Hub Group Inc

Latest Results (14.08.2024):

Revenue Decline

Hub Group Inc. reported consolidated revenue of $986 million for the second quarter of 2024, which represents a 5.2% decrease from the $1,040 million reported in the same quarter of 2023. The decline in revenue was attributed to the challenging freight market and lower revenue per load, including fuel and accessorial revenue in Intermodal and Brokerage segments.

Net Income and EPS

For the second quarter of 2024, Hub Group Inc. announced a net income of $29 million, translating to diluted earnings per share (EPS) of $0.47. This is a decrease from the second quarter of 2023, where the net income was $47 million, or $0.72 per diluted share.

Operating Income

Hub Group Inc.'s operating income for the second quarter of 2024 was $40 million, or 4.0% of revenue. This is a decline from the $62 million, or 6.0% of revenue, reported in the same quarter of the previous year. The decrease in operating income was influenced by lower revenue and higher costs associated with recent acquisitions.

Capital Allocation

In the second quarter of 2024, Hub Group Inc. returned $48 million to shareholders through dividend payments of $15 million and stock repurchases of $33 million. The company continues to execute its capital allocation plan, focusing on returning value to shareholders while maintaining a strong balance sheet with $220 million in cash and cash equivalents as of June 30, 2024.

2024 Outlook

Hub Group Inc. provided its outlook for the full year 2024, expecting diluted earnings per share to range from $1.75 to $2.05. The company estimates its revenue for the year to be approximately $4.0 to $4.3 billion. Additionally, Hub Group projects an effective tax rate of around 24% and capital expenditures between $45 million and $65 million for the year.