Filing Flows › Hub Group (HUBG) › Q2 2024
Hub Group (HUBG) Q2 2024 earnings results (second quarter 2024)
10-Q filed Aug 2, 2024
Hub Group (HUBG) reported revenue of $986M for the second quarter 2024 (Q2 2024), -5% from a year earlier and -1% from the quarter before. Operating margin was 4.0%, net earnings $29.0M (2.9% of revenue).
Hub Group, Q2 2024: revenue $986M (-5% year over year), operating margin 4.0%, net earnings $29.0M, operating cash flow $69.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $986M | -1% | -5% |
| Operating profit | $39.5M | +6% | -36% |
| Net earnings | $29.0M | +7% | -38% |
| Operating cash flow | $69.9M | -13% | -47% |
| Free cash flow | $56.2M | -11% | -40% |
What changed
Revenue was $986.5M in Q2 2024, down 5% year over year and down 1% from the previous quarter.
Operating profit was $39.5M, a 4.0% margin (down 2.0 points year over year). Total costs fell 3% while revenue fell 5%. Net earnings were $29.0M, down 38% year over year. The effective tax rate was 22.8%.
Operating cash flow was $69.9M (down 47% year over year), 241% of net earnings. Non-cash charges added back $49.5M of depreciation and amortization and $5.4M of share-based compensation. Working capital and other items used $14.0M. Capital expenditures of $13.7M left free cash flow of $56.2M.
Questions
What was Hub Group's revenue in the second quarter 2024?
Hub Group (HUBG) reported revenue of $986M for the second quarter 2024 (Q2 2024), -5% from a year earlier and -1% from the quarter before.
Was Hub Group profitable in the second quarter 2024?
Operating profit was $39.5M (4.0% of revenue) and net earnings $29.0M.
Source: Hub Group 10-Q on SEC EDGAR.