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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.
Hub Group
Hub Group
Hub Group Revenue by Segment
Revenue by Segment
Logistics Revenue
CapyFin.com 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.