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Higher transportation rates, which included a rise in diesel prices and driver rates going into the peak holiday season, have drastically raised costs for the company, CFO Brad Delco said at the Morgan Stanley Laguna Conference in California on Tuesday. For live updates on US Markets, click here Shares of other trucking companies fell between 0.6% and 3%, with Expeditors International of Washington down the least and Knight-Swift down the most. Here are more details: * J.B. Hunt gets about 50% of its quarterly revenue from the intermodal segment, where goods are shipped through two or more modes of transport. * However, a two-quarter lag in intermodal prices catching up with costs left the company struggling to keep up with higher expenses in its trucking business. * Baird analysts said the warning shows the company was "slower than they should have been" to raise rates, while being "overly reliant" on reducing operating costs. * The company forecast about $25 million in additional driver-hiring costs in the third quarter, compared with the second quarter, while fuel costs are expected to rise by at least $10 million. * Transport firms this year have battled rising fuel rates, driven by the Iran war, by passing them on as surcharges to customers. * The industry has also faced an acute shortage of skilled drivers after Washington's move to bar non-citizens from applying for commercial driver licenses. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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