J.b. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.b. Hunt Transport Services — Q1 2022 Earnings Presentation
20 slides from J.b. Hunt Transport Services's earnings presentation, 2022
Slide 1: J.B. Hunt Transport Services, Inc. Q1 2022 Results
J.B. HUNT TRANSPORT SERVICES, INC. Q1 2022 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) • Largest, 100% 53’ high-cube container fleet 1Q 2022 Revenue Mix • Largest drayage fleet in North America 6% • Priority loading and unloading at major rail terminals 8% JBI Dedicated Contract Services (DCS) • Fleet creation, conversion, and augme
Slide 4: 1Q 2022 Results vs. 1Q 2021
1Q 2022 RESULTS VS. 1Q 2021 OVERVIEW SEGMENT PERFORMANCE 1Q 2022 Revenue: Intermodal (JBI) $3.49 billion; up 33% Revenue: $1.60 billion; up 36% 1Q 2022 Revenue, excl FSC: Operating Income: $201.0 million; up 87% $3.04 billion; up 27% Dedicated Contract Services (DCS) Revenue: $741 million; up 28% 1Q
Slide 5: 1Q Results Consolidated
1Q RESULTS CONSOLIDATED Revenue Operating Income (in millions) (in millions) $12,168 $1,046 $12,000 $1,000 $734 $800 $632 $716 $721 $681 $713 $624 $9,637 $600 $10,000 $9,165 $400 $334 $8,615 $208 $200 $8,000 $7,190 $- $6,555 2014 2015 2016 2017 2018 2019 2020 2021 1Q 21 1Q 22 $6,165 $6,188 $6,000 Di
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) Intermodal volumes increased 7% over the same period in 2021. Eastern JBI Revenue network loads increased 10%, while transcontinental loads increased 5%. (in millions) Volumes early in the quarter were negatively impacted by network fluidity $6,000 issues attributable to labor chall
Slide 9: Intermodal (JBI) Performance
INTERMODAL (JBI) PERFORMANCE JBI Revenue Change JBI Operating Income Change 87% 36% 90% 35% 70% 25% 50% 17% 41% 15% 30% 12% 5% 10% 1% -1% -10% -4% -5% FY19/FY18 FY20/FY19 FY21/FY20 1Q Y/Y FY19/FY18 FY20/FY19 FY21/FY20 1Q Y/Y JBI Average Length of Haul JBI Revenue per Load $3,200 $3,139 1,700 1,690 1
Slide 10: Dedicated (DCS)
DEDICATED (DCS) DCS Revenue (in millions) $2,578 DCS revenue increased 28% during the current quarter over the $2,600 same period 2021. Productivity (revenue per truck per week) $2,400 increased approximately 6% versus the prior period. Productivity $2,196 $2,128 excluding fuel surcharge revenue was
Slide 11: Dedicated (DCS) Performance
DEDICATED (DCS) PERFORMANCE DCS Revenue Change DCS Operating Income Change 28% 15% 30% 13% 10% 20% 17% 5% 4% 10% 0% 3% 0% -5% -3% FY20/FY19 FY21/FY20 1Q Y/Y FY20/FY19 FY21/FY20 1Q Y/Y DCS Revenue Per Truck Per Week DCS Loads 5,000 4,020,308 4,000,000 4,846 3,676,212 4,719 4,750 3,000,000 4,576 4,500
Slide 12: Integrated (ICS)
INTEGRATED (ICS) ICS Revenue (in millions) ICS revenue increased 29% in the current quarter versus the $2,538 first quarter 2021. Overall segment volumes increased 12% with truckload volumes increasing 15% versus the prior year $2,400 period. Revenue per load increased 14% compared to the first $2,2
Slide 13: Integrated (ICS) Performance
INTEGRATED (ICS) PERFORMANCE ICS Revenue Change ICS Operating Income/(Loss) 60% (in millions) 53% 50% $60.0 $46.3 40% $40.0 29% $25.0 30% $20.0 23% $7.3 20% $0.0 10% ($20.0) 1% ($40.0) 0% FY19/FY18 FY20/FY19 FY21/FY20 1Q Y/Y ($44.7) ($60.0) 2020 2021 1Q 21 1Q 22 ICS Gross Profit Margin ICS Loads 15%
Slide 14: Truckload (JBT)
TRUCKLOAD (JBT) JBT Revenue (in millions) JBT revenue increased 77% as compared to the same period in the $800 $796 previous year. Revenue excluding fuel surcharge revenue increased 72% primarily due to increased load volume and higher revenue per $750 load excluding fuel surcharge revenue. Volume f
Slide 15: Truckload (JBT) Performance
TRUCKLOAD (JBT) PERFORMANCE JBT Average Trailers JBT Average Length of Haul 14,000 600 12,000 11,456 482 492 500 446 10,000 420 9,299 8,571 7,866 400 8,000 6,824 6,000 300 4,000 200 2,000 100 - 2019 2020 2021 1Q 21 1Q 22 - 2020 2021 1Q 21 1Q 22 JBT Loads JBT Revenue per Load 500,000 445,812 $3,000 4
Slide 16: Final Mile Services (FMS)
FINAL MILE SERVICES (FMS)* FMS Revenue (in millions) $842 FMS revenue increased 8% compared to the same period 2021 $800 driven by the addition of multiple customer contracts implemented over the last year and complemented by the previously announced $689 $700 acquisition of Zenith Freight Lines tha
Slide 17: Final Mile Services (FMS)
FINAL MILE SERVICES (FMS) FMS Operating Income/(Loss) FMS Revenue Change (in millions) 30% $27.9 22% 22% $25.0 20% $20.0 $15.0 $8.5 8% $10.0 10% $5.0 $0.0 ($0.9) ($0.2) 0% ($5.0) FY20/FY19 FY21/FY20 1Q Y/Y 2020 2021 1Q 21 1Q 22 FMS Average Trucks FMS Stops 2,000 6,413,680 5,771,533 1,800 6,000,000 1
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 March 31, 2022 December 31, 2021 ASSETS Current assets: Cash and cash equivalents $ 144,529 $ 355,549 Accounts receivable, net 1,745,647 1,506,619 Prepaid expenses and other 364,977 451,201 Total current assets 2,255,153 2,313,369 Property and equipment 6,950,327 6,680,316 Less accumul
Slide 20: Thank You
THANK YOU [=a |}
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