J.b. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.b. Hunt Transport Services — Q4 2021 Earnings Presentation
20 slides from J.b. Hunt Transport Services's earnings presentation, January 2022
Slide 1: J.B. Hunt Transport Services, Inc. Q4 2021 Results
J.B. HUNT TRANSPORT SERVICES, INC. Q4 2021 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 4Q 2021 Revenue Mix • Largest drayage fleet in North America • Priority loading and unloading at major rail terminals 8% 6% Dedicated Contract Services (DCS) JBI • Fleet creation, conversion, and augme
Slide 4: 4Q 2021 Results vs. 4Q 2020
4Q 2021 RESULTS VS. 4Q 2020 OVERVIEW SEGMENT PERFORMANCE 4Q 2021 Revenue: Intermodal (JBI) $3.5 billion; up 28% Revenue: $1.57 billion; up 26% Operating Income: $195.3 million; up 76% 4Q 2021 Revenue, excl FSC: $3.1 billion; up 22% Dedicated Contract Services (DCS) Revenue: $712 million; up 25% 4Q 2
Slide 5: 4Q Results Consolidated
4Q RESULTS CONSOLIDATED Revenue Operating Income (in millions) (in millions) $12,168 $1,046 $12,000 $1,000 $716 $734 $713 $800 $632 $721 $681 $624 $9,637 $600 $10,000 $9,165 $323 $400 $8,615 $208 $200 $8,000 $7,190 $- $6,555 2014 2015 2016 2017 2018 2019 2020 2021 4Q 20 4Q 21 $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) JBI Revenue (in millions) Intermodal volumes declined 3% over the same period $5,454 in 2020. Eastern network loads increased 1%, while transcontinental loads declined 5% compared to the fourth quarter $5,000 2020. While demand for intermodal capacity remains strong, $4,717 $4,745 $
Slide 9: Intermodal (JBI) Performance
INTERMODAL (JBI) PERFORMANCE JBI Revenue Change JBI Operating Income Change 26% 76% 25% 70% 20% 60% 17% 50% 15% 41% 40% 10% 30% 20% 12% 5% 1% 10% 0% 0% -1% -4% -5% -10% FY19/FY18 FY20/FY19 FY21/FY20 4Q Y/Y FY19/FY18 FY20/FY19 FY21/FY20 4Q Y/Y JBI Average Length of Haul JBI Revenue per Load $3,091 1,
Slide 10: Dedicated (DCS)
DEDICATED (DCS) DCS Revenue (in millions) $2,578 DCS revenue increased 25% during the current quarter over the same period 2020. Productivity (revenue per truck per week) increased $2,400 approximately 7% versus the prior period. Productivity excluding fuel $2,196 $2,200 $2,128 surcharge revenue inc
Slide 11: Dedicated (DCS) Performance
DEDICATED (DCS) PERFORMANCE DCS Revenue Change DCS Operating Income Change 30% 50% 25% 42% 25% 40% 20% 30% 17% 15% 20% 13% 10% 10% 3% 5% 0% 0% -3% -6% -10% FY20/FY19 FY21/FY20 4Q Y/Y FY19/FY18 FY20/FY19 FY21/FY20 4Q Y/Y DCS Revenue Per Truck Per Week DCS Loads 5,000 4,020,308 4,879 4,000,000 3,676,2
Slide 12: Integrated (ICS)
INTEGRATED (ICS) ICS revenue increased 26% in the current quarter versus the ICS Revenue fourth quarter 2020. Revenue growth was primarily driven by a (in millions) $2,538 27% increase in revenue per load resulting from changes in customer freight mix and higher contractual and spot rates in $2,400
Slide 13: Integrated (ICS) Performance
INTEGRATED (ICS) PERFORMANCE ICS Revenue Change ICS Operating Income/(Loss) 60% (in millions) 53% 50% $46.3 $50.0 40% $30.0 30% $21.2 23% 26% $5.6 $10.0 20% ($10.0) 10% 1% ($30.0) 0% FY19/FY18 FY20/FY19 FY21/FY20 4Q Y/Y ($50.0) ($44.7) 2020 2021 4Q 20 4Q 21 ICS Gross Profit Margin ICS Loads 15% 1,32
Slide 14: Final Mile Services (FMS)
FINAL MILE SERVICES (FMS)* FMS Revenue (in millions) $842 FMS revenue increased 4% compared to the same period 2020. Stop $800 count within FMS decreased 22% during the current quarter versus a year ago. The addition of multiple customer contracts implemented $689 $700 over the last year were more t
Slide 15: 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 $10.0 $7.4 10% $5.5 $5.0 4% $0.0 ($0.9) 0% ($5.0) FY20/FY19 FY21/FY20 4Q Y/Y 2020 2021 4Q 20 4Q 21 FMS Stops FMS Average Trucks 6,413,680 2,000 5,771,533 1,800 6,000,000 1,5
Slide 16: Truckload (JBT)
TRUCKLOAD (JBT) JBT revenue increased 85% from the same period in 2020. Revenue excluding fuel surcharge revenue increased 79%, primarily from a 55% JBT Revenue increase in revenue per load excluding fuel surcharge revenue and a (in millions) 15% increase in load count compared to a year ago. The in
Slide 17: Truckload (JBT) Performance
TRUCKLOAD (JBT) PERFORMANCE JBT Average Nonpaid Empty Mile JBT Average Tractors Percentage 2,500 25.0% 2,168 1,837 1,899 20.1% 2,000 18.8% 19.4% 18.4% 1,772 20.0% 1,500 15.0% 1,000 10.0% 500 5.0% - 2020 2021 4Q 20 4Q 21 0.0% 2020 2021 4Q 20 4Q 21 JBT Loads JBT Revenue per Tractor per Week 500,000 44
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 December 31, 2021 December 31, 2020 TSSETS Current assets: Cash and cash equivalents $ 355,549 $ 313,302 Accounts Receivable 1,503,379 1,124,403 Prepaid expenses and other 444,915 404,412 Total current assets 2,303,843 1,842,117 Property and equipment 6,680,316 5,908,710 Less accumulat
Slide 20: Thank You
THANK YOU [Seas]
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