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- J.B. Hunt stock slid as much as 13% on Wednesday after an earnings report that missed estimates.
- Demand for its freight services was weaker than expected in the first quarter.
- The firm is a bellwether for the freight industry, which has been mired in a post-pandemic recession.
A leading freight company is seeing its stock tank after weak trucking volumes led to a first-quarter earnings miss on both profit and sales.
JB Hunt shares slid as much as 13% on Wednesday after the company posted a profit of $127.5 million, which was $70.3 million less than it earned in the same period last year. Meanwhile, revenue missed forecasts of $3.11 billion, and instead slumped 9% to $2.94 billion.