Q2 2025 Earnings Summary
| Metric | YoY Change | Reason |
|---|---|---|
Total Revenue | ≈0% change | Overall revenue remained nearly unchanged because declines in segments such as FMS and ICS were largely offset by modest uplifts in JBI and JBT, reflecting ongoing pressures on yield and volumes in some segments balanced by improvements in others. |
JBI | +2.1% | JBI revenue grew modestly driven by increased load volumes in line with previous quarters’ trends, though a slight decline in revenue per load limited the growth, continuing the recovery seen from earlier performance improvements. |
FMS | -10% | FMS revenue saw a significant decline due to persistent weakness in customer demand and fewer stops, echoing the challenges seen in Q1 2025 where a 12% drop was noted, despite efforts through new contracts and revenue quality improvements. |
JBT | +5.4% | JBT revenue increased as a result of improved asset utilization—evidenced by better trailer turns and possible volume gains—which contrasts with earlier declines in Q1, indicating a rebound in operational efficiency for this segment. |
DCS | Slight decline (from 851 to 846.8 million USD) | DCS revenue experienced a minor drop largely due to a continued decrease in the average number of operating trucks, a trend also observed in prior periods, though partially mitigated by modest productivity gains. |
ICS | Declined from 270 to 260.2 million USD | ICS revenue fell slightly as ongoing reductions in overall load volume and a smaller carrier base—consistent with earlier challenges from rate and volume pressures—were only partially offset by an increase in revenue per load, reflecting a continuing strategic shift toward contractual business. |
| Metric | Period | Previous Guidance | Current Guidance | Change |
|---|---|---|---|---|
Tax Rate | FY 2025 | 24–25% | 24–25%, likely towards the higher end | no change |
Net Capital Expenditures | FY 2025 | $500–$700M | $550–$650M | no change |
Cost Initiatives | FY 2025 | no prior guidance | $100M in annual costs to eliminate | no prior guidance |
Intermodal Business | FY 2025 | no prior guidance | Modest rate increases and volume growth | no prior guidance |
Dedicated Contract Services | FY 2025 | no prior guidance | Modest fleet growth with potential startup costs impacting operating income growth | no prior guidance |