HUBG - Hub Group GAAP EPS of $0.97 misses by $0.21 revenue of $1B misses by $20M

2023-10-26 16:23:02 ET

• Hub Group press release ( NASDAQ: HUBG ): Q3 GAAP EPS of $0.97 misses by $0.21 .
• Revenue of $1B (-28.6% Y/Y) misses by $20M .
• New $250 million share repurchase plan, replacing the remaining availability under the current authorization.
• Initiation of a quarterly cash dividend program, initially set at $0.50 per share per year, which Hub Group’s Board of Directors intends to begin in first quarter 2024.
• 2:1 Stock split effectuated through a stock dividend in January 2024 designed to improve market liquidity and trading performance.
• Expect our 2023 diluted earnings per share will range from $5.30 to $5.40.
• Estimate 2023 revenue will be approximately $4.2 billion.

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