J.b. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.b. Hunt Transport Services — Q4 2020 Earnings Presentation
20 slides from J.b. Hunt Transport Services's earnings presentation, January 2021
Slide 1: J.B. Hunt Q4 2020 Results
J.B. HUNT Q4 2020 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) 4Q 2020 Revenue Mix • Largest, 100% 53’ high-cube container fleet • Largest drayage fleet in North America 5% • Priority loading and unloading at major rail terminals 8% JBI Dedicated Contract Services (DCS) DCS • Fleet creation, conversion, and a
Slide 4: 4Q 2020 Results vs. 4Q 2019
4Q 2020 RESULTS VS. 4Q 2019 OVERVIEW SEGMENT PERFORMANCE 4Q 2020 Revenue: Intermodal (JBI) $2.74 billion; up 12% Revenue: $1.25 billion; down 1% Operating Income: $110.8 million; down 16% 4Q 2020 Revenue, excl FSC: $2.55 billion; up 18% Dedicated Contract Services (DCS) Revenue: $568 million; up 3%
Slide 5: 4Q Results Consolidated
4Q RESULTS CONSOLIDATED Revenue Operating Income (in millions) (in millions) $12,000 $800 $632 $716 $721 $681 $734 $713 $700 $577 $624 $600 $9,637 $500 $10,000 $400 $9,165 $300 $8,615 $205 $208 $200 $8,000 $100 $7,190 $- 2013 2014 2015 2016 2017 2018 2019 2020 4Q 19 4Q 20 $6,555 $6,165 $6,188 $6,000
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 JBI total volumes increased 1% over the same period in 2019. (in millions) Transcontinental loads grew by 1% and eastern network loads were flat compared to the fourth quarter 2019. Volumes in the $5,000 quarter continued to be heavily constrained by rail congestion and
Slide 9: Intermodal (JBI) Performance
INTERMODAL (JBI) PERFORMANCE JBI Revenue Change JBI Operating Income Change 20% 15% 12% 15% 10% 15% 5% 10% 0% -5% -2% 5% -4% 1% -10% 0% -15% -1% -1% -16% -5% -20% FY18/FY17 FY19/FY18 FY20/FY19 4Q Y/Y FY18/FY17 FY19/FY18 FY20/FY19 4Q Y/Y JBI Average Length of Haul JBI Revenue per Load 1,725 $2,500 1,
Slide 10: Dedicated (DCS)
DEDICATED (DCS) DCS Revenue DCS revenue increased 3% during the current quarter over the (in millions) same period 2019. Productivity (revenue per truck per week) increased approximately 1% vs. 2019. Productivity excluding fuel surcharge revenue increased approximately 4% from a $2,400 $2,196 year a
Slide 11: Dedicated (DCS) Performance
DEDICATED (DCS) PERFORMANCE DCS Operating Income Change DCS Revenue Change 19% 50% 20% 42% 40% 15% 30% 10% 20% 13% 5% 3% 3% 10% 4% 0% 0% FY19/FY18 FY20/FY19 4Q Y/Y FY19/FY18 FY20/FY19 4Q Y/Y DCS Loads DCS Revenue Per Truck Per Week 4,000,000 5,500 3,676,212 3,500,000 3,353,553 5,000 4,378 4,481 4,54
Slide 12: Integrated (ICS)
INTEGRATED (ICS) ICS Revenue ICS revenue increased 56% in the current quarter vs. the fourth (in millions) quarter 2019. Revenue growth was driven primarily from a 39% $1,800 increase in revenue per load which was favorably impacted by $1,658 freight mix changes and higher spot and contractual rates
Slide 13: Integrated (ICS) Performance
INTEGRATED (ICS) PERFORMANCE ICS Revenue Change ICS Operating Income/(Loss) 56% (in millions) 60% 50% $10.0 $5.6 40% $0.0 30% 30% ($10.0) 23% ($11.1) ($11.8) 20% ($20.0) 10% ($30.0) 1% 0% ($40.0) ($44.7) -10% ($50.0) FY18/FY17 FY19/FY18 FY20/FY19 4Q Y/Y 2019 2020 4Q 19 4Q 20 ICS Gross Profit Margin
Slide 14: Final Mile Services (FMS)
FINAL MILE SERVICES (FMS)* FMS Revenue (in millions) FMS revenue increased 30% compared to the same period 2019. Stop count within FMS increased 42% during the $688 $700 current quarter vs. a year ago, primarily from the December $650 2019 acquisition and the addition of multiple customer contracts
Slide 15: Final Mile Services (FMS)
FINAL MILE SERVICES (FMS) FMS Revenue Change FMS Operating Income/(Loss) (in millions) 60% 51% $10.0 50% $5.5 $4.9 40% $5.0 30% 30% $0.0 22% 20% ($0.9) ($5.0) 10% 0% ($10.0) ($8.8) FY19/FY18 FY20/FY19 4Q Y/Y 2019 2020 4Q 19 4Q 20 FMS Stops FMS Average Truck 5,771,533 6,000,000 2,000 4,432,591 1,537
Slide 16: Truckload (JBT)
TRUCKLOAD (JBT) JBT Revenue (in millions) JBT revenue increased 50% in the quarter compared to the $550 same period in 2019. Revenue excluding fuel surcharge revenue increased 58% as a result of a 23% increase in $500 load count and a 28% increase in revenue per load $463 excluding fuel surcharge re
Slide 17: Truckload (JBT) Performance
TRUCKLOAD (JBT) PERFORMANCE JBT Average Tractors JBT Average Nonpaid Empty Mile Percentage 2,250 25.0% 1,958 1,875 18.9% 19.2% 2,000 1,837 18.8% 18.4% 1,772 20.0% 1,750 1,500 15.0% 1,250 1,000 10.0% 750 500 5.0% 250 - 0.0% 2019 2020 4Q 19 4Q 20 2019 2020 4Q 19 4Q 20 JBT Loads JBT Revenue per Tractor
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 December 31, 2020 December 31, 2019 ASSETS Current assets: Cash and cash equivalents $ 313,302 $ 35,000 Accounts Receivable 1,124,403 1,011,829 Prepaid expenses and other 423,269 434,470 Total current assets. 1,860,974 1,481,299 Property and equipment 5,908,710 5,640,806 Less accumulat
Slide 20: Thank You
THANK YOU 20
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