J.b. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.b. Hunt Transport Services — Q3 2023 Earnings Presentation
19 slides from J.b. Hunt Transport Services's earnings presentation, 2023
Slide 1: J.B. Hunt Transport Services, Inc. Q3 2023 Results
J.B. Hunt Transport Services, Inc. Q3 2023 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 6% Intermodal (JBI) 3Q 2023 Revenue Mix 8% • Largest, 100% 53’ high-cube container fleet • Largest drayage fleet in North America • Priority loading and unloading at major rail terminals 9% Dedicated Contract Services® (DCS®) 49% • Fleet creation, conversion, and
Slide 4: 3Q 2023 Results vs. 3Q 2022
3Q 2023 Results vs. 3Q 2022 Overview Segment Performance 3Q 2023 Revenue: Intermodal (JBI) $3.16 billion; down 18% Revenue: $1.56 billion; down 15% Operating Income: $128.0 million; down 41% 3Q 2023 Revenue, excl FSC: $2.69 billion; down 15% Dedicated Contract Services (DCS) Revenue: $892 million; d
Slide 5: 3Q Results Consolidated
3Q Results Consolidated Operating Income (in millions) Revenue (in millions) $14,814 $1,400 $1,332 $1,200 $14,000 $1,046 $1,000 $12,168 $800 $716 $721 $734 $713 $681 $12,000 $577 $632 $624 $600 $362 $400 $242 $10,000 $9,637 $200 $9,165 $- $8,615 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 3Q 2
Slide 6: Segment Discussion
Segment Discussion
Slide 7: Intermodal (JBI)
Intermodal (JBI) Intermodal volume increased 1% over the same period in 2022. JBI Revenue (in millions) Eastern network loads decreased 3%, while transcontinental loads increased 4%. Demand for our intermodal service $7,022 improved throughout the quarter across both the Eastern and $7,000 Transcont
Slide 8: Intermodal (JBI) Performance
Intermodal (JBI) Performance JBI Revenue Change JBI Operating Income Change 40% 60% 29% 41% 30% 40% 33% 20% 15% 17% 20% 12% 10% 1% 0% 0% -2% -4% -1% -20% -10% -40% -20% -15% -41% -30% -60% FY18/FY17 FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 3Q Y/Y FY18/FY17 FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 3Q Y
Slide 9: Dedicated Contract Services (DCS)
Dedicated Contract Services® (DCS®) DCS Revenue (in millions) DCS revenue decreased 4% during the current quarter over the same period 2022. Productivity (revenue per truck per $3,524 week) decreased approximately 2% versus the prior period. $3,500 Productivity excluding fuel surcharge revenue incre
Slide 10: Dedicated Contract Services (DCS)
Dedicated Contract Services® (DCS®) DCS Revenue Change DCS Operating Income Change 40% 50% 42% 30% 40% 30% 23% 19% 30% 20% 20% 15% 13% 10% 3% 10% 0% 0% 0% -4% -10% -10% -4% FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 3Q Y/Y FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 3Q Y/Y DCS Revenue Per Truck Per Week DC
Slide 11: Integrated Capacity Solutions (ICS)
Integrated Capacity Solutions (ICS) ICS revenue declined 48% during the current quarter versus ICS Revenue (in millions) the third quarter 2022. Overall segment volume decreased 38% versus the prior-year period. Revenue per load $2,471 decreased 17% compared to the third quarter 2022 due to $2,500 $
Slide 12: Integrated Capacity Solutions (ICS)
Integrated Capacity Solutions (ICS) ICS Revenue Change ICS Operating Income/(Loss) in millions 60% $57.6 49% $60.0 40% $39.9 30% $40.0 23% 20% $20.0 $13.4 1% 0% $0.0 -6% -20% ($20.0) -$11.1 -$9.4 -40% ($40.0) -48% -$44.7 -60% ($60.0) FY18/FY17 FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 3Q Y/Y 2019 2020
Slide 13: Final Mile Services (FMS)
Final Mile Services® (FMS) FMS Revenue (in millions) FMS revenue decreased 15% compared to the same period 2022 primarily driven by efforts over the last twelve months to improve revenue quality on the overall business portfolio and $1,042 general weakness in demand across many of the end markets $1
Slide 14: Final Mile Services (FMS)
Final Mile Services® (FMS) FMS Revenue Change FMS Operating Income/(Loss) (in millions) 60% 51% $36.6 $34.3 50% $35.0 40% 32% $25.0 30% 22% $13.0 20% 15% $15.0 $9.8 10% $5.0 0% -10% -$5.0 -$0.9 -20% -15% -$15.0 -$8.8 FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 3Q Y/Y 2019 2020 2021 2022 3Q 22 3Q 23 FMS
Slide 15: Truckload (JBT)
Truckload (JBT) JBT Revenue (in millions) JBT segment gross revenue decreased 17% compared to the same period in the previous year. Segment gross revenue excluding fuel surcharge revenue decreased 18% primarily $1,200 due to a 22% decline in segment gross revenue per load excluding fuel surcharge re
Slide 16: Truckload (JBT)
Truckload (JBT) JBT Average Effective Trailing Equipment JBT Average Length of Haul 16,000 700 644 594 12,869 600 570 548 12,000 10,590 10,938 500 415 420 7,844 400 8,000 7,321 6,497 300 200 4,000 100 - - 2019 2020 2021 2022 3Q 22 3Q 23 2019 2020 2021 2022 3Q 22 3Q 23 JBT Loads JBT Revenue per Load
Slide 17: 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 18: Balance Sheet
Balance Sheet J.B. HUNT TRANSPORT SERVICES, INC. Condensed Consolidated Balance Sheets {in thousands) (unaudited) September 30, 2023 December 31, 2022 ASSETS Current assets: Cash and cash equivalents $s 75,198 $ 51,927 Accounts Receivable, net 1,369,974 1,528,075 Prepaid expenses and other 525,002 6
Slide 19: Thank You
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