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Jun 30, 2020
Hub Group Q2 2020 Earnings Report
Reported a decrease in revenue and operating income due to soft demand environment and increased competition, but saw improvement throughout the quarter.
Key Takeaways
Hub Group's Q2 2020 net income was $13.2 million, or $0.39 per diluted share, which included $7.0 million of donation, consulting, and severance expenses. Revenue decreased by 15% to $779 million compared to Q2 2019. The company saw improved business conditions throughout the quarter and is adding containers and tractors to support future growth.
Net income was $13.2 million, or $0.39 per diluted share, including $7.0 million in donation, consulting, and severance expenses.
Revenue decreased 15% to $779 million compared to the prior year.
Operating income was $21 million, including $9.6 million in donation, consulting, and severance expenses.
The company is adding 3,500 containers and purchasing over 200 tractors to refresh the fleet and reduce operating costs.
Forward Guidance
Capital expenditures for the remainder of fiscal year 2020 are expected to range from $65 million to $75 million, and primarily consist of investments to support growth in the business, including containers, tractors and trailers, as well as IT hardware and software.
Positive Outlook
- Investments to support growth in the business
- Including containers, tractors and trailers
- IT hardware and software
- Adding 3,500 containers in 2020
- Take delivery of over 200 tractors to refresh our fleet
Historical Earnings Impact
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Avg. Return Before/After Earnings
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