J P M O R G A N North America Equity Research 10 July 2026 Transportation & Logistics 2Q26 Preview: Bumps in the Road Ahead, No Clear Signs of a Cycle Peak Yet Although we are decidedly less optimistic ahead of this earnings season than we were in 1Q26 (recap here), the current setup looks more like a near-term plateau heading into a seasonally softer part of summer than a clear cycle peak. Our Summer Speaker Series of nine expert calls and recent discussions across the LTL industry reinforced that there is ...