Filing Flows › Hub Group (HUBG) › Q4 2023
Hub Group (HUBG) Q4 2023 earnings results (fourth quarter 2023)
10-K filed Feb 27, 2024
Hub Group (HUBG) reported revenue of $985M for the fourth quarter 2023 (Q4 2023), -23% from a year earlier and -4% from the quarter before. Operating margin was 3.0%, net earnings $28.8M (2.9% of revenue).
Hub Group, Q4 2023: revenue $985M (-23% year over year), operating margin 3.0%, net earnings $28.8M, operating cash flow $99.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2023 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $985M | -4% | -23% |
| Operating profit | $29.4M | -31% | -72% |
| Net earnings | $28.8M | -5% | -64% |
| Operating cash flow | $99.5M | -2% | -8% |
| Free cash flow | $65.1M | +6% | +41% |
What changed
Revenue was $985.0M in Q4 2023, down 23% year over year and down 4% from the previous quarter.
Operating profit was $29.4M, a 3.0% margin (down 5.1 points year over year). The fastest-growing cost line was Other operating costs (+1163%). Net earnings were $28.8M, down 64% year over year. The effective tax rate was 3.3%.
Operating cash flow was $99.5M (down 8% year over year), 346% of net earnings. Non-cash charges added back $47.7M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items added $17.7M. Capital expenditures of $34.4M left free cash flow of $65.1M.
Questions
What was Hub Group's revenue in the fourth quarter 2023?
Hub Group (HUBG) reported revenue of $985M for the fourth quarter 2023 (Q4 2023), -23% from a year earlier and -4% from the quarter before.
Was Hub Group profitable in the fourth quarter 2023?
Operating profit was $29.4M (3.0% of revenue) and net earnings $28.8M.
Source: Hub Group 10-K on SEC EDGAR.