J.B. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.B. Hunt Transport Services — Q3 2015 Earnings Presentation
17 slides from J.B. Hunt Transport Services's earnings presentation, 2015
Slide 1: J.B. Hunt Transport Services, Inc. 3Q 2015 Results
J.B. Hunt Transport Services, Inc. 3Q 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) 3Q 2015 Revenue Mix 6% • Largest, 100% 53’ high-cube container fleet • Largest drayage fleet in North America 11% JBI • Priority loading and unloading at major rail DCS terminals ICS JBT • Dedicated Contract Services (DCS) 23% • Fleet creation, co
Slide 4: 3Q 2015 Results vs. 3Q 2014
3Q 2015 Results vs. 3Q 2014 • 3Q 2015 Revenue: $1.59 billion; down 1% • 3Q 2015 Revenue, excl FSC: $1.42 billion; up 8% • 3Q 2015 Operating Income: $194 million; up 13% • 3Q 2015 EPS: $0.99 vs. $0.87 • Segment Performance • Intermodal (JBI) • Revenue: $949 million; down 2% • Operating Income: $126.1
Slide 5: 3Q 2015 Results - Consolidated
3Q 2015 Results - Consolidated Revenue Operating Income (in millions) (in millions) $7,000 $700 $632 $600 $577 $530 $6,165 $500 $444 $6,000 $358 $5,585 $400 $348 $300 $248 $5,055 $172 $194 $5,000 $200 $4,527 $100 $- $3,793 $4,000 2008 2009 2010 2011 2012 2013 2014 3Q 14 3Q 15 $3,732 $3,203 Diluted E
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) • Overall volumes increased 3% over the same $3,687 period in 2014. $3,500 $3,456 • The Eastern network load growth slowed to 1% and Transcontinental loads grew 4% over the $3,071 third quarter 2014 as eastern network loads $3,000 were challenged with recov
Slide 9: JBI Performance
JBI Performance JBI Revenue Growth JBI Operating Income Growth 30% 15% 24% 15% 13% 20% 19% 7% 5% 10% 3% -2% 1% -5% 0% FY12/FY11 FY13/FY12 FY14/FY13 3Q Y/Y FY12/FY11 FY13/FY12 FY14/FY13 3Q Y/Y JBI Average Length of Haul JBI Revenue per Load 1,700 1,694 1,690 $2,200 $2,169 $2,169 1,680 $2,163 1,670 $2
Slide 10: DCS - Dedicated
DCS - Dedicated DCS Revenue (in millions) • Revenue increased 3% during the current $1,600 quarter over the same period in 2014. • Productivity excluding fuel surcharge revenue $1,394 $1,400 increased approximately 1.8% from a year ago $1,231 primarily from customer rate increases and $1,200 increas
Slide 11: DCS Performance
DCS Performance DCS Operating Income Growth DCS Revenue Growth 15% 40% 14% 13% 32% 30% 10% 20% 13% 5% 10% 6% 5% 3% 0% -5% 0% -10% FY12/FY11 FY13/FY12 FY14/FY13 3Q Y/Y FY12/FY11 FY13/FY12 FY14/FY13 3Q Y/Y DCS Average Length of Haul DCS Loads 190 200 2,500,000 177 176 174 2,101,707 1,835,872 2,000,000
Slide 12: ICS - Non-Asset Based
ICS - Non-Asset Based ICS Revenue (in millions) • Revenue decreased 7% in the current quarter $750 vs. the third quarter 2014. $718 $700 • Load volume increased 9% while revenue per load decreased 14% due to lower fuel prices $650 and freight mix changes driven by customer $600 demand including less
Slide 13: ICS Performance
ICS Performance ICS Revenue Growth ICS Operating Income Change 40% 90% 34% 90% 35% 30% 28% 70% 25% 18% 20% 50% 15% 36% 10% 30% 23% 5% 0% 10% -5% -7% -3% -10% -10% FY12/FY11 FY13/FY12 FY14/FY13 3Q Y/Y FY12/FY11 FY13/FY12 FY14/FY13 3Q Y/Y ICS Loads ICS Gross Profit Margin 500,000 20% 453,410 15.9% 400
Slide 14: JBT - Truckload
JBT - Truckload JBT Revenue (in millions) • Revenue for the current quarter increased 2% $800 from the same period in 2014. • Revenue excluding fuel surcharge increased 10%, primarily from increased truck count and $676 core rate increases of approximately 4.5%, but was partially offset by lower ass
Slide 15: JBT Performance
JBT Performance JBT Average Length of Haul JBT Average Nonpaid Empty Miles Per Load 83 500 454 431 419 81 80.9 411 400 79 77 300 75 73.3 73.6 200 73 71.8 71 100 69 0 67 2013 2014 3Q 14 3Q 15 2013 2014 3Q 14 3Q 15 JBT Loads JBT Revenue per Tractor per Week 500,000 $5,000 386,875 $4,068 $4,109 370,555
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) (unaudited) September 30, 2015 December 31, 2014 ASSETS Current assets: Cash and cash equivalents $ 5,542 $ 5,961 Accounts Receivable 671,398 653,795 Prepaid expenses and other 72,600 201,743 Deferr
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