Results from JB Hunt confirm Cass Freight Index – up 11% from May and 27.9% compared to June 2019. JBH’s revenue is up 36% and profits up 38%. Segments (year over year):
- Intermodal (JBI) revenue grew 21%, driven by a 6% increase in volume and a 15% increase in revenue per load
- Brokerage revenue up 100% – with revenue per load up a whopping 66%... mostly from spot rates. Contract rates (about half the total volume) were only up 35%
- Truckload revenue up 70% with a huge 58% increase in revenue per load and 5% more loads (they added 130 power units)
- Dedicated revenue up 17% – they added >800 tractors
It is ugly out there – but you knew that. Now you can tell your boss. The only silver lining – JBH is adding capacity (Tractors) and the brokerage unit is making the supply chain more efficient.
Separately, congratulations to one of the family: AutoScheduler.ai, the system that tells the WMS what to do and when to do it (aka schedules activities), is mentioned in the Gartner Hype Cycle as adding "high value” – see more here or schedule a rapid assessment here