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Dec 31, 2023
Hub Group Q4 2023 Earnings Report
Hub Group reported a decrease in net income and revenue due to changes in customer rates and volumes, while strategically focusing on acquisitions and cost management.
Key Takeaways
Hub Group reported a decrease in net income to $29 million and diluted earnings per share of $0.46 for Q4 2023, compared to $79 million and $1.21 per share in Q4 2022. The results were impacted by acquisition-related expenses. Revenue also decreased to $1.0 billion from $1.3 billion in the same quarter of the previous year. The company continued to execute its growth strategy by acquiring Forward Air Final Mile and repurchasing $26 million of its stock.
Net income for Q4 2023 was $29 million, with diluted earnings per share of $0.46.
Consolidated revenue for Q4 2023 was $1.0 billion, a decrease from $1.3 billion in Q4 2022.
Acquisition of Forward Air Final Mile (FAFM) added new capabilities in appliance delivery and installation.
Company purchased $26 million of its stock.
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 2024 diluted earnings per share to range from $2.00 to $2.50 and revenue to be approximately $4.6 to $5.0 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income