Latest news with #Arkansas-based
Business Wire
a day ago
- Business
- Business Wire
United States: TotalEnergies Expands Its Investments in Sustainable Forestry Operations to Preserve Carbon Sinks
PARIS--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) signed an agreement with NativState, an Arkansas-based forest carbon project developer, to conserve forests from land conversion and heavy timber harvesting. The transaction includes 13 Improved Forest Management (IFM) projects located in Arkansas, Louisiana, Mississippi and Tennessee, U.S.A, covering 100,000 hectares (247,000 acres) owned by more than 280 private family forest landowners. The carbon program managed by NativState offers landowners a sustainable income alternative to this region's common practice of heavy timber harvesting while restoring forest health and improving carbon stocks. This investment will support sustainable forest practices, such as identifying and preserving high conservation value forests, implementing best management practices for streamside management zones, improving forest species diversity, and conserving wildlife corridors. It will also generate social benefits to small landowners such as forestry management education and technical support, as well as financial benefits by giving them access to voluntary carbon markets. All carbon credits generated by the project will be certified by the ACR, an internationally recognized carbon crediting program, and will be acquired by TotalEnergies. After prioritizing emission avoidance and reduction, the Company will use these credits from 2030 onwards to voluntarily offset part of its remaining direct Scope 1 & 2 emissions. 'TotalEnergies confirms its commitment to support the conservation and enhancement of carbon sinks, with local value creation', said Adrien Henry, Vice President Nature Based Solutions at TotalEnergies. 'We are thrilled to support NativState to scale up their operations, directly benefiting the environment and their local communities.' 'We, at NativState, are honored and deeply grateful for our partnership with TotalEnergies and our forest landowner families, which creates extraordinary opportunities to build a lasting legacy for small forest landowners in our communities across the southern United States while supporting TotalEnergies in addressing the challenges of global energy markets,' said Stuart Allen, NativState Founder and CEO. 'It is a privilege to empower these landowners to embrace sustainable forestry practices, cultivating healthier lands and stronger communities for generations to come.' *** About TotalEnergies Nature Based Solutions As part of its climate ambition, and in addition to its existing actions to avoid and reduce emissions, TotalEnergies works with many local partners around the world to develop and conserve natural carbon sinks, while helping to preserve or improve their biodiversity. These operations follow a long-term approach of sustainable and integrated economic development of areas with local communities. TotalEnergies plans to invest $100 million per year to build a portfolio of projects capable of generating at least 5 million metric tons of CO2e of carbon credits per year by 2030. These carbon credits will be used after 2030 to offset the Company's scope 1 & 2 emissions. Learn more with our TotalEnergies' Sustainability and Climate 2025 – Progress Report About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. About NativState NativState LLC ( is a forest carbon development company partnering with small forest landowners across the southern United States to deliver access to global carbon markets. We work with landowners to improve and conserve their forests while realizing a financial return based on the creation of high-quality carbon credits sold to companies seeking to meet and exceed their carbon emission reduction goals. Using ACR's Improved Forest Management (IFM) methodology and our forty-year carbon agreement, we work with landowners to provide a new source of income from their forests versus historical, intensive timber harvesting. Through this process NativState empowers forest owners with the ability to manage their properties sustainably and provide the co-benefits of improved water quality, improved biodiversity, and improved overall health of the forest. @TotalEnergies TotalEnergies TotalEnergies TotalEnergies Cautionary Note The terms 'TotalEnergies', 'TotalEnergies company' or 'Company' in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words 'we', 'us' and 'our' may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Mint
3 days ago
- Business
- Mint
Millions stolen, death threats: Should banks do more to fight ‘pig butchering'?
For nearly 50 years, Anamarie Hurt trusted her husband, Craig, to manage their finances. And he did a good job of it, making investments that grew into a comfortable nest egg. Then Craig walked into a bank in Tulsa, Okla., and began moving their retirement funds into cryptocurrency investments that turned out to be fake. A year later, after losing more than $5 million, the Hurts' life savings were gone. At first, Anamarie's anger was directed at Craig. But it soon found another target: the bank that she said helped him send wires as high as $300,000 at a time to scammers. Now that investment scams, sometimes called pig butchering, are booming global operations, some Americans are demanding their banks and financial advisers do more to prevent the scams from happening. Pressure is also spreading to telecoms and social-media platforms such as Facebook, where scammers find their marks. In 2023, Anamarie sued Arvest Bank, the Arkansas-based regional lender that processed Craig's wire payments. Similar lawsuits have sprung up around the country, seeking damages from the likes of JPMorgan Chase and Wells Fargo and alleging they didn't do enough to investigate their customer's suspicious behavior or to block payments to scammers. A lawyer for Arvest, which hasn't publicly responded to the Hurts' claims, declined to comment on the lawsuit. The dispute is now in arbitration. Operating from compounds in Southeast Asia and West Africa, criminal gangs have mastered the art of building trust with victims—or fattening up their 'pigs." Scammers cultivate romantic connections with victims while posing as savvy investors with knowledge about how to strike it rich. Victims are often elderly or otherwise vulnerable, and many end up losing their life savings. The scams have put banks in a difficult position. If banks don't try to stop fraudulent payments, victims and their advocates argue, scammers will continue extracting tens of billions or more each year from vulnerable Americans. But holding payments and trying to talk victims out of being scammed, as some states now allow, can provoke a backlash from customers. Bankers argue that they already have their hands full trying to thwart money laundering, terrorist financing and other types of fraud and have put considerable resources into such efforts. They say they can't be expected to protect their customers from making ill-advised decisions. Those who sue their banks face an uphill battle. Federal law requires banks to reimburse people whose credit cards are stolen or who have their accounts infiltrated by fraudsters. But there's little protection for the growing ranks of Americans who are tricked into turning over their money. For Anamarie, the episode has come with one haunting twist after another. As she worked to get to the bottom of what happened, she faced death threats from scammers, who repeatedly told Craig they would track down and kill him and his wife if he didn't comply with their requests. 'Look I'm given you 1 hour to send my money to my wallet otherwise I don't mind spending extra money driving down to your house and gun you and your f—ing wife down instantly and nothing will happen," one message said. The scammers also tried to blackmail Anamarie, sending her photos Craig had taken of her in the shower at their behest and without Anamarie's consent. She also made unsettling discoveries about Craig, the person she thought she knew better than anyone—including a medical issue that helped explain why he was vulnerable to the scam and why his judgment deteriorated so quickly. In August 2022, Anamarie was shopping at Walmart when her credit cards were declined. When she brought up the issue at home, Craig said he would take care of it. But Anamarie was worried. 'Are you being scammed?" she finally asked him. Flustered, Craig admitted it was possible. They went to the police, where Anamarie, in shock, started understanding the severity of the situation. She and her sister would spend months unraveling what had happened and learning the extent of the damage. A year or so earlier, Craig had responded to an online ad about investments and later received a text message from someone calling themself Tiffany, according to his hazy account. The person struck up a flirtatious exchange and was soon telling him about a lucrative opportunity. All he needed to do was wire money from his bank account. Craig's early efforts to wire money to scammers had raised alarm bells at the Bank of Oklahoma, where the Hurts had banked for their entire marriage, Anamarie would learn. The bank closed Craig's accounts after he made at least one suspicious payment. Another bank where he opened an account quickly did the same. Banks have a legal obligation to screen for and report potential money laundering activity by their customers. If a customer continues to engage in suspicious activity, banks will sometimes close the account. The law that requires banks to report suspicious money laundering activity was passed in 1970. Later that decade, as electronic payments such as debit cards and ATMs became ubiquitous, Congress also passed a law requiring banks to screen for fraudulent activity and reimburse customers for stolen funds. Fraud, however, was defined by lawmakers at the time as an unauthorized transfer—meaning when a criminal impersonated a customer or got access to an account without the customer's help. The pig-butchering scams of today often slip through the cracks of banks' anti-money laundering and fraud detection programs, since victims are tricked by scammers into authorizing the fraudulent transactions themselves. Craig plays fetch with his dog, photos at the Hurts' home. In April 2021, Craig landed at Arvest, opening a checking account at a branch a five-minute drive from the Hurts' home. There he began sending more wires to the scammers, starting with a payment of $25,000 and quickly escalating to larger amounts. Craig sent the wires in-person and with the help of Arvest employees, according to the Hurts' lawsuit. To fund the transfers, he liquidated the Hurts' retirement funds at Raymond James. He also drained his mother's trust and, after being told he need to pay additional fees to access his fake investment earnings, the funds from a $350,000 home-equity loan on the Hurts' home. Anamarie's lawsuit would later cite the federal anti-money-laundering laws that require banks to screen for suspicious activity. Despite what the suit calls obvious red flags, such as the size of the transfers and the suspicious names of the recipients, the Arvest employees who assisted Craig didn't investigate his wire payments or alert Anamarie, whose name was on the account. Those failures constituted a form of legal negligence, Anamarie's lawyers argued. They also questioned Arvest's approval of the home-equity loan, because taking out such a loan usually requires signatures from all owners of the residence. But Anamarie hadn't known about the loan and didn't sign any documents for it, according to her suit. Other lawsuits by scam victims accuse banks of failing to sufficiently vet bank accounts opened by scammers to launder pig-butchering funds or cite state laws, including a California statute that allows victims to bring suit against institutions or individuals who assist in elder abuse. In an ongoing lawsuit there, an 80-year-old widow named Alice Lin has accused JPMorgan Chase and several of its employees of aiding pig-butchering scammers who defrauded her of nearly her entire life savings. Lin, who hadn't sent a wire transfer in more than six years, was scammed into wiring $720,000 over the course of three weeks, according to the suit. In a victory for Lin, a federal judge last year denied a motion by JPMorgan to dismiss the case. A JPMorgan spokesman said the bank disputes her claims and that employees warned her the payments would be irreversible. During the Hurts' visit to the police in 2022, an officer told Anamarie to get power of attorney over Craig. The next day Craig refused to go along with it and threatened to kill himself. She sought psychiatric help for Craig, and got a court to appoint her his legal guardian. The Hurts don't have children. At Arvest just days later, Anamarie and her sister discovered that only a few hundred dollars remained in the Hurts' checking account. 'Oh, we know Craig," Anamarie recalled the bank manager saying. 'He's in here all the time." In some states, a bank like Arvest might have been able to pause the payments that Craig was making, and been required to report his behavior to authorities or make a reasonable attempt to contact Anamarie or another family member. That wasn't the case in Oklahoma. The state has some requirements for investment advisers and broker-dealers such as Raymond James, but none for banks—often the last stop before a victim's money is sent to scammers and lost forever. For joint accounts, banks aren't typically required to notify another account holder of any suspicious withdrawals. More than 20 states do have laws that provide banks with a safe harbor from legal action for delaying transactions if they suspect a client is the victim of financial exploitation. More than 40 have a similar safe harbor for investment professionals such as broker-dealers. Many—but not all—of the state laws specifically apply to clients over the age of 60 or 65. In some cases, the laws also require a report to state authorities or permit banks to contact a trusted third party such as a family member. Anamarie searches through binders of credit card statements and bank statements. In Alabama, safe harbor rules have allowed the state to prevent millions of dollars from being siphoned from seniors, said Amanda Senn, director of the state's securities regulator. A rule enabling investment professionals to delay a payment for up to 25 days went into effect in 2016, and a parallel safe harbor for banks was created in 2021. Banks and financial advisers have filed a growing number of reports of potential exploitation since Alabama created the twin rules. The Alabama Securities Commission received 37 reports in the first full fiscal year after the first rule went into effect. In its most recent fiscal year, the commission received 319. 'Financial professionals are looking out for their customers, but it's getting increasingly harder for everyone," said Senn. Calls for federal legislation that addresses banks' responsibilities around elder fraud and investment scams have been growing. Last year, Democrats in Congress introduced a bill that would have expanded the 1970s era fraud laws and forced banks to cover losses in cases where consumers are tricked into sending payments. Some industry representatives have argued for regulatory guidance that would allow banks to better share information with each other about customers impacted by scammers. Plaintiffs' lawyers and victim advocates have also pushed states to go further than current hold laws, which allow banks to delay transactions if they wish, by requiring banks to do so if they have a reasonable suspicion of fraud. Last year, California's legislature voted to pass a law that would have required banks and other businesses to create an emergency contact program and delay suspicious transactions for elderly account holders age 65 or older. The California Bankers Association opposed the legislation, arguing that banks were 'ill-equipped to second-guess their customers' decision," and the bill was eventually vetoed by Gov. Gavin Newsom. 'The argument is that it's the customer who's doing it," said Ken Palla, a financial security expert and former director at MUFG Union Bank. 'It's their money, and they can direct us where to send it." Victims can be adamant and refuse to believe family members or authorities who tell them they are being scammed. 'They really wrap these people around the axle," Palla said. Craig and Anamarie head upstairs to Craig's den, where he spends much of his time. On at least one occasion, Craig upbraided an Arvest customer-service representative over the phone after he was questioned about a suspicious $1,000 Zelle payment, according to a recording of the call reviewed by The Wall Street Journal. The representative told Craig it was a red flag that the name on the Zelle account where he was trying to send money didn't match the name in the email address he was given. Craig's Zelle account had been frozen as a result. 'I don't need an overseer," Craig responded. 'If you don't want to do it, just cancel the transaction, and I'll do it somewhere else." The Arvest representative ultimately declined to unfreeze the account, according to the recording. 'You can get employee of the year," Craig told him sarcastically. Shortly after discovering the scam, Anamarie learned something else about Craig that helped explain what had happened. His doctor told her that Craig had vascular dementia, likely due to a brain injury from a fall he took in 2015 while walking his brother-in-law's dog. Someone with vascular dementia can be completely articulate and appear normal to their friends and family, but also be impaired in their ability to assess risk and make decisions. Anamarie had been aware of the injury, but was under the impression that Craig had mostly recovered after being given medication. Her lawyers also uncovered more about how scammers manipulated Craig into wresting control of his funds from his longtime financial adviser at Raymond James. The adviser had repeatedly tried to convince Craig that 'Tiffany" was scamming him, to no avail. While Oklahoma doesn't have a law enabling banks to pause transactions, it does provide a safe harbor for broker-dealers to do so. Around August 2021, Raymond James's compliance department placed restrictions on Craig's accounts and alerted the state's adult protective services agency about his behavior, according to emails reviewed by The Wall Street Journal and a person familiar with the matter. But Craig still insisted on withdrawing money from his Raymond James accounts for fake cryptocurrency investments. Eventually he moved his funds to a Fidelity brokerage account, where they were cashed out and transferred to Arvest. 'You do not want to be the one who effectuated his request for a scam and likely immense loss—let him do it elsewhere," a compliance executive told Craig's financial adviser in an email. 'We all tried our best to help him." Whether the firm fully alerted Anamarie is unclear. Anamarie said she recalls one phone conversation with their adviser at Raymond James but said the adviser was vague and that the call left her confused. The adviser said he fully informed Anamarie of what was happening. In an email following that call, she told the adviser that she had confronted Craig about whether he was being scammed after coming home and finding him on the phone transferring funds from Fidelity. 'I cannot convince him he's being scammed…He has it in his head he knows what he's doing," Anamarie wrote. She said she later forgot about the email and the incident and that to her knowledge adult protective services never reached out. Oklahoma Human Services declined to comment and said all cases are confidential. Raymond James still manages a separate IRA fund that is solely owned by Anamarie. In the months that followed the Hurts' visit to the police station, the scammers proved reluctant to let go of Craig. They infiltrated their devices, revealing on one occasion that they knew Anamarie's exact location: 'Right now you at the dance at the senior center." Anamarie eventually took Craig's phone away completely. For a year, she slept with her laptop, phone and wallet under her pillow so he couldn't get hold of them. The arbitration with Arvest is scheduled to take place later this year. Other lawsuits against banks have faced dismissal or been settled on undisclosed terms, which has the effect of preventing the suits from creating legal precedent. Thanks to Anamarie's measures, Craig's behavior has normalized somewhat. He has stopped trying to sneak off to local convenience stores to buy gift cards for women he is chatting with online. He now sleeps for 18-20 hours a day, Anamarie said, often in the recliner where he still searches for his phone. He has never apologized about the damage he caused, Anamarie said. Given the opportunity, he seems to think he could make everything right, she said, saying he has told her, 'All I need is one more investment." Write to Dylan Tokar at
Business Upturn
16-07-2025
- Business
- Business Upturn
Mueller Streamline Expands in Wynne, Arkansas
WYNNE, Ark., July 15, 2025 (GLOBE NEWSWIRE) — Mueller Streamline Co. has announced an investment of more than $7 million to expand its manufacturing facility in Wynne, Arkansas. The expansion is expected to create 60 new jobs over two years. 'Since our acquisition of Halstead Industries in 1998, our companies have not only supported the local economies of the City of Wynne and Cross County, but they have also invested in further expansion across the State of Arkansas. Among other initiatives, we built a new distribution center on the Wynne campus to support retail distribution, and have acquired additional operations in Springdale and Fayetteville,' said Gregory L. Christopher, CEO and Chairman of Mueller Industries. He added, 'Mueller is making this additional $7.5 million investment to expand our distribution and packaging operations. This investment will initially add another 40 jobs, thereby increasing the number of employees at our Wynne campus to approximately 170. 'We have long appreciated the work ethic and spirit of the employees in all of our Arkansas-based operations, and this most recent investment reflects our commitment to and belief in the hard -working people of Wynne and Cross County.' The company is committed to 40 new jobs initially, with the expectation of placing them within the first year of the expansion, with an additional 20 new positions in year two. 'This $7 million investment and creation of 60 new jobs builds on my administration's promise to take care of every community: big or small and further strengthens the city of Wynne's ongoing recovery from a devastating tornado in 2023. Thank you, Mueller Copper Tube, for creating more workforce opportunities in Wynne and for your continued commitment to the Natural State,' said Governor Sanders. 'Helping our existing industries expand is vital for growing the economy in Arkansas, and Mueller Industries' investment in Wynne will play a major role in our state's economic momentum,' said Clint O'Neal, executive director of the Arkansas Economic Development Commission. 'The 60 jobs created by Mueller's investment represent new economic opportunities in eastern Arkansas, and we congratulate the company and our friends in The City with a Smile on this announcement.' 'The City of Wynne is excited to see the expansion of Mueller and looks forward to working alongside the Wynne Economic Development Corporation (WEDC) and the Arkansas Economic Development Commission (AEDC) to support the creation of 60 new jobs,' said Mayor Jennifer Hobbs. 'This expansion is a major step toward fostering growth, job opportunities, and economic prosperity for our community.' Plans for the expansion and upgrade at the facility located at 1525 North Falls Boulevard in Wynne began in the first quarter of 2025. 'The Wynne Economic Development Corporation is excited to partner with AEDC and Mueller in supporting the expansion efforts that will bring 60 new jobs to our community,' said Bevin Hunter, President and CEO of the Wynne Economic Development Corporation. 'This collaboration represents a significant milestone in creating sustainable growth and fostering opportunities for local talent, while strengthening our region's economic future.' Mueller will be hiring for a range of positions in Wynne. Applications are currently open, and individuals can apply by contacting: Brenda Kelley Office (870) 208-1006 [email protected] or Hayley Barnet Office (870) 208-1031 [email protected] About Mueller Industries, Inc. Mueller Industries, Inc. (NYSE: MLI) is a global industrial corporation whose holdings are leading manufacturers and distributors of essential products. Those products support our critical infrastructure and serve a broad range of industries including plumbing, heating, ventilation, air conditioning and refrigeration (HVACR), industrial manufacturing, appliance, transportation, medical, military and defense and electrical. In addition to being the only vertically integrated manufacturer of copper tube and fittings, brass rod and forgings in North America; the Company also has operations in Europe, Asia and the Middle East. About the Arkansas Economic Development Commission At AEDC, we know economic advancement doesn't happen by accident. We work strategically with businesses and communities to create strong economic opportunities, making Arkansas the natural choice for success. AEDC is a division of the Arkansas Department of Commerce. To learn more, visit Contact: Tyler Hale Arkansas Department of Commerce [email protected] 501-410-7883 A photo accompanying this announcement is available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
15-07-2025
- Business
- Yahoo
Mueller Streamline Expands in Wynne, Arkansas
Mueller Streamline Expands in Wynne, Arkansas WYNNE, Ark., July 15, 2025 (GLOBE NEWSWIRE) -- Mueller Streamline Co. has announced an investment of more than $7 million to expand its manufacturing facility in Wynne, Arkansas. The expansion is expected to create 60 new jobs over two years. 'Since our acquisition of Halstead Industries in 1998, our companies have not only supported the local economies of the City of Wynne and Cross County, but they have also invested in further expansion across the State of Arkansas. Among other initiatives, we built a new distribution center on the Wynne campus to support retail distribution, and have acquired additional operations in Springdale and Fayetteville,' said Gregory L. Christopher, CEO and Chairman of Mueller Industries. He added, 'Mueller is making this additional $7.5 million investment to expand our distribution and packaging operations. This investment will initially add another 40 jobs, thereby increasing the number of employees at our Wynne campus to approximately 170. 'We have long appreciated the work ethic and spirit of the employees in all of our Arkansas-based operations, and this most recent investment reflects our commitment to and belief in the hard -working people of Wynne and Cross County.' The company is committed to 40 new jobs initially, with the expectation of placing them within the first year of the expansion, with an additional 20 new positions in year two. 'This $7 million investment and creation of 60 new jobs builds on my administration's promise to take care of every community: big or small and further strengthens the city of Wynne's ongoing recovery from a devastating tornado in 2023. Thank you, Mueller Copper Tube, for creating more workforce opportunities in Wynne and for your continued commitment to the Natural State,' said Governor Sanders. 'Helping our existing industries expand is vital for growing the economy in Arkansas, and Mueller Industries' investment in Wynne will play a major role in our state's economic momentum,' said Clint O'Neal, executive director of the Arkansas Economic Development Commission. 'The 60 jobs created by Mueller's investment represent new economic opportunities in eastern Arkansas, and we congratulate the company and our friends in The City with a Smile on this announcement.' "The City of Wynne is excited to see the expansion of Mueller and looks forward to working alongside the Wynne Economic Development Corporation (WEDC) and the Arkansas Economic Development Commission (AEDC) to support the creation of 60 new jobs,' said Mayor Jennifer Hobbs. 'This expansion is a major step toward fostering growth, job opportunities, and economic prosperity for our community." Plans for the expansion and upgrade at the facility located at 1525 North Falls Boulevard in Wynne began in the first quarter of 2025. "The Wynne Economic Development Corporation is excited to partner with AEDC and Mueller in supporting the expansion efforts that will bring 60 new jobs to our community,' said Bevin Hunter, President and CEO of the Wynne Economic Development Corporation. 'This collaboration represents a significant milestone in creating sustainable growth and fostering opportunities for local talent, while strengthening our region's economic future." Mueller will be hiring for a range of positions in Wynne. Applications are currently open, and individuals can apply by contacting: Brenda Kelley Office (870) 208-1006 bkelley@ or Hayley Barnet Office (870) 208-1031 hkbarnett@ About Mueller Industries, Inc. Mueller Industries, Inc. (NYSE: MLI) is a global industrial corporation whose holdings are leading manufacturers and distributors of essential products. Those products support our critical infrastructure and serve a broad range of industries including plumbing, heating, ventilation, air conditioning and refrigeration (HVACR), industrial manufacturing, appliance, transportation, medical, military and defense and electrical. In addition to being the only vertically integrated manufacturer of copper tube and fittings, brass rod and forgings in North America; the Company also has operations in Europe, Asia and the Middle East. About the Arkansas Economic Development Commission At AEDC, we know economic advancement doesn't happen by accident. We work strategically with businesses and communities to create strong economic opportunities, making Arkansas the natural choice for success. AEDC is a division of the Arkansas Department of Commerce. To learn more, visit Contact: Tyler Hale Arkansas Department of Commerce 501-410-7883 A photo accompanying this announcement is available at
Yahoo
15-07-2025
- Business
- Yahoo
First Look: J.B. Hunt Q2 earnings
J.B. Hunt Transport Services' second-quarter result was largely in line with analysts' expectations. The Lowell, Arkansas-based multimodal transportation provider reported earnings per share of $1.31 for the period after the market closed on Tuesday, which was 1 cent below the year-ago result. Consolidated revenue of $2.93 billion was in line with consensus and flat year over year. Operating income dipped 4% y/y to $197 million. The company's flagship intermodal unit reported a 2% y/y increase in revenue to $1.44 billion as a 6% increase in loads was partially offset by a 3% decline in revenue per load. A mix shift to the Eastern network weighed on the yield metric given the shorter length of haul. The unit's operating ratio (inverse of operating margin) deteriorated 40 basis points y/y to 93.3%. Dedicated revenue dipped less than 1% y/y to $847 million as a 3% decline in average trucks in service was largely offset by a 3% increase in revenue per truck per week (up 5% excluding fuel surcharges). The unit's OR was 30 bps worse y/y at 88.9%. A $3.6 million operating loss in the company's brokerage segment widened slightly from the first quarter, but was nearly $10 million lower y/y. Brokered loads declined 9% y/y but revenue per load was up 6%. J.B. Hunt (NASDAQ: JBHT) will host a call at 5 p.m. EDT on Tuesday to discuss second-quarter results. More FreightWaves articles by Todd Maiden: LTL pricing index to hit record high in Q3 June produces mixed freight trends, recovery remains 'elusive' Carrier Logistics automates LTL shipment data entry The post First Look: J.B. Hunt Q2 earnings appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
