Hub Group, Inc. Earnings Per Share Disclosure
NOTE 3. Earnings Per Share
The following is a reconciliation of our earnings per share (in thousands, except for per share data):
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Years Ended December 31, |
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2024 |
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2023 |
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2022 |
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Net income |
$ |
104,043 |
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$ |
167,528 |
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$ |
356,948 |
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Less: net income attributable to non-controlling interests |
$ |
50 |
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$ |
- |
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$ |
- |
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Net income attributable to Hub Group, Inc. |
$ |
103,993 |
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$ |
167,528 |
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$ |
356,948 |
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Weighted average shares outstanding - basic |
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60,623 |
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63,324 |
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66,418 |
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Dilutive effect of restricted stock |
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481 |
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630 |
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700 |
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Weighted average shares outstanding - diluted |
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61,104 |
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63,954 |
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67,118 |
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Earnings per share net income |
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Basic |
$ |
1.72 |
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$ |
2.65 |
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$ |
5.37 |
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Diluted |
$ |
1.70 |
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$ |
2.62 |
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$ |
5.32 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Feb 25, 2025 | Showing above |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2018 | Mar 1, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 24, 2017 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.