J.b. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.b. Hunt Transport Services — Q3 2024 Earnings Presentation
19 slides from J.b. Hunt Transport Services's earnings presentation, 2024
Slide 1: J.B. Hunt Transport Services, Inc. Q3 2024 Results
J.B. Hunt Transport Services, Inc. Q3 2024 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 5% Intermodal (JBI) 3Q 2024 Revenue Mix 7% • Largest, 100% 53’ high-cube container fleet • Largest drayage fleet in North America 9% • Priority loading and unloading at major rail terminals Dedicated Contract Services® (DCS®) • Fleet creation, conversion, and augm
Slide 4: 3Q 2024 Results vs. 3Q 2023
3Q 2024 Results vs. 3Q 2023 Overview Segment Performance 3Q 2024 Revenue: Intermodal (JBI) $3.07 billion; down 3% Revenue: $1.56 billion; flat Operating Income: $111.8 million; down 13% 3Q 2024 Revenue, excl FSC: $2.68 billion; down less than 1% Dedicated Contract Services (DCS) Revenue: $846 millio
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 $993 $1,000 $12,830 $12,168 $800 $716 $721 $681 $734 $713 $12,000 $632 $624 $600 $400 $242 $224 $10,000 $9,637 $200 $9,165 $- $8,615 2014 2015 2016 2017 2018 2019 2020 2021 2022 2
Slide 6: Segment Discussion
Segment Discussion
Slide 7: Intermodal (JBI)
Intermodal (JBI) Intermodal volume increased 5% over the same period in 2023. JBI Revenue (in millions) Transcontinental network loads increased 7%, while eastern network loads increased 3% compared to the third quarter 2023. Demand for our intermodal service improved throughout the quarter across b
Slide 8: Intermodal (JBI) Performance
Intermodal (JBI) Performance JBI Revenue Change JBI Operating Income Change 40% 50% 41% 29% 33% 30% 30% 20% 17% 12% 10% 10% 1% 0% -10% 0% -4% -13% -1% -10% -30% -29% -12% -20% -50% FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 3Q Y/Y FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 3Q Y/Y JBI A
Slide 9: Dedicated Contract Services (DCS)
Dedicated Contract Services (DCS) DCS Revenue (in millions) DCS revenue decreased 5% during the current quarter over the same period 2023 driven by a 3% decline in average $3,524 $3,543 trucks combined with a 3% decline in productivity (revenue $3,500 per truck per week). Productivity excluding fuel
Slide 10: Dedicated Contract Services (DCS)
Dedicated Contract Services (DCS) DCS Revenue Change DCS Operating Income Change 40% 50% 42% 30% 40% 30% 23% 30% 19% 20% 20% 15% 13% 12% 10% 10% 3% 0% 1% 0% 0% -10% -7% -10% -5% -20% FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 3Q Y/Y FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 3Q Y/Y DCS
Slide 11: Integrated Capacity Solutions (ICS)
Integrated Capacity Solutions (ICS) ICS revenue declined 7% during the current quarter versus ICS Revenue (in millions) the third quarter 2023. Overall segment volume decreased 10% versus the prior-year period. Revenue per load increased $2,471 3% compared to the third quarter 2023 due to increases
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 $40.0 23% 20% $20.0 1% 0% $0.0 -6% -7% -$3.3 -20% ($20.0) -$11.1 -$9.4 -40% ($40.0) -40% -$44.7 -$44.1 -60% ($60.0) FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 3Q Y/Y
Slide 13: Final Mile Services (FMS)
Final Mile Services (FMS) FMS Revenue (in millions) $1,042 $1,000 FMS revenue decreased 3% compared to the same period $909 $918 2023 primarily driven by general weakness in demand across many of the end markets served. The decline in revenue was partially offset by multiple new customer contracts $
Slide 14: Final Mile Services (FMS)
Final Mile Services (FMS) FMS Revenue Change FMS Operating Income/(Loss) (in millions) $46.7 60% 51% $45.0 50% $34.3 $36.6 40% $35.0 32% 30% 22% $25.0 20% 15% $13.0 $12.0 $15.0 10% $5.0 0% -10% -3% -$5.0 -$0.9 -20% -12% -$15.0 -$8.8 FY19/FY18 FY20/FY19 FY21/FY20 FY22/FY21 FY23/FY22 3Q Y/Y 2019 2020
Slide 15: Truckload (JBT)
Truckload (JBT) JBT Revenue (in millions) JBT segment gross revenue decreased 12% compared to the same period in the previous year. Segment gross revenue $1,000 excluding fuel surcharge revenue decreased 9% due to a 6% $937 decline in load volume and a 3% decline in gross revenue per load excluding
Slide 16: Truckload (JBT)
Truckload (JBT) JBT Average Effective Trailing Equipment JBT Average Length of Haul 16,000 700 644 652 601 13,000 12,869 600 570 12,588 548 12,000 10,611 500 420 415 7,844 400 8,000 7,321 6,497 300 200 4,000 100 - - 2019 2020 2021 2022 2023 3Q 23 3Q 24 2019 2020 2021 2022 2023 3Q 23 3Q 24 JBT Loads
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. 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 120,002 53,344 Accounts Receivable, net 1,262,921 1,334,912 Prepaid expenses and other 543,477 696
Slide 19: Thank You
Thank You [zznum, |} People. Technology. Capacity... »”»
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