by Priyamvada C (Reuters) U.S. trucking firm J.B. Hunt Transport Services ($JBHT) quarterly results missed market expectations on Wednesday, hit by lower intermodal volumes and high driver wages.
Supply chain disruptions and port logjams have put pressure on intermodal volumes at trucking companies and railroad firms, depressing results in 2022. Intermodal transportation means moving of freight by two or more modes of transportation, usually from a train to a tractor or ship, or vice versa.
A shortage of drivers has also piled pressure on truck operators who have had to shell out more pay to attract and retain drivers.
J.B. Hunt on Wednesday also said its unit would award nearly $9 million in appreciation bonuses to full-time company drivers and full-time hourly maintenance and office employees.
Oct 1 (Reuters) – The International Longshore and Warehouse Union (ILWU) representing U.S. dockworkers has filed for a chapter 11 bankruptcy protection to resolve a pending litigation with the Oregon affiliate of the International...
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