J.b. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.b. Hunt Transport Services — Q2 2021 Earnings Presentation
20 slides from J.b. Hunt Transport Services's earnings presentation, Jul 19, 2021
Slide 1: J.B. Hunt Q2 2021 Results
J.B. HUNT Q2 2021 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) • Largest, 100% 53’ high-cube container fleet • Largest drayage fleet in North America 2Q 2021 Revenue Mix • Priority loading and unloading at major rail terminals 6% 7% Dedicated Contract Services (DCS) JBI • Fleet creation, conversion, and augme
Slide 4: 2Q 2021 Results vs. 2Q 2020
2Q 2021 RESULTS VS. 2Q 2020 OVERVIEW SEGMENT PERFORMANCE 2Q 2021 Revenue: Intermodal (JBI) $2.91 billion; up 36% Revenue: $1.29 billion; up 21% Operating Income: $134.6 million; up 26% 2Q 2021 Revenue, excl FSC: $2.61 billion; up 31% Dedicated Contract Services (DCS) Revenue: $621 million; up 17% 2Q
Slide 5: 2Q Results Consolidated
2Q RESULTS CONSOLIDATED Operating Income Revenue (in millions) (in millions) $800 $716 $721 $734 $713 $12,000 $632 $681 $700 $577 $624 $600 $9,637 $500 $10,000 $9,165 $400 $8,615 $242 $300 $175 $200 $8,000 $7,190 $100 $6,165 $6,188 $6,555 $- 2013 2014 2015 2016 2017 2018 2019 2020 2Q 20 2Q 21 $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 load volumes increased 6% over the same period in 2020. (in millions) Eastern network volumes increased 9% and transcontinental volumes increased 3% from second quarter 2020. Demand for $5,000 $4,717 $4,745 $4,675 intermodal service remains robust, however, significa
Slide 9: Intermodal (JBI) Performance
INTERMODAL (JBI) PERFORMANCE JBI Revenue Change JBI Operating Income Change 25% 21% 30% 26% 20% 25% 15% 20% 15% 15% 12% 10% 10% 5% 5% 1% 0% 0% -5% -2% -4% -1% -10% -5% FY18/FY17 FY19/FY18 FY20/FY19 2Q Y/Y FY18/FY17 FY19/FY18 FY20/FY19 2Q Y/Y JBI Average Length of Haul JBI Revenue per Load 1,700 $2,5
Slide 10: Dedicated (DCS)
DEDICATED (DCS) DCS Revenue DCS revenue increased 17% during the current quarter over the (in millions) same period in 2020. Productivity, defined as revenue per truck per week, increased approximately 11% vs. 2020. Productivity $2,400 excluding fuel surcharge revenue increased 7% from a year ago $2
Slide 11: Dedicated (DCS) Performance
DEDICATED (DCS) PERFORMANCE DCS Revenue Change DCS Operating Income Change 19% 20% 50% 17% 42% 40% 15% 30% 10% 20% 13% 10% 5% 3% 0% 0% -5% FY19/FY18 FY20/FY19 2Q Y/Y -10% FY19/FY18 FY20/FY19 2Q Y/Y DCS Revenue Per Truck Per Week 6,000 DCS Loads 5,000 4,707 3,676,212 4,378 4,373 4,000,000 4,250 3,353
Slide 12: Integrated (ICS)
INTEGRATED (ICS) ICS Revenue ICS revenue increased 100% during the current quarter vs. the (in millions) second quarter 2020. Segment volumes increased 20% during the quarter with truckload volumes increasing 30% from the prior $1,800 $1,658 year period. Revenue per load increased 66%. In addition t
Slide 13: Integrated (ICS) Performance
INTEGRATED (ICS) PERFORMANCE ICS Revenue Change ICS Operating Income/(Loss) 100% (in millions) 100% 90% $5.0 $3.1 80% $0.0 ($5.0) 70% ($10.0) 60% ($15.0) ($11.1) 50% ($20.0) ($13.1) 40% ($25.0) 30% ($30.0) 30% 23% ($35.0) 20% ($40.0) 10% ($45.0) 1% ($44.7) 0% ($50.0) FY18/FY17 FY19/FY18 FY20/FY19 2Q
Slide 14: Final Mile Services (FMS)
FINAL MILE SERVICES (FMS)* FMS Revenue FMS revenue increased 52% compared to the same period 2020. (in millions) Stop count within FMS increased 59% during the current quarter vs. $689 a year ago, primarily from the addition of multiple customer $700 contracts implemented over the last year. Additio
Slide 15: Final Mile Services (FMS)
FINAL MILE SERVICES (FMS) FMS Operating Income/(Loss) FMS Revenue Change (in millions) $12.0 $10.7 60% 51% 52% $10.0 50% $8.0 $6.0 40% $4.0 30% $2.0 22% $0.0 ($0.9) 20% ($2.0) 10% ($4.0) ($6.0) ($5.2) 0% ($8.0) FY19/FY18 FY20/FY19 2Q Y/Y ($10.0) ($8.8) 2019 2020 2Q 20 2Q 21 FMS Stops FMS Average Tru
Slide 16: Truckload (JBT)
TRUCKLOAD (JBT) JBT revenue increased 70% from the same period in 2020. JBT Revenue Revenue excluding fuel surcharge revenue increased 66% (in millions) primarily from a 58% increase in revenue per load excluding fuel $550 surcharge revenue and a 5% increase in load count compared to a year ago. The
Slide 17: Truckload (JBT) Performance
TRUCKLOAD (JBT) PERFORMANCE JBT Average Nonpaid Empty Mile JBT Average Tractors 25.0% 19.1% 19.6% 2,500 18.9% 18.8% 20.0% 1,958 1,837 1,979 2,000 1,772 15.0% 1,500 10.0% 1,000 5.0% 500 2019 2020 2Q 20 2Q 21 0.0% 2019 2020 2Q 20 2Q 21 JBT Loads JBT Revenue per Tractor per Week 500,000 $4,714 $5,000 4
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 June 30, 2021 December 31, 2020 ASSETS Current assets: Cash and cash equivalents $ 570,918 $ 313,302 Accounts Receivable, net 1,293,924 1,124,403 Prepaid expenses and other 344,457 404,412 Total current assets 2,209,299 1,842,117 Property and equipment 6,108,195 5,908,710 Less accumula
Slide 20: Thank You
THANK YOU 20
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