Hub Group, Inc. recently announced their financial results for the third quarter of 2024, with GAAP diluted earnings per share (EPS) of $0.39 and revenue of $1.0 billion. The company also reported non-GAAP adjusted EPS of $0.52, which excludes adjustments for a network alignment initiative and transaction related expenses in the quarter. Additionally, quarterly operating income was $32 million (3.3% of revenue), with adjusted operating income (non-GAAP) of $42 million (4.3% of revenue).
Furthermore, Hub Group returned $91 million to shareholders year-to-date through stock repurchases of $68 million, including $35 million in the third quarter, and dividend payments of $23 million. The company also has a strong balance sheet with cash and cash equivalents of $186 million and a net debt/EBITDA LTM (non-GAAP) of 0.3x as of September 30, 2024.
In terms of expansion, Hub Group has expanded its Mexico Intermodal and cross-border service offering by forming a joint venture with Mexico-based EASO. The company was also recognized by Inbound Logistics, ranking #3 on the Top Ten 3PL list.
Oak Brook, Ill., Oct. 30, 2024 (GLOBE NEWSWIRE) — Hub Group, Inc. (Nasdaq: HUBG) announced third quarter 2024 net income of $23.6 million and diluted earnings per share of $0.39.
How will this affect me?
As a customer or investor of Hub Group, Inc., you can expect more stability and potential growth from the company with their strong financial performance and expansion efforts. This could lead to better services and returns on your investment in the company.
How will this affect the world?
Hub Group’s continued success and expansion efforts can have a positive impact on the transportation and logistics industry as a whole. By offering enhanced services and forming strategic partnerships, the company is contributing to the efficiency and effectiveness of supply chain operations globally.
Conclusion
Overall, Hub Group, Inc.’s financial results for the third quarter of 2024 demonstrate their commitment to growth and innovation in the transportation and logistics industry. With strong earnings, expansion initiatives, and industry recognition, the company is well-positioned for continued success in the future.
