J.B. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.B. Hunt Transport Services — Q1 2012 Earnings Presentation
18 slides from J.B. Hunt Transport Services's earnings presentation, April 2012
Slide 1: J.B. Hunt Transport Services, Inc. 1Q 2012 Results
What’s your next move?™ J.B. Hunt Transport Services, Inc. 1Q 2012 Results SINGLE SOURCE • INTERMODAL • DEDICATED • FINAL MILE • TRUCKLOAD • LESS THAN TRUCKLOAD • REFRIGERATED • FLATBED • EXPEDITED
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 4 Intermodal (JBI) 1Q 2012 Revenue Mix h Largest, 100% 53’ high-cube container fleet 8% h Largest drayage fleet in North America 11% JBI DCS h Priority loading and unloading at major rail JBT terminals ICS 4 Dedicated Contract Services (DCS) h Fleet creation, conver
Slide 4: 1Q 2012 Results vs. 1Q 2011
1Q 2012 Results vs. 1Q 2011 4 1Q 2012 Revenue: $1.17 billion; up 17% 4 1Q 2012 Revenue excluding FSC: $939 million; up 13% 4 1Q 2012 Operating Income: $117 million; up 30% 4 1Q 2012 EPS: $0.57 vs. $0.40 4 Segment Performance • Intermodal (JBI) 4 Revenue: $694 million; up 20% 4 Operating Income: $79.
Slide 5: 1Q 2012 Results – Consolidated
1Q 2012 Results – Consolidated Revenue Operating Income (in millions) (in millions) $5,000 $500 $444 $450 $4,527 $373 $369 $400 $358 $4,500 $348 $350 $300 $248 $4,000 $250 $3,732 $3,793 $200 $117 $3,490 $150 $3,500 $3,328 $90 $100 $3,203 $50 $3,000 $- 2006 2007 2008 2009 2010 2011 1Q 11 1Q 12 Dilute
Slide 6: Key Points
Key Points 4Industry leading Intermodal franchise 4Differentiated & specialized Dedicated business 4Independent brokerage/management services 4Lighter Truckload asset model What’s your next move?™ | 6
Slide 7: Segment Discussion
What’s your next move?™ J.B. Hunt Transport Services, Inc. Segment Discussion SINGLE SOURCE • INTERMODAL • DEDICATED • FINAL MILE • TRUCKLOAD • LESS THAN TRUCKLOAD • REFRIGERATED • FLATBED • EXPEDITED
Slide 8: JBI - Intermodal
JBI - Intermodal JBI Revenue (in millions) 4 Revenue increased by 20% in 1Q $3,000 $2,673 4 Load volume grew by 16%, driven by $2,500 steady demand $2,141 $1,952 4 Eastern network grew by 28% and $2,000 $1,764 transcontinental growth showed a 9% $1,653 improvement $1,430 $1,500 4 Pricing in 1Q poste
Slide 9: JBI Performance
JBI Performance JBI Revenue Growth JBI Operating Income Growth 26% 40% 25% 25% 29% 24% 30% 27% 27% 23% 20% 22% 21% 21% 20% 10% 20% 19% 0% FY10/FY09 FY11/FY10 1Q Y/Y FY10/FY09 FY11/FY10 1Q Y/Y JBI Average Length of Haul JBI Revenue per Load 1,800 $2,200 $2,189 1,782 $2,141 1,775 $2,100 $2,059 $2,065
Slide 10: DCS - Dedicated
DCS - Dedicated DCS Revenue (in millions) 4 Revenue increased 7% compared to $1,200 1Q 2011 $1,031 4 New accounts provided a net $1,000 $915 $937 $927 additional 149 revenue-producing $907 trucks $800 $757 4 Operating income increased 51% compared to 1Q 2011 $600 4 Operating income increase primaril
Slide 11: DCS Performance
DCS Performance DCS Revenue Growth DCS Operating Income Growth 25% 60% 51% 20% 50% 20% 14% 40% 15% 31% 30% 25% 10% 7% 20% 5% 10% 0% 0% FY10/FY09 FY11/FY10 1Q Y/Y FY10/FY09 FY11/FY10 1Q Y/Y DCS Average Length of Haul DCS Loads 250 400,000 355,047 345,653 351,187 210 208 354,711 197 201 200 300,000 15
Slide 12: Final Mile Delivery
Final Mile Delivery 4 15 years experience in Final Mile Delivery h Channel revenue retention >88% 4 Crossdock Service Centers h Currently operating 88 h Capacity: > 2 million annual deliveries h Reach: 98% U.S. population within 150 miles 4 Commercial and Residential h Restaurants, Agriculture, Home
Slide 13: JBT – Truckload
JBT – Truckload JBT Revenue (in millions) 4 Revenue increased 4 % year-over-year, $1,000 $966 excluding fuel surcharges. $842 4 Rate per loaded mile, excluding FSC, $800 increased 2.1% over 1Q 2011. $676 4 Rates from consistent shippers improved by 2.6% YOY. $600 4 Operating income decreased 16% $50
Slide 14: JBT Performance
JBT Performance JBT Average Length of Haul JBT Average Nonpaid Empty Miles Per Load 600 73.8 533 75.0 498 70.1 500 400 50.0 300 200 25.0 100 - 0.0 1Q 11 1Q 12 1Q 11 1Q 12 JBT Loads JBT Revenue per Tractor per Week 125,000 116,904 $5,000 109,923 113,893 106,263 100,000 $3,960 $3,822 $4,000 $3,672 $3,
Slide 15: ICS – Non-Asset Based
ICS – Non-Asset Based ICS Revenue (in millions) 4 Revenue increased 30% vs. 1Q 2011 $400 due to a 14% increase in load $356 $350 volume, higher fuel costs and higher pricing in transactional business $291 $300 $259 4 Operating income increased 58% over $250 1Q 2011 due to increased revenue, $209 imp
Slide 16: ICS Performance
ICS Performance ICS Revenue Growth ICS Operating Income Change 35% 75% 30% 58% 30% 50% 25% 41% 22% 20% 25% 15% 12% 0% 10% FY10/FY09 FY11/FY10 1Q/YY 5% -25% -29% 0% FY10/FY09 FY11/FY10 1Q Y/Y -50% ICS Gross Profit Margin ICS Loads 14.7% 14.3% 68,138 15.0% 70,000 59,813 60,000 50,000 10.0% 40,000 30,0
Slide 17: Summary
Summary 4 Competitively differentiated h Unique intermodal network h Distinct advantages in dedicated segments h Network economics and brand strength to penetrate new markets 4 Complemented by industry dynamics h Shippers need to reduce costs h Shippers demand on-time service h Increasingly complex
Slide 18: Balance Sheet
Balance Sheet J.B. HUNT TRANSPORT SERVICES, INC. Condensed Consolidated Balance Sheets (in thousands) (unaudited) March 31, 2012 December 31, 2011 ASSETS Current assets: Cash and cash equivalents $ 5,713 $ 5,450 Accounts Receivable 447,706 411,479 Prepaid expenses and other 82,667 96,613 Total curre
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