Key Words: It’s simple, J.B. Hunt president says: ‘We’re in a freight recession.’

by | Apr 18, 2023 | Stock Market

“‘Simply stated, we’re in a freight recession.’”

— J.B. Hunt President Shelley Simpson

Trucking and transportation company J.B. Hunt Transport Services Inc. reported late Monday first-quarter profit and revenue that fell below expectations, as volumes and revenue per truckload declined amid a “freight recession.” “To start, we’re in a challenging freight environment where there is deflationary price pressure for an industry that continues to face inflationary cost pressures,” President Shelley Simpson said in the post-earnings conference call with analysts, according to an AlphaSense transcript.

Simpson said, however, that based on an evaluation of how carriers can perform in the current environment, it would be “very difficult” for spot pricing to go significantly lower. “I’m not suggesting we’ve completely found bottom, but we have seen a more leveling out,” Simpson said. J.B. Hunt’s
stock slipped 0.2% in afternoon trading Tuesday, and has swung between a loss of as much as 1.5 …

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