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Sep 30, 2023
Hub Group Q3 2023 Earnings Report
Reported a decrease in net income and revenue due to changes in customer rates and volumes.
Key Takeaways
Hub Group reported a decrease in net income to $30 million and diluted earnings per share of $0.97 for Q3 2023, compared to $87 million and $2.61 per diluted share in Q3 2022. The decline was attributed to a soft freight environment, though the Logistics Segment contributed nearly 70% of operating income. Consolidated revenue decreased to $1.0 billion from $1.4 billion in the prior year.
Net income decreased to $30 million, with diluted earnings per share at $0.97.
Consolidated revenue declined to $1.0 billion due to changes in customer rates and volumes.
Logistics Segment contributed nearly 70% of the company's operating income.
Company driver count increased 12% as compared to the prior year.
Forward Guidance
Hub Group expects 2023 diluted earnings per share to range from $5.30 to $5.40 and revenue to be approximately $4.2 billion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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