Jetta Productions Inc While there is a freight recession that has significantly affected the financial results of freight and logistics providers, there are some companies that I believe hold compelling upside. Hub Group (NASDAQ:HUBG) is such a name. In May 2024, I initiated coverage for Hub Group with a buy rating and while the outperformance is not spectacular by any means, the stock returned 6.2% compared to a 5.4% for the broader markets. In this report, I will be discussing the most recent earnings whi ...

● . . | --- | --- | |---------------------------------------------------|-------| | | | | Tenet and Elite Times CPA Sign Strategic Alliance | | | Agreement to Bring 1,000 New SMEs and | | | Automated Bookkeeping to the Cubeler Business Hub | | August 14, 2024 7:30 AM EDT | Source: Tenet Fintech Group Inc. Toronto, Ontario--(Newsfile Corp. - August 14, 2024) - Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Tenet" or the "Company"), an innovative analytics service provider, owner and operator of the ...

DENVER and VANCOUVER, British Columbia, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Cologix, a leading network-neutral interconnection and hyperscale edge data center company in North America, announced its collaboration with Consensus Core, an AI cloud service provider, to support the needs of AI technologies at its MTL10 ScalelogixSM data center in Montréal, Canada. This collaboration enables Consensus Core to launch a new, NVIDIA-powered GPU-as-a-Service (GPUaaS) in the Canadian market and transforms MTL10 into a ...

Financial Data and Key Metrics Changes - Hub Group reported revenue of $986 million for Q2 2024, a decline of 5% year-over-year and roughly in line with Q1 revenue of $999 million [15] - ITS revenue was $561 million, down 9% from the prior year, while logistics revenue was $459 million, an increase of 1% year-over-year [15][16] - Operating income margin for the quarter was 4%, an increase of 30 basis points over Q1, with ITS operating margin at 2.4% and logistics operating margin at 5.6% [17] Business Line Data and Key Metrics Changes - Intermodal volume grew 8% year-over-year, with a 12% increase over Q1, driven by strong demand in the East and Mexico [10][15] - Dedicated business saw top-line momentum but faced profitability challenges due to investments in customer service during peak demand [6][11] - Logistics segment experienced revenue growth of 1%, with strong performance in Final Mile services contributing to margin improvements [12][15] Market Data and Key Metrics Changes - The domestic freight market remains competitive with balanced demand and excess supply, impacting pricing and margins [3][4] - Local East volumes increased by 26%, while Transcon volumes were up 1% year-over-year, indicating regional variations in performance [10][42] - Brokerage business faced a volume decline for the first time in several quarters, but margin expansion was noted due to improved productivity [13][71] Company Strategy and Development Direction - The company is focused on operational investments and maintaining best-in-class service to navigate the challenging market [8][9] - Hub Group's diversification strategy aims to stabilize margins and deepen customer value, with ongoing cost management efforts [8][20] - The company is exploring acquisition opportunities to enhance service offerings and scale, having successfully integrated the Final Mile acquisition [50][51] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued challenges in the freight market, with pricing pressures expected to persist through 2024 [20][21] - The company expects intermodal volume growth in the high single digits for the full year, but pricing is projected to decline in the mid-single digits [21][22] - Positive signs of market recovery are noted, with potential for increased demand and pricing power if conditions improve [39][40] Other Important Information - Hub Group generated strong free cash flow of $119 million year-to-date and returned $48 million to shareholders through dividends and stock repurchases [19][20] - The company ended the quarter with cash on hand of $220 million and a net debt of $94 million, indicating a strong financial position [19][20] Q&A Session Summary Question: Can you walk us through the monthly intermodal volumes and July volumes? - April volumes were up 12%, May up 9%, June up 2%, and July up 14% year-over-year, with yield down 17% in the quarter [24][25] Question: What causes the expectation of lower earnings in the second half of the year? - The freight market is challenging with competitive pricing and excess capacity impacting intermodal and brokerage lines [27][28] Question: How is the Final Mile integration progressing? - The integration is more than halfway complete, with ongoing cost efficiencies and pipeline growth expected to continue into 2025 [34] Question: What are the conditions that will drive pricing power in the intermodal portfolio? - A strong peak season, improved demand, and capacity attrition are key factors that could enhance pricing power [38][39] Question: How is the brokerage side performing amid revenue losses? - The brokerage team has maintained a 50-50 split between contract and spot markets, allowing flexibility to respond to customer needs [71] Question: How is customer retention and service sensitivity being managed? - Customer retention has been strong, with high service sensitivity leading to minimal contract churn [73]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 0-27754 HUB GROUP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I. ...

Hub Group (HUBG) reported $986.5 million in revenue for the quarter ended June 2024, representing a yearover-year decline of 5.2%. EPS of $0.47 for the same period compares to $0.72 a year ago. The reported revenue represents a surprise of -10.33% over the Zacks Consensus Estimate of $1.1 billion. With the consensus EPS estimate being $0.48, the EPS surprise was -2.08%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine thei ...

Hub Group (HUBG) came out with quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.72 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -2.08%. A quarter ago, it was expected that this transportation management company would post earnings of $0.40 per share when it actually produced earnings of $0.44, delivering a surprise of 10%. Over the last four qua ...

EXHIBIT 99.1 Hub Group Reports Second Quarter 2024 Results Highlights: Diluted earnings per share (EPS) of $0.47 for the quarter Second quarter revenue of $1.0 billion Quarterly operating income of $40 million or 4.0% of revenue Executing on Capital Allocation Plan by returning $48 million to shareholders year-to-date through dividend payments of $15 million and stock repurchases of $33 million Strong balance sheet with cash and cash equivalents of $220 million and net debt/EBITDA of 0.3x (non-GAAP) as of J ...

Highlights: Diluted earnings per share (EPS) of $0.47 for the quarter Second quarter revenue of $1.0 billion Quarterly operating income of $40 million or 4.0% of revenue Executing on Capital Allocation Plan by returning $48 million to shareholders year-to-date through dividend payments of $15 million and stock repurchases of $33 million Strong balance sheet with cash and cash equivalents of $220 million and net debt/EBITDA of 0.3x (non-GAAP) as of June 30, 2024 Awarded Domestic Partner of the Year by Target ...

Project will accelerate state and national clean hydrogen economy Supports energy transition efforts for entire value chain DALLAS, Aug. 1, 2024 /PRNewswire/ -- Jacobs (NYSE:J) was selected as Program Manager for the Alliance for Renewable Clean Hydrogen Energy Systems (ARCHES), a public private partnership (P3) establishing a statewide clean hydrogen hub (H2) in California, one of seven national hubs announced by the White House and recently granted funding by the U.S. Department of Energy Office of Clean ...