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J.B. Hunt (JBHT)-Waymo Ink Deal, Aim to Fully Automate Trucks

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J.B. Hunt Transport Services (JBHT - Free Report) announced a long-term collaboration with autonomous driving technology developer, Waymo, as it aims to deploy fully autonomous trucking operations in Texas over the next few years. The move is prudent, given the persistent scarcity of drivers in the trucking industry.

This multi-year agreement extends J.B. Hunt’s relationship with Waymo. Back in June 2021, the two companies collaborated to test run autonomous freight transportation between Houston and Fort Worth in Texas. The test run was conducted on Waymo’s autonomous Class 8 trucking unit, Waymo Via, utilizing Level 4 autonomous driving technology.

J.B. Hunt’s chief sustainability officer and executive vice president, Craig Harper, said, "Our pilot last year with Waymo Via really helped us get a hands-on understanding of how autonomous driving technology could be implemented within our operations."

Through the expanded partnership, J.B. Hunt intends to conduct multiple pilot programs to access the operational capacity of Waymo Via in addressing customer needs. The deal would make Waymo Via accessible through J.B. Hunt’s digital marketplace, J.B. Hunt 360.

Zacks Rank & Other Key Picks

J.B. Hunt carries a Zacks Rank #2 (Buy). Some other stocks within the broader Transportation sector that investors can coare as follows:

Expeditors International of Washington (EXPD - Free Report) carries a Zacks Rank #1 (Strong Buy). The company has a stellar earnings surprise history. Its earnings have outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 29.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Expeditors have appreciated more than 30% in a year.

ArcBest Corporation (ARCB - Free Report) carries a Zacks Rank #2 (Buy). The company’s earnings have outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 27.4%.

Shares of ArcBest have surged more than 91% in a year.

Schneider National (SNDR - Free Report) carries a Zacks Rank #2. The company’s earnings have trumped the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 21%.

Shares of Schneider National have rallied more than 16% in a year.