J.B. Hunt Falls 13% as $6.45 Diesel Outpaces Intermodal Surcharges

24/7 Wall St.··US·Read original
3▲2 ▼1Impact / 5
Summary · why it matters

J.B. Hunt Transport Services shares plunged 13% after CFO Brad Delco warned at a mid-September industrials conference that third-quarter earnings would fall versus the second quarter on driver-related expenses and a fuel headwind as diesel pushed past six dollars a gallon. The stock fell 13.39% over that week, from $270.45 to $234.25, while the S&P 500 slipped 0.34%, leaving shares at $234.25 against a Wall Street consensus price target of $298.48. Delco called the moves some of the most radical and abnormal fuel-price swings in company history, describing a timing mismatch because intermodal fuel surcharges reset with a lag, and said the gap closes in the fourth quarter; Bloomberg cited a national diesel average of $6.45 a gallon. Rivals repriced the same squeeze faster: Old Dominion Freight Line improved its operating ratio 450 basis points to 70.1% as LTL revenue per hundredweight rose 15.2%, and XPO posted an 18.4% adjusted EBITDA margin with revenue per shipment including fuel surcharges up 11.9%. Intermodal chief Darren Field said the price gap versus highway is wider than normal because rates are six to ten months old and expects new bids to close it, while CEO Shelley Simpson said she anticipates all businesses will see improved pricing opportunities. The ratings mix stands at 2 Strong Buy, 12 Buy, 8 Hold, 2 Sell and 0 Strong Sell, and shares remain up 74.84% over one year against the S&P 500's 15.01%.

Impact on assets 3

Industrials± Mixed · 3 stocks
JB Hunt Transport Services Inc
JBHT
▼ NegativeSupplyrelevance

Diesel above $6.45/gallon creates a fuel headwind as intermodal surcharges reset with a lag, cutting Q3 earnings versus Q2.

Old Dominion Freight Line Inc
ODFL
▲ PositivePricingrelevance

Old Dominion repriced the fuel squeeze faster, improving its operating ratio 450bp to 70.1% as LTL revenue per hundredweight rose 15.2%.

XPO Logistics Inc
XPO
▲ PositivePricingrelevance

XPO posted an 18.4% adjusted EBITDA margin with revenue per shipment including fuel surcharges up 11.9%, repricing the fuel squeeze faster.

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