Filing Flows › Hub Group (HUBG) › Q3 2024
Hub Group (HUBG) Q3 2024 earnings results (third quarter 2024)
10-Q filed Nov 1, 2024
Hub Group (HUBG) reported revenue of $987M for the third quarter 2024 (Q3 2024), -4% from a year earlier and 0% from the quarter before. Operating margin was 3.3%, net earnings $23.6M (2.4% of revenue).
Hub Group, Q3 2024: revenue $987M (-4% year over year), operating margin 3.3%, net earnings $23.6M, operating cash flow $43.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $987M | 0% | -4% |
| Operating profit | $32.1M | -19% | -25% |
| Net earnings | $23.6M | -19% | -23% |
| Operating cash flow | $43.4M | -38% | -57% |
| Free cash flow | $31.4M | -44% | -49% |
What changed
Revenue was $986.9M in Q3 2024, down 4% year over year and roughly flat from the previous quarter.
Operating profit was $32.1M, a 3.3% margin (down 0.9 points year over year). Total costs fell 3% while revenue fell 4%. The fastest-growing cost line was General & admin (+23%). Net earnings were $23.6M, down 23% year over year. The effective tax rate was 23.2%.
Operating cash flow was $43.4M (down 57% year over year), 184% of net earnings. Non-cash charges added back $46.4M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items used $31.9M. Capital expenditures of $12.0M left free cash flow of $31.4M.
Questions
What was Hub Group's revenue in the third quarter 2024?
Hub Group (HUBG) reported revenue of $987M for the third quarter 2024 (Q3 2024), -4% from a year earlier and 0% from the quarter before.
Was Hub Group profitable in the third quarter 2024?
Operating profit was $32.1M (3.3% of revenue) and net earnings $23.6M.
Source: Hub Group 10-Q on SEC EDGAR.