J B Hunt Transport Services : Q4 2022 Earnings Presentation

J.B. Hunt Transport Services, Inc.

Q4 2022 Results

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 statements. These statements are based on J.B. Hunt's current plans and expectations and involve risks and uncertainties that could cause future activities and results of operations to be materially different from those set forth in the forward-looking statements. For further information, please refer to J.B. Hunt's reports and filings with the Securities and Exchange Commission.

Distinct & Complementary Businesses

Intermodal (JBI)

• Largest, 100% 53' high-cube container fleet
• Largest drayage fleet in North America
• Priority loading and unloading at major rail terminals

Dedicated Contract Services (DCS)

• Fleet creation, conversion, and augmentation
• Design & implementation of value-driven supply chain solutions
• On-sitemanagement

Integrated Capacity Solutions (ICS)

• Non-assetbased offering of dry van, flatbed, refrigerated, expedited, and LTL services.
• 40- and 20-foot box domestic and international containers and international intermodal services
• Services to all 50 States, Canada, and Mexico

Truckload (JBT)

• One of the largest capacity networks in North America
• Instant tracking via the Internet
• GPS trailer tracking

Final Mile Services (FMS)

• Largest final mile asset network in the US
• Provider of both asset and non-asset big and bulky delivery and installation services
• Nationwide fulfillment and retail-pooling distribution services

4Q 2022 Revenue Mix	7%
7%
		14%
		48%
JBI	DCS ICS
JBT	FMS	24%

Percentage of 4Q 2022 Operating Income by Business Segment

80%

70% 64%

60%

50%

40%

30%27%

20%

10%								6%	4%
0%
		JBI		DCS	-1%		JBT		FMS
-10%					ICS

4Q 2022 Results vs. 4Q 2021

Overview

4Q 2022 Revenue:

$3.65 billion; up 4%

4Q 2022 Revenue, excl FSC:

$3.02 billion; down 3%

4Q 2022 Operating Income:

$281.9 million; down 13%

4Q 2022 EPS:

$1.92 vs. $2.28; down 16%

Segment Performance

Intermodal (JBI)

Revenue: $1.75 billion; up 11%

Operating Income: $179.5 million; down 8%

Dedicated Contract Services (DCS)

Revenue: $880 million; up 24%

Operating Income: $75.8 million; up 4%

Integrated Capacity Solutions (ICS)

Revenue: $496 million; down 33%

Operating Loss: $(2.9) million; compared to $21.2 million income in 4Q'21

Truckload (JBT)

Revenue: $276 million; up 6%

Operating Income: $16.9 million; down 35%

Final Mile Services (FMS)

Revenue: $255 million; up 15% Operating Income $12.6 million; up 70%

4Q Results Consolidated

Revenue (in millions)

$14,814

$14,000

$12,168

$12,000

$10,000$9,637

$9,165 $8,615

$8,000

$7,190

$6,165$6,188$6,555 $6,000 $5,585

$4,000		$3,650
	$3,497
$2,000

$-

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 4Q 21 4Q 22

Operating Income (in millions)

$1,400																						$1,332
$1,200
																		$1,046
$1,000
														$734
$800			$577	$632	$716	$721	$624	$681	$713
$600
																					$323
$400																						$282
$200
$-
		2013	2014	2015	2016	2017	2018	2019	2020	2021		2022 4Q 214Q 22

					Diluted EPS	$9.21
$9.00
$8.00
						$7.14
$7.00
				$6.18
$6.00
					$4.77	$4.74
$5.00					$4.43
$4.00		$2.87	$3.16	$3.66	$3.81
$3.00					$2.28	$1.92
$2.00

$1.00 $-

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 4Q 21 4Q 22