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Sep 30, 2024
Hub Group Q3 2024 Earnings Report
Hub Group's financial performance in Q3 2024 showed mixed results with a decrease in revenue but growth in adjusted EPS.
Key Takeaways
Hub Group reported a decrease in revenue but an increase in adjusted EPS for Q3 2024. The company's Intermodal volume grew by 12%, and it closed a joint venture with EASO. Market conditions remain challenging.
Net income was $23.6 million, with diluted earnings per share of $0.39.
Adjusted EPS increased to $0.52, up from $0.48 in Q3 2023.
Revenue decreased to $987 million, a 3.7% decrease from the prior year.
Intermodal volume grew by 12%.
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 expects adjusted diluted earnings per share to range from $1.85 to $1.95 and revenue of approximately $4.0 billion for the full year 2024.
Positive Outlook
- Adjusted diluted earnings per share expected to range from $1.85 to $1.95.
- Revenue estimated at approximately $4.0 billion for the full year.
- Effective tax rate projected at approximately 23%.
- Capital expenditures in the range of $45 million to $65 million for the full year.
- Focus on yield management and cost control.
Challenges Ahead
- Market conditions remain challenging.
- Revenue was impacted by lower revenue per load including fuel and accessorial revenue in Intermodal and Brokerage.
- GAAP Logistics operating income decreased due to expenses related to the network alignment project.
- Lower brokerage revenue.
- Uncertainties and other factors might cause the actual performance of Hub Group to differ materially.
Revenue & Expenses
Visualization of income flow from segment revenue to net income