On September 16, JB Hunt Transport fell 9.59% in regular trading, trading at $246.545/share, with turnover of $41.679 million. The sharp decline was triggered by a profit warning issued by the company's CFO at a Morgan Stanley investor conference, forecasting Q3 earnings to fall 5% to 10% sequentially from Q2.

CFO Brad Delco cited one of the most acute changes in purchased transportation costs, with intra-quarter spot rates surging 30%. Driver-related expenses — including recruiting, advertising, onboarding, training, and sign-on bonuses — are expected to rise approximately $25 million sequentially, while record-high diesel prices are projected to create a $10 million headwind from Q2 to Q3. Additionally, the JBT truckload segment reportedly lost money during the period, and margins at the ICS brokerage unit were squeezed. Barclays and Wells Fargo subsequently lowered their price targets on the stock. Management emphasized that intermodal demand remains robust and freight volumes continue to recover, which could partially offset cost pressures, but market concerns over near-term profitability dominated sentiment across the broader Cargo Ground Transportation sector, where Knight Transportation fell 4.73%, Saia dropped 2.10%, and ArcBest declined 2.16%.

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