US intermodal picking up steam as trucking woes continue
After a long trough of sluggish performance, US intermodal traffic is growing, and the market ...
SEEKING ALPHA reports:
J.B. Hunt Transport Services (NASDAQ:JBHT) slipped in postmarket action on Tuesday after falling slightly short of estimates on both lines of its Q3 earnings report.
The Arkansas-based transportation company reported total operating revenue fell 17.6% during the quarter to $3.84B. Current operating revenue was down 15% compared to a year ago excluding the fuel surcharge revenue.
The company said the decrease was driven by a 14% decrease in the intermodal business and 22% drop in truckload revenue per load. A 38% decrease in volume in the integrated capacity solutions business, a 20% decrease in stops in Final Miles Services, and a 1% decline in average revenue producing trucks in Dedicated Contract Services were also negative factors. A partial offset during the quarter was a 1% increase in JBI volumes and a 6% increase in JBT loads compared to a year ago…
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