J.B. Hunt Transport Services, Inc. · NASDAQ:JBHT
J.B. Hunt Transport Services — Q1 2015 Earnings Presentation
17 slides from J.B. Hunt Transport Services's earnings presentation, 2015
Slide 1: J.B. Hunt Transport Services, Inc. 1Q 2015 Results
J.B. Hunt Transport Services, Inc. 1Q 2015 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 1Q 2015 Revenue Mix • Intermodal (JBI) 6% • Largest, 100% 53’ high-cube container fleet 11% JBI • Largest drayage fleet in North America DCS • Priority loading and unloading at major rail ICS terminals JBT • Dedicated Contract Services (DCS) 24% 59% • Fleet creation
Slide 4: 1Q 2015 Results vs. 1Q 2014
1Q 2015 Results vs. 1Q 2014 • 1Q 2015 Revenue: $1.44 billion; up 2% • 1Q 2015 Revenue, excl FSC: $1.26 billion; up 10% • 1Q 2015 Operating Income: $155 million; up 32% • 1Q 2015 EPS: $0.78 vs. $0.58 • Segment Performance • Intermodal (JBI) • Revenue: $844 million; up 1% • Operating Income: $104.3 mi
Slide 5: 1Q 2015 Results - Consolidated
1Q 2015 Results - Consolidated Revenue Operating Income (in millions) (in millions) $7,000 $700 $632 $600 $577 $530 $6,165 $500 $444 $358 $348 $6,000 $400 $5,585 $300 $248 $155 $200 $5,055 $117 $5,000 $100 $4,527 $- 2008 2009 2010 2011 2012 2013 2014 1Q 14 1Q 15 $4,000 $3,732 $3,793 Diluted EPS $3,2
Slide 6: Key Points
Key Points • Industry leading Intermodal franchise • Differentiated & specialized Dedicated business • Independent brokerage/management services • Lighter Truckload asset model 6
Slide 7: Segment Discussion
UNMATCHED CAPACITY. wi | | | al Atenas Segment Discussion
Slide 8: JBI - Intermodal
JBI - Intermodal JBI Revenue (in millions) • Load volumes grew 6% over the same period $3,687 2014. $3,456 $3,500 • Eastern network realized load growth of 12% $3,071 and Transcontinental loads grew 2% compared $3,000 to prior year as the west coast port issues $2,673 limited eastbound intermodal tr
Slide 9: JBI Performance
JBI Performance JBI Revenue Growth JBI Operating Income Growth 20% 30% 24% 15% 13% 19% 20% 10% 7% 12% 10% 3% 1% 0% 0% FY12/FY11 FY13/FY12 FY14/FY13 1Q Y/Y FY12/FY11 FY13/FY12 FY14/FY13 1Q Y/Y JBI Average Length of Haul JBI Revenue per Load 1,700 1,694 1,690 $2,200 1,680 $2,169 $2,169 1,669 $2,165 1,
Slide 10: DCS - Dedicated
DCS - Dedicated DCS Revenue (in millions) • Revenue increased 7% during the current $1,600 quarter over the same period 2014. • A net additional 336 revenue producing trucks $1,394 $1,400 were in the fleet by the end of the quarter $1,231 compared to prior year primarily from new $1,200 contract imp
Slide 11: DCS Performance
DCS PerformanceDCS Revenue Growth DCS Operating Income Growth 15% 14% 150% 13% 130% 130% 110% 10% 90% 7% 70% 5% 5% 50% 30% 13% 10% 6% 0% -10% -5% FY12/FY11 FY13/FY12 FY14/FY13 1Q Y/Y FY12/FY11 FY13/FY12 FY14/FY13 1Q Y/Y DCS Average Length of Haul DCS Loads 200 190 2,500,000 177 180 175 2,101,707 1,8
Slide 12: ICS - Non-Asset Based
ICS - Non-Asset Based ICS Revenue (in millions) • Revenue was flat vs. first quarter 2014. Volumes $750 $718 increased 17% while revenue per load $700 decreased 14.5% primarily due to lower fuel $650 prices and less transactional customer demand from first quarter 2014. $600 $537 • Contractual busin
Slide 13: ICS Performance
ICS Performance ICS Revenue Growth ICS Operating Income Change 40% 34% 110% 35% 90% 28% 30% 80% 25% 20% 18% 50% 15% 23% 10% 20% 8% 5% 0% 0% -10% -3% FY12/FY11 FY13/FY12 FY14/FY13 1Q Y/Y FY12/FY11 FY13/FY12 FY14/FY13 1Q Y/Y ICS Gross Profit Margin ICS Loads 15.0% 500,000 13.0% 13.7% 453,410 11.8% 12.
Slide 14: JBT - Truckload
JBT - Truckload JBT Revenue (in millions) • Revenue decreased 1% from the same quarter $800 2014. Revenue excluding fuel surcharge increased 6%. $676 • Increased truck count, better asset utilization, improved freight lane networks and core $600 customer rate increases of approximately 9% contribute
Slide 15: JBT Performance
JBT Performance JBT Average Length of Haul JBT Average Nonpaid Empty Miles Per Load 500 77 450 431 411 408 74.7 400 73.3 74 300 71.8 71 200 68.1 68 100 0 65 2013 2014 1Q 14 1Q 15 2013 2014 1Q 14 1Q 15 JBT Loads JBT Revenue per Tractor per Week 500,000 $5,000 386,875 370,555 $4,068 $3,856 400,000 $3,
Slide 16: 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
Slide 17: Balance Sheet
Balance Sheet J.B. HUNT TRANSPORT SERVICES, INC. Condensed Consolidated Balance Sheets (in thousands) (unaudited) March 31, 2015 December 31, 2014 ASSETS Current assets: Cash and cash equivalents $ 5,646 $ 5,961 Accounts Receivable 631,172 653,795 Prepaid expenses and other 148,063 201,743 Deferred
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