Hub Group, Inc.

Listed Company

HUBGCIK 0000940942NasdaqLarge AcceleratedArrangement Of Transportation Of Freight & CargoIllinoisFY ends Dec 31

Period

FY 2024

Revenue

$3.95B

Net Income

$103.99M

Total Assets

$2.87B

Equity

$1.64B

Shares Out

37.32M

Op. Cash Flow

$194.42M

Business

Hub Group, Inc. is a leading supply chain solutions provider that offers comprehensive transportation and logistics management services emphasizing reliability, visibility and value. It provides intermodal transportation, dedicated trucking, transportation management, freight brokerage (truckload, LTL, flatbed, temperature-controlled), consolidation and fulfillment services, and final mile residential delivery and installation. The business operates through two reportable segments—Intermodal and Transportation Solutions (ITS) and Logistics—with ITS covering intermodal and dedicated trucking and Logistics covering outsource logistics, TMS, brokerage, consolidation and final mile. Hub Group serves a broad North American customer base across retail, consumer products, automotive and durable goods through company-owned assets and third-party carriers, supported by sales representatives, terminals, and a network of warehouses and cross-dock facilities.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Operating revenue	3,946	4,203	5,340	4,232	3,496
Purchased transportation and warehousing	2,931	3,146	4,037	3,172	—
Salaries and benefits	577	553	543	590	189
Depreciation and amortization	141	144	132	116	31
Insurance and claims	44	49	58	44	—
General and administrative	114	106	121	90	100
Gain on sale of assets, net	−1	−7	−24	−19	—
Total operating expenses	3,806	3,990	4,866	3,994	320
Operating income	140	212	475	238	106
Interest expense	−14	−13	−8	—	—
Interest income	7	10	874,000	5,000	403,000
Other, net	−167,000	397,000	−131,000	−245,000	−383,000
Total other expense, net	−8	−3	−7	−8	−10
Income before provision for income taxes	133	209	468	231	96
Provision for income taxes	29	42	111	59	23
Net income	104	168	357	—	—
Less: net income attributable to non-controlling interests	50,000	0	0	—	—
Net income attributable to Hub Group, Inc.	104	168	357	171	74
Basic earnings per common share	1.72	2.65	5.37	2.56	2.22
Diluted earnings per common share	1.7	2.62	5.32	2.53	2.19
Basic weighted average number of shares outstanding	60,623	63,324	66,418	66,868	33,180
Diluted weighted average number of shares outstanding	61,104	63,954	67,118	67,784	33,543

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Cash and cash equivalents	98	187	287	160	125
Restricted cash	29	0	—	—	—
Accounts receivable trade, net	582	600	716	702	519
Accounts receivable other	11	3	—	—	—
Prepaid taxes	15	17	17	2	1
Prepaid expenses and other current assets	34	41	33	28	27
TOTAL CURRENT ASSETS	768	849	1,057	894	673
Restricted investments	22	21	18	24	23
Property and equipment, net	740	792	784	681	671
Right-of-use assets - operating leases	234	211	102	44	44
Right-of-use assets - financing leases	1	3	1	1	4
Other intangibles, net	267	305	197	197	164
Goodwill	814	734	629	577	509
Other non-current assets	22	23	22	18	18
TOTAL ASSETS	2,868	2,936	2,810	2,437	2,105
Accounts payable trade	280	349	345	425	285
Accounts payable other	29	14	16	12	13
Accrued payroll	33	22	67	57	23
Accrued other	91	121	132	83	103
Lease liability - operating leases	45	45	30	11	10
Lease liability - financing leases	663,000	2	1	1	2
Current portion of long-term debt	100	105	102	97	94
TOTAL CURRENT LIABILITIES	579	658	692	687	529
Deferred consideration	31	0	—	—	—
Long-term debt	164	246	241	177	177
Other non-current liabilities	51	55	44	42	43
Lease liability - operating leases	198	178	79	35	36
Lease liability - financing leases	330,000	865,000	0	0	8,000
Deferred taxes	153	164	156	156	162
Preferred stock, $.01 par value; 2,000,000 shares authorized; no shares issued or outstanding in 2024 and 2023.	0	0	0	0	0
Additional paid-in capital	222	210	208	189	186
Retained earnings	2,022	1,949	1,782	1,425	1,253
Accumulated other comprehensive loss	−1	−129,000	−214,000	−207,000	−191,000
Treasury stock; at cost, 11,556,483 shares in 2024 and 13,323,268 shares in 2023.	−599	−525	−375	−258	−266
Total Hub Group, Inc. equity	1,645	1,635	1,600	1,340	1,158
Non-controlling interests	47	0	—	—	—
TOTAL STOCKHOLDERS' EQUITY	1,692	1,635	1,600	1,340	—
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,868	2,936	2,810	2,437	2,105

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Depreciation and amortization of intangibles and right-of-use assets	193	184	154	131	124
Impairment of right-of-use asset	0	2	6	0	0
Deferred taxes	−14	10	4	−4	7
Non-cash share-based compensation expense	19	21	20	20	17
Gain on sale of assets, net	−1	−7	−24	−19	907,000
Restricted investments	−879,000	−3	6	−903,000	−752,000
Accounts receivable, net	34	145	8	−116	−47
Prepaid taxes	3	−344,000	−15	−856,000	−707,000
Prepaid expenses and other current assets	5	−6	−3	−647,000	−3
Other non-current assets	−2	−4	−4	−3	−2
Accounts payable	−74	1	−89	78	6
Accrued expenses	−27	−64	58	10	−4
Non-current liabilities	−45	−26	−20	−13	−2
Net cash provided by operating activities	194	422	458	253	175
Proceeds from sale of equipment	12	28	43	45	3
Purchases of property and equipment	−51	−140	−219	−133	−115
Acquisitions, net of cash acquired	−15	−261	−103	−122	−85
Net cash used in investing activities	−53	−373	−279	−210	−197
Repayments of long-term debt	−107	−106	−111	−108	−199
Purchase of treasury stock	−68	−144	−75	0	0
Dividends paid	−30	0	0	—	—
Stock withheld for payments of withholding taxes	−11	−10	−8	−9	−8
Finance lease payments	−2	−3	−2	−3	−3
Distribution to non-controlling interest holders	−1	0	0	—	—
Proceeds from issuance of debt	18	114	179	112	187
Net cash used in financing activities	−201	−148	−52	−7	−22
Effect of exchange rate changes on cash, cash equivalents and restricted cash	−89,000	40,000	26,000	−10,000	−20,000
Net (decrease) increase in cash, cash equivalents and restricted cash	−60	−99	127	35	−44
Interest	15	13	8	8	9
Income taxes paid, net	38	35	129	—	—

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