Trucking industry leaders are reporting mixed demand for services as retail inventories pile up with easing consumer demand.
While companies such as Landstar and Marten reported record Q2 revenue, some executives have also noted pockets of softening demand or even described future conditions as volatile and unpredictable. Many carriers are slowing, if not stopping hiring entirely, after reporting labor shortages just months ago.
Here’s how some major carriers are approaching a shifting demand environment.
Shelley Simpson, who took on the role of company president Aug. 1, said easing consumer demand has created supply chain “uncertainty in the market.”
While last-mile demand has softened in some markets, Simpson said J.B. Hunt expects a “good second-half” of the year.
“I will say inventory has had some short-term challenges and changes for our customers, going all the way upstream in the supply chain, but those are supposed to be more short-term than they are long-term.
Given high inflation and slowing consumer demand, President and CEO Jim Gattoni repeatedly noted during his company’s July 20 earnings call a “very unpredictable” environment in which shippers have given conflicting messages.