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Mar 31, 2024
Hub Group Q1 2024 Earnings Report
Hub Group reported first quarter results with revenue of $1.0 billion and diluted earnings per share of $0.44.
Key Takeaways
Hub Group's first quarter 2024 results showed a net income of $27 million and diluted earnings per share of $0.44. Revenue reached $1.0 billion, aligning with the previous quarter's performance despite seasonal declines and challenging market conditions. The company's operating income margin was 3.7% of revenue.
First quarter revenue was $1.0 billion, consistent with the previous quarter despite seasonal declines.
Operating income margin improved to 3.7% due to yield management, cost containment, and operating efficiency initiatives.
The company is focused on diversifying its business and managing costs for long-term earnings stability and growth.
Completed a 2-for-1 stock split, purchased $26 million of HUBG shares, and paid the company’s first quarterly cash dividend.
Hub Group
Hub Group
Hub Group Revenue by Segment
Revenue by Segment
Intermodal & Transportation Solutions Revenue
CapyFin.comLogistics Revenue
CapyFin.com Forward Guidance
Hub Group expects diluted earnings per share to range from $1.80 to $2.25 for 2024. They estimate revenue of approximately $4.3 to $4.7 billion for the full year and project an effective tax rate of approximately 24%.
Positive Outlook
- Diluted earnings per share expected to range from $1.80 to $2.25 for 2024.
- Revenue estimated at approximately $4.3 to $4.7 billion for the full year.
- Effective tax rate projected at approximately 24%.
- Capital expenditures expected in the range of $45 million to $65 million.
- Focus on cost management.
Challenges Ahead
- Challenging market conditions.
- Impact of the January winter storm.
- Lower volumes in ITS and brokerage.
- Lower fuel revenue.
- Start-up costs and a larger than expected auto claim settlement in Dedicated line of business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income