HUBGHIGH SIGNALFINANCIAL10-K

HUBG shows severe operational deterioration with net income down 38% and operating cash flow plummeting 54% despite gross profit growth, indicating significant margin compression and cash generation problems.

The dramatic disconnect between growing gross profit (+48%) and collapsing net income (-38%) and operating cash flow (-54%) suggests serious operational inefficiencies or one-time charges that are severely impacting profitability. The company's reduced share buyback activity and significant cash position decline indicate management is conserving capital amid these financial pressures.

Comparing 2025-02-25 vs 2024-02-27View on EDGAR →
FINANCIAL ANALYSIS

HUBG experienced a troubling year with massive operational deterioration despite revenue growth, as evidenced by net income falling 38% and operating cash flow collapsing 54% even while gross profit surged 48%. The company significantly reduced capital expenditures (-64%) and share buybacks (-53%) while burning through nearly half its cash position, suggesting aggressive cost-cutting measures and capital conservation efforts. The doubling of interest expense combined with debt reduction indicates potential refinancing at higher rates, while the overall picture signals a company struggling with profitability and cash generation despite top-line growth.

FINANCIAL STATEMENT CHANGES
Interest Expense
P&L
+102.6%
$6.6M$13.4M

Interest expense surged 102.6% — significant debt increase or rising rates materially impacting earnings.

Capital Expenditure
Cash Flow
-63.7%
$140.1M$50.8M

Capex reduced 63.7% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Operating Cash Flow
Cash Flow
-53.9%
$422.2M$194.4M

Operating cash flow fell 53.9% — earnings quality concerns; investigate working capital changes and non-cash items.

Share Buybacks
Cash Flow
-52.5%
$143.8M$68.3M

Buyback activity reduced 52.5% — capital being redeployed elsewhere or cash conservation underway.

Gross Profit
P&L
+48.3%
$599.6M$889.5M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Cash & Equivalents
Balance Sheet
-47.5%
$187.3M$98.2M

Cash declined 47.5% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Net Income
P&L
-37.9%
$167.5M$104.0M

Net income declined 37.9% — review whether driven by operations, interest costs, or non-recurring items.

Operating Income
P&L
-33.9%
$212.2M$140.3M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Total Debt
Balance Sheet
-24.6%
$350.7M$264.4M

Debt reduced 24.6% — deleveraging strengthens balance sheet and reduces financial risk.

Current Liabilities
Balance Sheet
-12%
$658.2M$579.5M

Current liabilities reduced — improved short-term financial position and working capital health.

LANGUAGE CHANGES
NEW — 2025-02-25
PRIOR — 2024-02-27
ADDED
On February 18, 2025 , the Registrant had 60,927,849 outstanding shares of Class A Common Stock, par value $.01 per share, and 574,903 outstanding shares of Class B Common Stock, par value $.01 per share.
We have two reportable segments: Intermodal and Transportation Solutions ( ITS ) and Logistics which are based primarily on the services each segment provides.
Our Logistics segment includes full outsource logistics solutions, transportation management services, consolidation and fulfillment services and final mile delivery services.
Our recent strategic transactions include the following: EASO Transaction.
On October 23, 2024, we entered into an investment agreement with Corporaci n Interamericana de Log stica, S.A.
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REMOVED
On February 16, 2024 , the Registrant had 62,252,354 outstanding shares of Class A Common Stock, par value $.01 per share, and 574,903 outstanding shares of Class B Common Stock, par value $.01 per share.
As we have continued to expand our service offerings and diversify our business, we have also made changes to the financial information that our CEO, who has been identified as our Chief Operating Decision Maker (CODM), uses to make operating and capital decisions.
Beginning in the first quarter of 2023, we concluded that we have two reportable segments: Intermodal and Transportation Solutions ( ITS ) and Logistics which are based primarily on the services each segment provides.
We have recast the prior period information to conform with current year presentation.
Our Logistics segment includes full outsource logistics solutions, transportation management services, freight consolidation, warehousing and fulfillment, and final mile delivery services.
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