J.b. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.b. Hunt Transport Services — Q1 2021 Earnings Presentation
20 slides from J.b. Hunt Transport Services's earnings presentation, 2021
Slide 1: J.B. Hunt Q1 2021 Results
J.B. HUNT Q1 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) 1Q 2021 Revenue Mix • Largest, 100% 53’ high-cube container fleet • Largest drayage fleet in North America 6% • Priority loading and unloading at major rail terminals 8% JBI Dedicated Contract Services (DCS) DCS • Fleet creation, conversion, and a
Slide 4: 1Q 2021 Results vs. 1Q 2020
1Q 2021 RESULTS VS. 1Q 2020 OVERVIEW SEGMENT PERFORMANCE 1Q 2021 Revenue: Intermodal (JBI) $2.62 billion; up 15% Revenue: $1.18 billion; up 2% Operating Income: $107.5 million; up 5% 1Q 2021 Revenue, excl. FSC: $2.39 billion; up 17% Dedicated Contract Services (DCS) Revenue: $580 million; up 7% 1Q 2
Slide 5: Results Consolidated
4Q RESULTS CONSOLIDATED Revenue Operating Income (in millions) (in millions) $10,000 $734 $9,637 $800 $721 $9,165 $632 $716 $681 $713 $700 $624 $9,000 $577 $8,615 $600 $500 $8,000 $400 $7,190 $300 $208 $200 $155 $7,000 $6,555 $100 $6,165 $6,188 $- $6,000 $5,585 2013 2014 2015 2016 2017 2018 2019 202
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 Intermodal volumes decreased 3% over the same period in 2020. Eastern (in millions) network loads declined 3%, while transcontinental loads declined by 2%. Volumes were impacted by severe weather-related events in the quarter, in $5,000 addition to the challenges that we
Slide 9: Intermodal (JBI) Performance
INTERMODAL (JBI) PERFORMANCE JBI Revenue Change JBI Operating Income Change 20% 15% 12% 15% 15% 10% 5% 10% 5% 5% 0% 1% 2% -2% 0% -5% -4% -1% -5% -10% FY18/FY17 FY19/FY18 FY20/FY19 1Q Y/Y FY18/FY17 FY19/FY18 FY20/FY19 1Q Y/Y JBI Average Length of Haul JBI Revenue per Load 1,700 $2,500 $2,461 1,690 1,
Slide 10: Dedicated (DCS)
DEDICATED (DCS) DCS Revenue DCS revenue increased 7% during the current quarter over the same (in millions) period 2020. Productivity (revenue per truck per week) increased approximately 6% vs. 2020. Productivity excluding fuel surcharge $2,400 revenue increased approximately 5% from a year ago prim
Slide 11: Dedicated (DCS) Performance
DEDICATED (DCS) PERFORMANCE DCS Revenue Change DCS Operating Income Change 19% 20% 50% 42% 15% 40% 30% 10% 7% 20% 13% 5% 3% 10% 2% 0% 0% FY19/FY18 FY20/FY19 1Q Y/Y FY19/FY18 FY20/FY19 1Q Y/Y DCS Revenue Per Truck Per Week DCS Loads 5,000 4,576 4,000,000 3,676,212 4,378 4,373 4,326 3,353,553 4,500 3,
Slide 12: Integrated (ICS)
INTEGRATED (ICS) ICS revenue increased 56% during the quarter compared to the ICS Revenue first quarter 2020. Revenue growth was driven primarily from a (in millions) 58% increase in revenue per load which was favorably impacted by higher spot and contractual rates as compared to the first $1,800 qu
Slide 13: Integrated (ICS) Performance
INTEGRATED (ICS) PERFORMANCE ICS Revenue Change ICS Operating Income/(Loss) (in millions) 60% 56% $10.0 $7.3 50% $5.0 $0.0 40% ($5.0) ($10.0) 30% ($15.0) ($11.1) 30% ($20.0) 23% ($25.0) ($18.9) 20% ($30.0) ($35.0) ($40.0) 10% ($45.0) 1% ($50.0) ($44.7) 0% 2019 2020 1Q 20 1Q 21 FY18/FY17 FY19/FY18 FY
Slide 14: Final Mile Services (FMS)
FINAL MILE SERVICES (FMS)* FMS Revenue (in millions) FMS revenue increased 31% compared to the same period in $689 2020. Stop count within FMS increased 37% during the current $700 quarter versus a year ago, primarily from the addition of multiple $650 customer contracts implemented over the last ye
Slide 15: Final Mile Services (FMS)
FINAL MILE SERVICES (FMS) FMS Operating Income/(Loss) FMS Revenue Change (in millions) 55% 51% $10.0 50% $8.5 $8.0 45% $6.0 40% 31% $4.0 35% 30% $2.0 ($0.9) 25% 22% $0.0 20% ($2.0) 15% ($4.0) ($3.3) 10% ($6.0) 5% ($8.0) 0% ($10.0) FY19/FY18 FY20/FY19 1Q Y/Y ($8.8) ($12.0) 2019 2020 1Q 20 1Q 21 FMS S
Slide 16: Truckload (JBT)
TRUCKLOAD (JBT) JBT Revenue JBT revenue increased 43% from the same period in 2020. (in millions) Revenue excluding fuel surcharges increased 46% as a $550 result of a 6% increase in load count, a 38% increase in revenue per load excluding fuel surcharge revenue, and an $500 8% increase in average l
Slide 17: Truckload (JBT) Performance
TRUCKLOAD (JBT) PERFORMANCE JBT Average Tractors JBT Average Nonpaid Empty Mile Percentage 25.0% 2,200 18.9% 18.8% 1,958 18.4% 2,000 20.0% 1,837 1,814 16.3% 1,800 1,734 15.0% 1,600 10.0% 1,400 5.0% 1,200 1,000 0.0% 2019 2020 1Q 20 1Q 21 2019 2020 1Q 20 1Q 21 JBT Loads JBT Revenue per Tractor per Wee
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, 2021 December 31, 2020 ASSETS Current assets: Cash and cash equivalents $ 552,970 $ 313,302 Accounts receivable, net 1,219,162 1,124,403 Prepaid expenses and other 359,867 404,412 Total current assets 2,131,999 1,842,117 Property and equipment 5,953,231 5,908,710 Less accumul
Slide 20: Thank You
THANK YOU 20
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