J.B. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.B. Hunt Transport Services — Q1 2016 Earnings Presentation
17 slides from J.B. Hunt Transport Services's earnings presentation, 2016
Slide 1: J.B. Hunt Transport Services, Inc. Q1 2016 Results
J.B. Hunt Transport Services, Inc. Q1 2016 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) 1Q 2016 Revenue Mix 6% • Largest, 100% 53’ high-cube container fleet • Largest drayage fleet in North America 12% • Priority loading and unloading at major rail JBI terminals DCS ICS • Dedicated Contract Services (DCS) JBT • Fleet creation, conver
Slide 4: 1Q 2016 Results vs. 1Q 2015
1Q 2016 Results vs. 1Q 2015 • 1Q 2016 Revenue: $1.53 billion; up 6% • 1Q 2016 Revenue, excl FSC: $1.43 billion; up 13% • 1Q 2016 Operating Income: $168 million; up 8% • 1Q 2016 EPS: $0.88 vs. $0.78; up 13% • Segment Performance • Intermodal (JBI) • Revenue: $895 million; up 6% • Operating Income: $1
Slide 5: 1Q 2016 Results - Consolidated
1Q 2016 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 $248 $300 $5,055 $168 $5,000 $200 $155 $4,527 $100 $- 2009 2010 2011 2012 2013 2014 2015 1Q 15 1Q 16 $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) • Load volumes grew 12% over the same period $4,000 2015. $3,687 $3,665 • Eastern network realized load growth of 13% and $3,456 $3,500 Transcontinental loads grew 11% compared to prior year as the west coast port volumes $3,071 $3,000 returned to a more no
Slide 9: JBI Performance
JBI Performance JBI Revenue Growth JBI Operating Income Growth 15% 25% 13% 19% 7% 15% 6% 5% 4% 5% 3% -1% -1% -5% -5% FY13/FY12 FY14/FY13 FY15/FY14 1Q Y/Y FY13/FY12 FY14/FY13 FY15/FY14 1Q Y/Y JBI Average Length of Haul JBI Revenue per Load 1,660 $2,200 1,656 $2,169 1,655 1,652 $2,100 $2,067 1,650 $2,
Slide 10: DCS - Dedicated
DCS - Dedicated DCS Revenue (in millions) • Revenue increased 4% during the current $1,600 quarter over the same period 2015. $1,451 $1,394 • Productivity excluding fuel surcharges was up $1,400 approximately 3% from improved overall $1,231 operational efficiencies including better $1,200 integratio
Slide 11: DCS Performance
DCS Performance DCS Revenue Growth DCS Operating Income Growth 14% 50% 15% 13% 40% 40% 10% 30% 25% 20% 4% 4% 5% 6% 10% 0% 0% -5% FY13/FY12 FY14/FY13 FY15/FY14 1Q Y/Y -10% FY13/FY12 FY14/FY13 FY15/FY14 1Q Y/Y DCS Average Length of Haul DCS Loads 200 2,500,000 177 175 175 175 2,250,099 2,101,707 2,000
Slide 12: ICS - Non-Asset Based
ICS - Non-Asset Based ICS Revenue (in millions) $750 • Revenue increased 12% vs. first quarter 2015. $718 $700 $700 • Volumes increased 45% while revenue per load decreased 23% primarily due to lower fuel $650 prices and freight mix changes driven by $600 customer demand. $550 $537 • Operating incom
Slide 13: ICS Performance
ICS Performance ICS Operating Income Change ICS Revenue Growth 90% 40% 95% 35% 34% 80% 30% 63% 65% 25% 20% 18% 50% 12% 15% 35% 20% 10% 20% 5% 5% 0% -3% -3% -5% -10% FY13/FY12 FY14/FY13 FY15/FY14 1Q Y/Y FY13/FY12 FY14/FY13 FY15/FY14 1Q Y/Y ICS Gross Profit Margin ICS Loads 20% 600,000 17.3% 542,947 1
Slide 14: JBT - Truckload
JBT - Truckload JBT Revenue (in millions) • Revenue increased 5% from the same quarter $600 2015. • Revenue excluding fuel surcharge increased $504 12% primarily from a 12% increase in fleet $500 $479 $484 count. $447 • Rates per loaded mile excluding fuel surcharges $391 $386 $386 were down 1.7% pr
Slide 15: JBT Performance
JBT Performance JBT Average Length of Haul JBT Average Nonpaid Empty Miles Per Load 500 88 448 450 468 85.4 411 86 83.9 400 84 82 300 79.1 80 78 200 76 73.7 100 74 72 0 70 2014 2015 1Q 15 1Q 16 2014 2015 1Q 15 1Q 16 JBT Loads JBT Revenue per Tractor per Week 400,000 $5,000 370,555 366,297 $4,068 $3,
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) March 31, 2016 December 31, 2015 ASSETS Current assets: Cash and cash equivalents $ 5,992 $ 5,566 Accounts Receivable 690,352 654,542 Prepaid expenses and other 119,897 199,259 Total cur
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