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Mar 31, 2022
Hub Group Q1 2022 Earnings Report
Reported record revenue and profit, driven by strong freight demand and improved efficiency.
Key Takeaways
Hub Group reported a strong first quarter in 2022, with record revenue and diluted earnings per share. Revenue increased by 41% to $1.3 billion, and diluted EPS reached $2.58, over five times the prior year's EPS. The company is increasing its financial guidance for the year.
Net income for the first quarter of 2022 was $88 million, or $2.58 per diluted share.
Revenue increased by 41% to $1.3 billion compared to $920 million in the first quarter of 2021.
Operating income was $115 million, representing 8.9% of revenue, compared to $24 million in 2021.
The company is increasing its financial guidance for the year, expecting a strong 2022.
Hub Group
Hub Group
Hub Group Revenue by Segment
Revenue by Segment
Intermodal & Transportation Solutions Revenue
CapyFin.comLogistics Revenue
CapyFin.com Forward Guidance
The company expects 2022 diluted earnings per share to range from $9.00 to $10.00 and revenue to range from $5.3 to $5.5 billion.
Positive Outlook
- Diluted earnings per share are expected to range from $9.00 to $10.00.
- Revenue is estimated to range from $5.3 to $5.5 billion.
- Gross margin as a percentage of revenue is projected to be between 15.6% and 16.0%.
- The company anticipates a strong 2022 performance.
- Capital expenditures for 2022 are expected to range from $240 to $265 million.
Challenges Ahead
- Costs and expenses are expected to range from $420 to $440 million for the year.
- The effective tax rate for the year is projected to be 24-25%.
- Forward-looking statements are subject to risks, uncertainties, and other factors.
- Economic conditions and health concerns could impact actual results.
- The ongoing COVID-19 pandemic may affect business operations and financial market conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income