J.B. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.B. Hunt Transport Services — Q4 2015 Earnings Presentation
17 slides from J.B. Hunt Transport Services's earnings presentation, 2016
Slide 1: J.B. Hunt Transport Services, Inc. 4Q 2015 Results
J.B. Hunt Transport Services, Inc. 4Q 2015 Results
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) 4Q 2015 Revenue Mix 6% • Largest, 100% 53’ high-cube container fleet • Largest drayage fleet in North America 12% JBI • Priority loading and unloading at major rail DCS terminals ICS JBT • Dedicated Contract Services (DCS) • Fleet creation, conver
Slide 4: 4Q 2015 Results vs. 4Q 2014
4Q 2015 Results vs. 4Q 2014 • 4Q 2015 Revenue: $1.62 billion; up 1% • 4Q 2015 Revenue, excl FSC: $1.47 billion; up 9% • 4Q 2015 Operating Income: $192.9 million; up 5% • 4Q 2015 EPS: $1.01 vs. $0.93; up 9% • Segment Performance • Intermodal (JBI) • Revenue: $967 million; up 1% • Operating Income: $1
Slide 5: 4Q 2015 Results - Consolidated
4Q 2015 Results - Consolidated Revenue Operating Income (in millions) (in millions) $7,000 $800 $716 $700 $632 $6,165 $6,188 $600 $577 $530 $6,000 $500 $444 $5,585 $348 $400 $300 $248 $5,055 $193 $5,000 $200 $183 $4,527 $100 $- 2009 2010 2011 2012 2013 2014 2015 4Q 14 4Q 15 $4,000 $3,793 Diluted EPS
Slide 6: Key Points
Key Points • Industry leading Intermodal franchise • Differentiated & specialized Dedicated business • Independent brokerage/management services • Lighter Truckload asset model 6
Slide 7: Segment Discussion
UNMATCHED CAPACITY. wi | | | al Atenas Segment Discussion
Slide 8: JBI - Intermodal
JBI - Intermodal JBI Revenue (in millions) • Total volumes grew 6% over the same period in $4,000 2014. $3,687 $3,665 • Eastern network loads increased 8% and $3,456 $3,500 transcontinental loads increased 5% compared $3,071 to the fourth quarter 2014. $3,000 • Revenue increased 1%, reflecting volum
Slide 9: JBI Performance
JBI Performance JBI Revenue Growth JBI Operating Income Growth 15% 25% 13% 19% 7% 15% 5% 1% 5% 4% 3% -1% -1% -5% -5% FY13/FY12 FY14/FY13 FY15/FY14 4Q Y/Y FY13/FY12 FY14/FY13 FY15/FY14 4Q Y/Y JBI Average Length of Haul JBI Revenue per Load 1,670 $2,200 1,666 $2,169 $2,179 1,665 1,664 $2,150 1,660 1,6
Slide 10: DCS - Dedicated
DCS - Dedicated DCS Revenue • Revenue increased 2% during the current (in millions) quarter over the same period 2014. $1,600 $1,451 • Productivity (revenue per truck per week) $1,394 decreased approximately 3% vs. 2014 $1,400 primarily from lower fuel surcharge revenue. $1,231 Productivity excludin
Slide 11: DCS Performance
DCS PerformanceDCS Revenue Growth DCS Operating Income Growth 14% 15% 50% 13% 40% 40% 10% 30% 20% 13% 4% 5% 10% 6% 2% 0% 0% -5% FY13/FY12 FY14/FY13 FY15/FY14 4Q Y/Y -10% FY13/FY12 FY14/FY13 FY15/FY14 4Q Y/Y DCS Average Length of Haul DCS Loads 200 2,500,000 177 175 175 2,250,099 174 2,101,707 2,000,
Slide 12: ICS - Non-Asset Based
ICS - Non-Asset Based ICS Revenue (in millions) • Revenue decreased 4% in the current quarter $750 $718 vs. the fourth quarter 2014 mostly due to a 31% $700 $700 decrease in revenue per load due to lower fuel prices and freight mix changes driven by $650 customer demand. $600 • Load volume increased
Slide 13: ICS Performance
ICS Performance ICS Revenue Growth ICS Operating Income Change 40% 90% 34% 95% 35% 30% 80% 25% 65% 20% 18% 50% 40% 15% 10% 35% 20% 5% 20% 0% 5% -5% -3% -4% -10% -3% -10% FY13/FY12 FY14/FY13 FY15/FY14 4Q Y/Y FY13/FY12 FY14/FY13 FY15/FY14 4Q Y/Y ICS Gross Profit Margin ICS Loads 20% 600,000 542,947 15
Slide 14: JBT - Truckload
JBT - Truckload JBT Revenue (in millions) • Revenue for the current quarter increased 3% $600 from the same period in 2014. • Revenue excluding fuel surcharges increased $504 12% primarily from increased truck count and $484 $500 $479 core customer rate increases of approximately $447 3.7% compared
Slide 15: JBT Performance
JBT Performance JBT Average Length of Haul JBT Average Nonpaid Empty Miles Per Load 500 83 454 82.0 448 433 411 81 400 78.9 78.3 79 77 300 75 200 73 71.8 71 100 69 0 67 2014 2015 4Q 14 4Q 15 2014 2015 4Q 14 4Q 15 JBT Loads JBT Revenue per Tractor per Week 400,000 370,555 $5,000 366,297 $4,068 $4,086
Slide 16: 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
Slide 17: Balance Sheet
Balance Sheet J.B. HUNT TRANSPORT SERVICES, INC. Condensed Consolidated Balance Sheets (in thousands) 17 (unaudited) December 31, 2015 December 31, 2014 ASSETS Current assets: Cash and cash equivalents $ 5,566 $ 5,961 Accounts Receivable 654,542 653,795 Prepaid expenses and other 199,259 201,743 Tot
J.B. Hunt Transport Services — Q4 2015 Earnings Presentation on 6ix