J.b. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.b. Hunt Transport Services — Q4 2023 Earnings Presentation
19 slides from J.b. Hunt Transport Services's earnings presentation, January 2024
Slide 1: J.B. Hunt Transport Services, Inc. Q4 2023 Results
J.B. Hunt Transport Services, Inc. Q4 2023 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 6% Intermodal (JBI) 4Q 2023 Revenue Mix 7% • Largest, 100% 53’ high-cube container fleet • Largest drayage fleet in North America • Priority loading and unloading at major rail terminals 11% Dedicated Contract Services® (DCS®) 49% • Fleet creation, conversion, and
Slide 4: 4Q 2023 Results vs. 4Q 2022
4Q 2023 Results vs. 4Q 2022 Overview Segment Performance 4Q 2023 Revenue: Intermodal (JBI) $3.30 billion; down 9% Revenue: $1.62 billion; down 7% Operating Income: $129.9 million; down 28% 4Q 2023 Revenue, excl FSC: $2.84 billion; down 6% Dedicated Contract Services (DCS) Revenue: $884 million; down
Slide 5: 4Q Results Consolidated
4Q Results Consolidated Operating Income (in millions) Revenue (in millions) $14,814 $1,400 $1,332 $1,200 $14,000 $1,046 $993 $1,000 $12,830 $12,168 $800 $716 $721 $681 $734 $713 $12,000 $577 $632 $624 $600 $400 $282 $203 $10,000 $9,637 $200 $9,165 $- $8,615 2013 2014 2015 2016 2017 2018 2019 2020 2
Slide 6: Segment Discussion
Segment Discussion
Slide 7: Intermodal (JBI)
Intermodal (JBI) Intermodal volume increased 6% over the same period in 2022. JBI Revenue (in millions) Transcontinental network loads increased 13%, while eastern network loads decreased 2% compared to the fourth quarter $7,022 2022. Year-over-year demand trends for our intermodal service $7,000 im
Slide 8: Intermodal (JBI) Performance
Intermodal (JBI) Performance JBI Revenue Change JBI Operating Income Change 60% 40% 29% 41% 30% 40% 33% 20% 17% 20% 12% 10% 1% 0% 0% -4% -1% -20% -10% -7% -12% -29% -28% -20% -40% FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 4Q Y/Y FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 4Q Y/Y JBI Av
Slide 9: Dedicated Contract Services (DCS)
Dedicated Contract Services® (DCS®) DCS Revenue (in millions) DCS revenue decreased 3% during the current quarter over the same period 2022, driven by a 2% decline in average $3,524 $3,543 trucks combined with a modest decline in productivity $3,500 (revenue per truck per week). Productivity, exclud
Slide 10: Dedicated Contract Services (DCS)
Dedicated Contract Services® (DCS®) DCS Revenue Change DCS Operating Income Change 40% 50% 42% 30% 40% 30% 23% 19% 30% 20% 20% 15% 13% 12% 10% 3% 8% 10% 1% 0% 0% 0% -3% -10% -10% FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 4Q Y/Y FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 4Q Y/Y DCS Rev
Slide 11: Integrated Capacity Solutions (ICS)
Integrated Capacity Solutions (ICS) ICS revenue decreased 25% in the current quarter versus the ICS Revenue (in millions) fourth quarter 2022. Overall segment volume decreased 12% versus the prior-year period. Revenue per load decreased $2,471 15% compared to the fourth quarter 2022 due to lower $2,
Slide 12: Integrated Capacity Solutions (ICS)
Integrated Capacity Solutions (ICS) ICS Revenue Change ICS Operating Income/(Loss) (in millions) 60% $57.6 49% $60.0 40% $39.9 $40.0 23% 20% $20.0 1% 0% $0.0 -6% -$3.2 -20% ($20.0) -$11.1 -25% -$24.9 -40% ($40.0) -40% -$44.7 -$44.1 -60% ($60.0) FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 4Q Y/
Slide 13: Final Mile Services (FMS)
Final Mile Services® (FMS) FMS Revenue (in millions) FMS revenue declined 9% compared to the same period 2022. The decline was primarily driven by general weakness in demand across many of the end markets served, in addition $1,042 to efforts to improve the overall business portfolio. The $1,000 dec
Slide 14: Final Mile Services (FMS)
Final Mile Services® (FMS) FMS Revenue Change FMS Operating Income/(Loss) (in millions) $46.7 60% 51% $45.0 50% $34.3 $36.6 40% $35.0 32% 30% 22% $25.0 20% 15% $13.0 $12.3 $15.0 10% $5.0 0% -10% -$5.0 -$0.9 -12% -9% -20% -$15.0 -$8.8 FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 4Q Y/Y 2019 2020
Slide 15: Truckload (JBT)
Truckload (JBT) JBT Revenue (in millions) JBT revenue decreased 19% compared to the same period in the previous year. Revenue excluding fuel surcharge revenue decreased 19% primarily due to a 13% decline in revenue per $1,200 load excluding fuel surcharge revenue and a 7% decline in load volume, par
Slide 16: Truckload (JBT)
Truckload (JBT) JBT Average Effective Trailing Equipment JBT Average Length of Haul 16,000 700 663 652 13,000 12,897 570 585 12,420 600 548 12,000 10,611 500 420 415 7,844 400 8,000 7,321 6,497 300 200 4,000 100 - - 2019 2020 2021 2022 2023 4Q 22 4Q 23 2019 2020 2021 2022 2023 4Q 22 4Q 23 JBT Loads
Slide 17: 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 18: Balance Sheet
Balance Sheet J.B. HUNT TRANSPORT SERVICES, INC. Condensed Consolidated Balance Sheets (in thousands) (unaudited) December 31, 2023 December 31, 2022 ASSETS ‘Current assets: Cash and cash equivalents $ 53,344 $ 51,927 Accounts Receivable, net 1,334,912 1,528,075 Prepaid expenses and other 711,327 63
Slide 19: Thank You
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