Freight brokerages struggle through a long trough

Apr 19, 2024 at 08:42 AM CST
Hunt has invested in improving the online marketplace that powers most of ICS’ transactions, J.B. Hunt Carrier 360, by removing sketchy carriers and covering more loads manually to avoid fraud and bad actors. But gross margins actually widened to 14.3% compared to 13.4% in the first quarter of 2023. ICS ended up burning $17.5 million, but $11 million of that was due to integration costs related to Hunt’s acquisition of BNSF Logistics, a freight brokerage that accounts for approximately $70 million of ICS’ gross revenues.

Apr 19, 2024 at 08:42 AM CST

Hunt has invested in improving the online marketplace that powers most of ICS’ transactions, J.B. Hunt Carrier 360, by removing sketchy carriers and covering more loads manually to avoid fraud and bad actors. But gross margins actually widened to 14.3% compared to 13.4% in the first quarter of 2023. ICS ended up burning $17.5 million, but $11 million of that was due to integration costs related to Hunt’s acquisition of BNSF Logistics, a freight brokerage that accounts for approximately $70 million of ICS’ gross revenues.