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Jun 30, 2022
Hub Group Q2 2022 Earnings Report
Reported record revenue and profit, supported customers with high service levels and innovative supply chain solutions, and achieved record quarterly diluted EPS.
Key Takeaways
Hub Group reported a strong second quarter with a 43% increase in revenue to $1.4 billion and diluted earnings per share of $3.03, nearly four times the prior year's EPS. The company benefited from yield improvement, operating efficiency, and growth across its Intermodal and Transportation Solutions, Truck Brokerage, and Logistics segments.
Second quarter revenue increased by 43% to $1.4 billion compared to the previous year.
Diluted earnings per share reached a record $3.03, nearly four times the prior year's.
Intermodal and Transportation Solutions revenue increased by 41% to $873 million.
Truck Brokerage revenue grew by 90% to $266 million due to the acquisition of Choptank Transport and organic growth.
Forward Guidance
The company expects full year 2022 diluted earnings per share to range from $10.00 to $10.50 and revenue to be $5.6-$5.7 billion.
Positive Outlook
- Full year 2022 diluted earnings per share expected to range from $10.00 to $10.50.
- Full year 2022 revenue estimated to be $5.6-$5.7 billion.
- Gross margin as a percentage of revenue expected to range from 15.8% to 16.0%.
- Effective tax rate for the year projected to be 24-25%.
- Company remains focused on disciplined cost and capital structure.
Challenges Ahead
- Some level of uncertainty acknowledged looking forward to 2023.
- Costs and expenses expected to range from $415 to $430 million for the year.
- Capital expenditures for 2022 expected to range from $240 to $250 million.
- General or regional economic conditions and health concerns.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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