You can also take a look at the carrier JBHT; look at this, it's likely to continue declining into next year. It's a very negative picture to look at,
Let's also take a look at JB Hunt (JBHT) Trucks. You can see here that it is likely to continue to decline until next year.
Yes, certainly a rough day for JB Hunt, but still up 76% during the past year as you can see from our purple line here,
However, the reason that they issued this kind of poor guidance seems to be it was a headwind from the high cost of diesel right now. So, this is something that would affect the industry as a whole.
You can see that this was apparent in many other names ArcBest Knight-Swift Old Dominion CH Robinson.
Uh next up into JBHT, I know Gareth might have covered this earlier, but I wanted to highlight this because our PPI uh data reports that came out last week came in hot. They came in hot on diesel, guys.
And when you come in hot on diesel, uh, transportation companies are going to be under pressure. But as soon as we have any sort of alleviation in the Middle East, these stocks are about to pop.
Yeah, JB Hunt is uh under pressure on the move this morning, down more than 11% and this is off the back of a rare warning here. They're expecting uh third quarter earnings to decline 5 to 10% which would from the second quarter.
They warned about u rapid uh pressure from fuel prices. They're expected to create a roughly $10 million headwind compared to the second quarter. Um they also talked about labor costs, right?
Driver related costs are expected to increase and could add another 25 million in sequential costs.
So, the first one I want to discuss here is JB Hunt. And this one's kind of a little bit of an earthquake in the near term, but it's kind of very been predictable. So, JB Hunt falls 10% pre-market after they announced an earnings miss coming up.
They pre-announced their earnings are in about a month, but they pre-announced saying that they're going to miss last quarter earnings by 10 almost 10%.
