“Wednesday's First Moves: JBHT Earnings Hit, Homebuilder PT Cuts, EPXE Downgrade”
JBHT faces near-term pressure from a Q3 earnings guidance cut of 5-10% due to rising fuel and driver costs, partially offset by pricing power from tight capacity.
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.