J.B. Hunt's stock on pace for biggest percentage drop since May 2022 after earnings
Shares of trucking and transportation-services provider J.B. Hunt (JBHT) were down 6.3% on Wednesday and on pace for their biggest percentage decrease since May 18, 2022, when they fell 9.01%. The decrease came a day after the company reported third-quarter results that missed Wall Street's expectations, amid continued weaker shipping demand and lower prices following 2021's e-commerce shopping binge and supply-chain crunch. J.B. Hunt President Shelley Simpson on Tuesday said that "we are not at a point yet to say we're out of the freight recession," but added "we are seeing signs of things moving in a positive direction." Shares of J.B. Hunt have seesawed through this year, but are up 6.5% year-to-date.
-Bill Peters
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10-18-23 1158ET
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