Coronavirus to Cause Increased Carrier Prices with Shipper Discussion: J.B.Hunt

As the year progresses, the increased cost pressure on carriers from pandemic-related expenses will begin to show up in pricing discussions with shippers, J.B. Hunt President of Intermodal Darren Field said on a Thursday call with analysts. The carrier's intermodal revenue was down 7% year over year (YoY) in the second quarter, with operating income down 14% YoY. Volume for the segment was down 2% YoY.��"It’s hard to see three months, four months from now, much less next year in that pricing cycle," Field said. "But as we sit here today, I do think that we’re all feeling some challenges on the cost front headed our way." Interim CFO John Kuhlow said the company spent $11 million in Q2 and $15 million in Q1 on pandemic-specific costs, including paid time off for employees, personal protective equipment (PPE), cleaning and security.