Trucking firm J.B.. Hunt proclaimed this week it is in the middle of a “freight recession.”
Leaders of the Arkansas-based truck line, whose trucks can be seen daily on Oklahoma interstates and highways, had earlier forecast a freight rebound this year. But it didn’t happen.
Transport Drive reported Hunt’s revenue fell 7% in the first quarter of the year and it saw a 25% volume decline in its integrated capacity solutions. There was also a 17% drop in final mile services.
“It’s not really a question of if the freight demand will come back to normal. It’s really a question of when,” stated CEO John Roberts.
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