Investor Presentaiton
INTERMODAL (JBI)
J.B. HUNT
$5,000
$4,500
JBI Revenue
(in millions)
$4,717
$4,745
$4,675
$4,084
$4,000
$3,687
$3,796
$3,665
$3,456
$3,500
$3,000
$2,500
$2,000
$1,500
$1,000
$500
$-
2013
2014
2015 2016 2017
2018 2019
2020 3Q 20 3Q 21
$1,211
$1,413
Overall intermodal volumes declined 6% versus the same period in
2020. Eastern network loads declined 2%, while transcontinental loads
declined 9% compared to the third quarter 2020. Demand for intermodal
capacity remains strong, however, volumes in the quarter were
negatively impacted by a continuation of rail restrictions across the
network and elevated detention of trailing equipment at customer
facilities. We believe labor shortages across the industry in both rail and
truck networks and at customer warehouses are at the core of the
supply-chain fluidity challenges limiting our asset utilization and capacity.
Despite these volume-related challenges, revenue increased by 17%,
driven by a 24% increase in revenue per load resulting from a
combination of mix, customer rates, and fuel surcharge revenue,
partially offset by the volume decline. Revenue per load, excluding fuel
surcharge revenue, increased 18% year over year.
Operating income increased by 52% year over year primarily from
higher customer rate and cost recovery efforts compared to the prior
year period. Rate and cost recovery efforts were partially offset by higher
rail and third-party dray purchased transportation costs, increases in
driver wages, benefits and recruiting costs, and activity-based costs to
accommodate network inefficiencies. Higher non-driver personnel, group
medical and equipment costs also offset higher revenue per load. The
current period ended with 102,230 units of trailing capacity and 6,017
power units in the dray fleet.View entire presentation