- U.S. trucking firm JB Hunt Transport Services reported a 24% fall in second-quarter profit on Tuesday as a result of continued weakness in their truckload and intermodal businesses.
Operating income declined 31% in the intermodal segment on higher wage costs for both driver and non-driver, underutilized equipment ownership expenses, increased spending on maintenance, and higher cost for insurance and claims compared to revenue.The Arkansas-based company posted a quarterly revenue of $2.93 billion, while it reported a per-share profit of $1.32, down from $1.81 a year ago.
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