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Jun 30, 2024
Hub Group Q2 2024 Earnings Report
Hub Group's second quarter performance saw intermodal volume growth and a strong final mile contribution, resulting in $1.0 billion in revenue amidst challenging market conditions.
Key Takeaways
Hub Group reported a decrease in revenue and net income compared to the previous year, but experienced growth in Intermodal volume and contributions from Final Mile. The company's Q2 2024 revenue was $986 million, with a net income of $29 million, or $0.47 per diluted share.
Intermodal volume increased by 8%.
Final Mile acquisition contributed positively to revenue.
Revenue was $986 million, a 5.2% decrease year-over-year.
Net income was $29 million, compared to $47 million in the prior year.
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 anticipates diluted earnings per share to range from $1.75 to $2.05 and revenue of approximately $4.0 to $4.3 billion for the full year 2024.
Positive Outlook
- Diluted earnings per share are expected to be between $1.75 and $2.05 for 2024.
- Full year revenue is estimated to be approximately $4.0 to $4.3 billion.
- Effective tax rate is projected to be approximately 24%.
- Capital expenditures are expected to be in the range of $45 million to $65 million for the full year.
- Focus on yield management and capital structure
Challenges Ahead
- Market conditions remain challenging.
- Revenue was impacted by the freight market.
- Lower revenue per load including fuel and accessorial revenue in Intermodal and Brokerage.
- Operating income decreased from the prior year.
- Lower Brokerage margin
Revenue & Expenses
Visualization of income flow from segment revenue to net income