Shares of J.B. Hunt Transport Services Inc. (NASDAQ:JBHT) dropped 13% on Wednesday, eyeing the steepest one-day drop since March 2020, after the trucking firm’s finance chief warned of a sequential drop of 5% to 10% in third-quarter profit.

CFO Brad Delco pointed to diesel above $6 a gallon, versus $3.70 a year ago, citing “some of the most radical and abnormal swings” in fuel prices the company has ever seen.

Barclays cut its target to $285 from $300, Wells Fargo to $305 from $335;

The warning dragged the group lower. Schneider National Inc. (NYSE:SNDR) fell 4.2%, Knight-Swift Transportation Holdings Inc. (NYSE:KNX) lost 4.2%, XPO Inc. (NYSE:XPO) slid 3.3%, Old Dominion Freight Line Inc. (NASDAQ:ODFL) dropped 3.1% and Landstar System Inc. (NASDAQ:LSTR) fell 2.7% as $6 diesel gets priced into freight margins.

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