Continuing decline in business is not halting investment plans at JB Hunt, as the firm prepares for a rebound in the market.
Its results for the second quarter reflect the headwinds: revenues dropped 18%, to $3.13bn, while operating income fell 23%, to $270.7m.
The slump was right across JB Hunt’s portfolio and management blamed reduced volumes and downward pressure on pricing.
Total freight transactions on the firm’s 360 platform slumped 40%, to $336m, …
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