Freight forwarder JB Hunt reported a 20% surge in first quarter revenues, the fastest rate of expansion since at least 2014. Higher fuel surcharges helped the headline figure, though a marked increase in volumes was the main driver. While the absolute level of profitability was 2% higher than analysts expected, a rise in driver costs meant the EBITDA margin – a critical measure of pricing discipline – was 14.1% vs. 14.3% expected and down from 14.9% a year earlier. That was a similar pattern to (but not as bad as) that shown by Fedex at its most recent report. The two company’s reports a...
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