All articles tagged with #jb hunt
Shares of Five Below, Spirit Airlines, and JB Hunt Transport Services are slipping in after-hours trading due to disappointing second quarter earnings guidance and results. Five Below announced a CEO transition and slashed its earnings forecast, Spirit Airlines cut its revenue guidance due to lower non-ticket revenue, and JB Hunt reported earnings and revenue below Wall Street expectations.
Stocks of companies including Five Below, Interactive Brokers, and J.B. Hunt saw significant movements in after-hours trading.
Amazon plans to deploy new AI and robotics technology in its warehouses to improve delivery times and safety, while J.B. Hunt reports a 30% drop in profits due to lower shipping demand. United Airlines shares slide after forecasting earnings impact from flight suspensions in Israel. Nvidia and AMD shares fall following new AI chip restrictions imposed by the White House. Housing starts are projected to increase in September.
J.B. Hunt Transport Services Inc., a major supply chain solutions provider, has announced an agreement to purchase 13 zero-emission Class 8 trucks from Nikola Corporation. The order includes 10 battery-electric and three hydrogen fuel cell electric vehicles, which will be strategically located at facilities servicing J.B. Hunt's key routes. This purchase is part of J.B. Hunt's commitment to reducing carbon emissions and achieving its goal of reducing carbon emission intensity by 32% by 2034. The first vehicles are expected to be delivered in August 2023.
The first week of earnings season saw J.B. Hunt's president, Shelley Simpson, declare that the United States is in a "freight recession." This statement highlights the struggles of the trucking industry and the impact it has on the economy.
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.