J.b. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.b. Hunt Transport Services — Q3 2021 Earnings Presentation
20 slides from J.b. Hunt Transport Services's earnings presentation, 2021
Slide 1: J.B. Hunt Q3 2021 Results
J.B. HUNT Q3 2021 RESULTS Presented by CONFIDENTIAL 1
Slide 2: Disclosure
DISCLOSURE This presentation and discussion may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “anticipates,” “intends,” “estimates,” or similar expressions are intended to identify these forward-looking stateme
Slide 3: Distinct & Complementary Businesses
DISTINCT & COMPLEMENTARY BUSINESSES Intermodal (JBI) • Largest, 100% 53’ high-cube container fleet 3Q 2021 Revenue Mix • Largest drayage fleet in North America • Priority loading and unloading at major rail terminals 6% 7% Dedicated Contract Services (DCS) JBI • Fleet creation, conversion, and augme
Slide 4: 3Q 2021 Results vs. 3Q 2020
3Q 2021 RESULTS VS. 3Q 2020 OVERVIEW SEGMENT PERFORMANCE 3Q 2021 Revenue: Intermodal (JBI) $3.14 billion; up 27% Revenue: $1.41 billion; up 17% Operating Income: $165.1 million; up 52% 3Q 2021 Revenue, excl FSC: $2.81 billion; up 23% Dedicated Contract Services (DCS) Revenue: $665 million; up 20% 3Q
Slide 5: 3Q Results Consolidated
3Q RESULTS CONSOLIDATED Revenue Operating Income (in millions) (in millions) $10,000 $800 $9,637 $9,165 $716 $721 $681 $734 $713 $632 $624 $9,000 $577 $600 $8,615 $8,000 $400 $274 $7,190 $176 $7,000 $200 $6,555 $6,188 $6,165 $6,000 $- $5,585 2013 2014 2015 2016 2017 2018 2019 2020 3Q 20 3Q 21 $5,000
Slide 6: Key Points
KEY POINTS • Industry leading Intermodal franchise • Differentiated and specialized Dedicated business • Independent brokerage/management services • Lighter Truckload asset model
Slide 7: Segment Discussion
SEGMENT DISCUSSION 7
Slide 8: Intermodal (JBI)
INTERMODAL (JBI) JBI Revenue Overall intermodal volumes declined 6% versus the same period in (in millions) 2020. Eastern network loads declined 2%, while transcontinental loads $5,000 declined 9% compared to the third quarter 2020. Demand for intermodal $4,717 $4,745 $4,675 capacity remains strong,
Slide 9: Intermodal (JBI) Performance
INTERMODAL (JBI) PERFORMANCE JBI Revenue Change JBI Operating Income Change 20% 60% 17% 52% 15% 50% 15% 40% 10% 30% 20% 5% 12% 1% 10% 0% 0% -1% -2% -4% -5% -10% FY18/FY17 FY19/FY18 FY20/FY19 3Q Y/Y FY18/FY17 FY19/FY18 FY20/FY19 3Q Y/Y JBI Average Length of Haul JBI Revenue per Load 1,700 $3,000 1,69
Slide 10: Dedicated (DCS)
DEDICATED (DCS) DCS Revenue (in millions) DCS revenue increased 20% during the current quarter over the same period in 2020. Productivity, defined as revenue per truck $2,400 per week, was up 7% versus the prior period. Productivity, $2,196 $2,128 excluding fuel surcharge revenue, increased 3% versu
Slide 11: Dedicated (DCS) Performance
DEDICATED (DCS) PERFORMANCE DCS Revenue Change DCS Operating Income Change 25% 50% 20% 42% 19% 40% 20% 30% 15% 20% 10% 13% 10% 3% 5% 0% 0% -3% -10% FY19/FY18 FY20/FY19 3Q Y/Y FY19/FY18 FY20/FY19 3Q Y/Y DCS Revenue Per Truck Per Week DCS Loads 5,000 4,000,000 3,676,212 3,353,553 4,692 4,750 3,000,000
Slide 12: Integrated (ICS)
INTEGRATED (ICS) ICS revenue increased 55% in the current quarter versus the ICS Revenue third quarter 2020. Segment volumes increased 4% in the (in millions) quarter while truckload volumes increased 14% from the prior $1,800 year period. Revenue per load increased 48%. In addition to $1,700 $1,658
Slide 13: Integrated (ICS) Performance
INTEGRATED (ICS) PERFORMANCE ICS Revenue Change ICS Operating Income/(Loss) 60% 55% (in millions) 50% $20.0 $14.7 40% $10.0 30% $0.0 30% 23% ($10.0) 20% ($11.1) ($20.0) ($18.3) 10% ($30.0) 1% 0% ($40.0) FY18/FY17 FY19/FY18 FY20/FY19 3Q Y/Y ($50.0) ($44.7) 2019 2020 3Q 20 3Q 21 ICS Gross Profit Margi
Slide 14: Final Mile Services (FMS)
FINAL MILE SERVICES (FMS)* FMS Revenue FMS revenue increased 13% compared to the same period 2020. (in millions) Stop count within FMS decreased 3% during the current quarter $700 $689 versus a year ago. The addition of multiple new customer contracts implemented over the last year were more than of
Slide 15: Final Mile Services (FMS)
FINAL MILE SERVICES (FMS) FMS Revenue Change FMS Operating Income/(Loss) (in millions) 60% 51% 50% $4.0 $2.1 $1.3 40% $2.0 $0.0 30% ($2.0) 22% ($0.9) 20% ($4.0) 13% ($6.0) 10% ($8.0) 0% ($10.0) ($8.8) FY19/FY18 FY20/FY19 3Q Y/Y 2019 2020 3Q 20 3Q 21 FMS Stops FMS Average Trucks 2,000 5,771,533 6,000
Slide 16: Truckload (JBT)
TRUCKLOAD (JBT) JBT revenue increased 87% from the same period in 2020. Revenue JBT Revenue excluding fuel surcharge revenue increased 85%, primarily from a 65% (in millions) increase in revenue per load excluding fuel surcharge revenue and a $550 12% increase in load count compared to a year ago. T
Slide 17: Truckload (JBT) Performance
TRUCKLOAD (JBT) PERFORMANCE JBT Average Nonpaid Empty Mile JBT Average Tractors Percentage 2,500 25.0% 1,958 19.6% 1,837 1,921 18.9% 18.8% 19.2% 2,000 20.0% 1,783 1,500 15.0% 1,000 10.0% 500 5.0% - 2019 2020 3Q 20 3Q 21 0.0% 2019 2020 3Q 20 3Q 21 JBT Loads JBT Revenue per Tractor per Week 500,000 $5
Slide 18: Summary
SUMMARY Competitively differentiated Unique intermodal network Distinct advantages in dedicated segments Network economics and brand strength to penetrate new markets Complemented by industry dynamics Shippers need to reduce costs Shippers demand on-time service Increasingly complex supply-chains Po
Slide 19: Balance Sheet
BALANCE SHEET September 30, 2021 December 31, 2020 ASSETS Current assets: Cash and cash equivalents $ 529,595 $ 313,302 Accounts Receivable, net 1,442,948 1,124,403 Prepaid expenses and other 292,604 404,412 Total current assets 2.265.147 1,842,417 Property and equipment 6,350,141 5,908,710 Less acc
Slide 20: Thank You
THANK YOU 20
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