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Jun 30, 2023
Hub Group Q2 2023 Earnings Report
Hub Group reported a net income of $47 million and diluted earnings per share of $1.44 for Q2 2023.
Key Takeaways
Hub Group's Q2 2023 results were impacted by challenging market conditions, with a consolidated revenue of $1.0 billion and a net income of $47 million, or $1.44 per diluted share. The Logistics Segment contributed significantly to operating income, offsetting softer profitability in the ITS Segment.
Net income for Q2 2023 was $47 million, or $1.44 per diluted share, compared to $103 million, or $3.03 per diluted share in Q2 2022.
Consolidated revenue for Q2 2023 was $1.0 billion, down from $1.4 billion in Q2 2022, due to changes in customer rate and volumes in the ITS and Logistics Segments.
The Logistics Segment contributed nearly half of the company's operating income in Q2 2023.
The company returned $100 million of capital to shareholders through share repurchases in Q2 2023.
Hub Group
Hub Group
Hub Group Revenue by Segment
Revenue by Segment
Logistics Revenue
CapyFin.com Forward Guidance
Hub Group expects diluted earnings per share to range from $5.80 to $6.40 and revenue to range from $4.3 to $4.5 billion for 2023. Capital expenditures are projected to be between $140 to $150 million.