard by freight recession in Q1.
J.B. Hunt Transport Services reported a decline in Q1 earnings per share due to a "freight recession" and EPS headwinds. The company's brokerage unit was hit the hardest, with revenue down 42% YoY and an operating loss of $5.4m. The truckload segment also saw a decline in revenue, while the intermodal division's loadings were down 5% YoY. Despite recent intermodal capacity additions, container imports into the US have been down nearly 30% YoY over the last two months. J.B. Hunt's intermodal loadings were down 5% YoY in the period.