Market Updates
Hub Group Lifts Annual Outlook On Intermodal Transportation Strength
Scott Peters
02 May, 2022
New York City
Hub Group reported first quarter 2022 revenues increased 41% to $1.3 billion and net income surged five-fold to $87.5 million from a year ago.
Diluted earnings per share increased to $2.58 from 51 cents a year ago.
Intermodal and transportation solutions revenues increased 35% to $774 million and Intermodal volume increased 4% and revenue per load increased 35%.
Truck Brokerage revenue grew 132% in the quarter to $296 million due to the acquisition of Choptank Transport as well as revenue growth from truckload and LTL.
Logistics revenue increased 6% to $229 million driven by growth in the final mile and consolidation services, as well as the contribution from new managed transportation customer onboardings.
Capital expenditure in the quarter totaled $31 million.
Guidance and Outlook
The company also guided 2022 revenues between $5.3 billion and $5.5 billion and diluted earnings per share between $9.00 and $10.00.
Gross margin between 15.6% and 16.0% in 2022 and costs and expenses to range between $440 million and $450 million.
Capital expenditure to range between $240 million and $265 million.
Annual Returns
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Earnings
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