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Hunt Posts Q2 Loss Despite 40% Spot Rate Surge as Cost Pressures Persist

Hunt's over-the-road segment reported a second-quarter loss even as spot capacity rates climbed roughly 40% year-over-year, underscoring the lag between rising costs and contract rate adjustments. Operating expenses per mile have increased 48% to 60% since 2019. Contract rates advanced only 5% to 6% over the same span, creating a structural margin gap that has starved carriers of reinvestment capital. The spot market has moved faster than contract pricing, with the NTI index reaching 60% above year-ago levels in June. Hunt expects another bid season will be required to align contract rates with current cost structures. Driver availability remains constrained, with wage pressure likely to accelerate in 2025 and 2027. Higher financing costs are also limiting fleet expansion opportunities for smaller carriers.