$HUBG

Hub Group, Inc.

CIK:0000940942|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Statement [Abstract]
Operating revenue	$ 934,496	$ 986,892	$ 2,755,360	$ 2,972,880
Operating expenses:
Purchased transportation and warehousing	683,657	739,995	1,997,484	2,207,403
Salaries and benefits	143,085	142,948	435,809	429,300
Depreciation and amortization	31,390	32,386	96,356	108,489
Insurance and claims	10,338	10,217	31,864	35,474
General and administrative	27,128	29,674	83,198	84,785
(Gain) on sale of assets, net	(545)	(427)	(480)	(1,337)
Total operating expenses	895,053	954,793	2,644,231	2,864,114
Operating income	39,443	32,099	111,129	108,766
Other income (expense):
Interest expense	(3,025)	(3,582)	(9,420)	(11,170)
Interest income	1,364	2,249	3,638	5,450
Other, net	735	(23)	1,758	(259)
Total other expense, net	(926)	(1,356)	(4,024)	(5,979)
Income before provision for income taxes	38,517	30,743	107,105	102,787
Provision for income taxes	9,589	7,140	25,952	23,116
Net income	28,928	23,603	81,153	79,671
Less: net income attributable to non-controlling interests	374	0	505	0
Net income attributable to Hub Group, Inc.	$ 28,554	$ 23,603	$ 80,648	$ 79,671
Earnings per share net income
Basic earnings per common share	$ 0.48	$ 0.39	$ 1.34	$ 1.31
Diluted earnings per common share	$ 0.47	$ 0.39	$ 1.34	$ 1.3
Basic weighted average number of shares outstanding	60,006	60,374	60,066	60,803
Diluted weighted average number of shares outstanding	60,333	60,949	60,321	61,241

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash flows from operating activities:
Net income	$ 81,153	$ 79,671
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles and right-of-use assets	140,836	145,474
Deferred taxes	6,341	(11,652)
Non-cash share-based compensation expense	14,391	14,695
Gain on sale of assets, net	(480)	(1,337)
Changes in operating assets and liabilities, net of acquisitions:
Restricted investments	942	(579)
Accounts receivable, net	(10,106)	22,967
Prepaid taxes	2,410	6,305
Prepaid expenses and other current assets	11,252	11,210
Other non-current assets	(5,044)	(2,083)
Accounts payable	(37,033)	(29,520)
Accrued expenses	(10,187)	(10,106)
Non-current liabilities	(34,842)	(31,230)
Net cash provided by operating activities	159,633	193,815
Cash flows from investing activities:
Proceeds from sale of equipment	6,836	9,792
Purchases of property and equipment	(39,190)	(43,220)
Acquisition of container assets	(53,427)	0
Acquisitions, net of cash acquired	(1,259)	3,701
Net cash used in investing activities	(87,040)	(29,727)
Cash flows from financing activities:
Repayments of long-term debt	(76,953)	(81,356)
Purchase of treasury stock	(13,814)	(68,273)
Dividends paid	(22,500)	(22,733)
Stock withheld for payments of withholding taxes	(6,775)	(9,064)
Finance lease payments	(494)	(1,532)
Proceeds from issuance of debt	67,385	17,764
Net cash used in financing activities	(53,151)	(165,194)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	115	(25)
Net increase(decrease) in cash and cash equivalents and restricted cash	19,557	(1,131)
Cash and cash equivalents and restricted cash beginning of the period	126,948	187,270
Cash and cash equivalents and restricted cash end of the period	146,505	186,139
Supplemental disclosures of cash paid for:
Interest	9,176	11,301
Income taxes paid, net	$ 17,007	$ 28,406

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 119,699	$ 98,248
Restricted cash	26,806	28,700
Accounts receivable trade, net	592,202	581,516
Accounts receivable other	13,578	10,880
Prepaid taxes	12,890	15,115
Prepaid expenses and other current assets	23,158	33,870
TOTAL CURRENT ASSETS	788,333	768,329
Restricted investments	20,700	21,642
Property and equipment, net	764,386	739,896
Right-of-use assets - operating leases	231,588	233,651
Right-of-use assets - financing leases	563	1,062
Other intangibles, net	251,892	267,357
Goodwill	818,150	814,309
Other non-current assets	25,109	22,097
TOTAL ASSETS	2,900,721	2,868,343
CURRENT LIABILITIES:
Accounts payable trade	243,415	279,982
Accounts payable other	30,244	29,069
Accrued payroll	34,511	32,833
Accrued other	85,672	91,441
Lease liability - operating leases	46,205	45,492
Lease liability - financing leases	434	663
Current portion of long-term debt	94,520	100,001
TOTAL CURRENT LIABILITIES	535,001	579,481
Deferred consideration	28,579	30,639
Long-term debt	160,479	164,361
Other non-current liabilities	51,786	51,004
Lease liability - operating leases	197,057	197,664
Lease liability - financing leases	64	330
Deferred taxes	172,200	152,913
STOCKHOLDERS' EQUITY:
Preferred stock, $.01 par value; 2,000,000 shares authorized; no shares issued or outstanding in 2025 and 2024.	0	0
Additional paid-in capital	222,446	222,039
Retained earnings	2,080,174	2,022,265
Accumulated other comprehensive gain (loss)	4,255	(1,453)
Treasury stock; at cost, 11,695,837 shares in 2025 and 11,556,483 shares in 2024	(605,188)	(598,583)
Total Hub Group, Inc. equity	1,702,416	1,644,997
Non-controlling interests	53,139	46,954
TOTAL STOCKHOLDERS' EQUITY	1,755,555	1,691,951
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,900,721	2,868,343
Class A Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	723	723
Class B Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	$ 6	$ 6