J.B. Hunt Transport Services focuses on improving freight profile and reducing costs while waiting for increased demand. Earnings per share for Q2 were $1.31, in line with expectations. Consolidated revenue was flat at $2.93B, with operating income down 4% to $197M but margins stable. Identified $100M in cost takeouts for efficiency improvements.

Intermodal revenue rose 2% to $1.44B, with loads up 6% and revenue per load down 3%. Load trends were impacted by changing customer behaviors due to the trade war. J.B. Hunt pulled forward peak season surcharge programs. Company captured positive rate increases in recent intermodal bid season.

Dedicated revenue decreased slightly to $847M, with a 3% drop in average trucks offset by a 3% increase in revenue per truck. Operating losses continued for the brokerage unit. Revenue for brokerage declined 4% to $260M in Q2. Market tightening in May due to Roadcheck led to compressed margins.

Shares of JBHT dropped 1.1% in after-hours trading. The company is hopeful for bigger rate increases in the future. J.B. Hunt aims for net fleet growth in the second half of the year. Brokerage unit recorded operating losses for the 10th consecutive quarter. Margins improved in June as spot rates softened.

Read more at Yahoo Finance: J.B. Hunt still waiting for market to turn