<SEC-DOCUMENT>0001171843-17-000649.txt : 20170202
<SEC-HEADER>0001171843-17-000649.hdr.sgml : 20170202
<ACCEPTANCE-DATETIME>20170202160125
ACCESSION NUMBER:		0001171843-17-000649
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170202
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170202
DATE AS OF CHANGE:		20170202

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Hub Group, Inc.
		CENTRAL INDEX KEY:			0000940942
		STANDARD INDUSTRIAL CLASSIFICATION:	ARRANGEMENT OF TRANSPORTATION OF FREIGHT & CARGO [4731]
		IRS NUMBER:				364007085
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27754
		FILM NUMBER:		17568260

	BUSINESS ADDRESS:	
		STREET 1:		2000 CLEARWATER DRIVE
		CITY:			OAK BROOK
		STATE:			IL
		ZIP:			60523
		BUSINESS PHONE:		6302713653

	MAIL ADDRESS:	
		STREET 1:		2000 CLEARWATER DRIVE
		CITY:			OAK BROOK
		STATE:			IL
		ZIP:			60523

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Hub Group
		DATE OF NAME CHANGE:	20160718

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HUB GROUP INC
		DATE OF NAME CHANGE:	19950313
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_020217.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html><head><title></title></head><body><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div></div><p style="text-align: center;"><font style="font-size: 14pt;"><strong>UNITED STATES</strong><br><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br><strong>Washington, D.C. 20549</strong><br>_____________________</font></p><p style="text-transform: uppercase; text-align: center;"><font style="font-size: 14pt;"><strong>Form 8-K</strong><br>_____________________</font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>CURRENT REPORT</strong></font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</strong></font></p><p align="center"><font style="font-size: 10pt;">Date of Report (Date of Earliest Event Reported): <!--February 2, 2017-->February 2, 2017 &#160;</font></p><p align="center"><font style="font-size: 12pt;"><strong>HUB GROUP, INC.</strong></font><br><font style="font-size: 10pt;">(Exact name of registrant as specified in its charter)</font></p><p align="center"><font style="font-size: 10pt;"><strong>Delaware<br></strong>(State or Other Jurisdiction of Incorporation)<strong><br></strong></font></p><p align="center">&#160;</p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td align="center" width="34%"><font style="font-size: 10pt;"><strong>000-27754</strong></font></td><td align="center" width="33%"><font style="font-size: 10pt;"><strong>36-4007085</strong></font></td></tr><tr valign="top"><td align="center" width="34%"><font style="font-size: 10pt;">(Commission File Number)</font></td><td align="center" width="33%"><font style="font-size: 10pt;">(I.R.S. 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Financial Statements and Exhibits.</strong></font></p><p><font style="font-size: 10pt;"><table width="103%" class="mce-item-table"><tr><td width="5%"><p>&#160;</p></td><td width="4%"><p><font style="font-size: 10pt;">(a)</font></p></td><td width="90%"><p><font style="font-size: 10pt;">Not Applicable.</font></p></td></tr><tr><td width="5%"><p>&#160;</p></td><td width="4%"><p><font style="font-size: 10pt;">(b)</font></p></td><td width="90%"><p><font style="font-size: 10pt;">Not Applicable.</font></p></td></tr><tr><td width="5%"><p>&#160;</p></td><td width="4%"><p><font style="font-size: 10pt;">(c)</font></p></td><td width="90%"><p><font style="font-size: 10pt;">Not Applicable.</font></p></td></tr><tr><td width="5%"><p>&#160;</p></td><td width="4%"><p><font style="font-size: 10pt;">(d)</font></p></td><td width="90%"><p><font style="font-size: 10pt;">A list of exhibits filed herewith is contained on the Exhibit Index which immediately precedes such exhibits and is incorporated herein by reference.</font></p></td></tr></table><div id="mceResizeHandlen" class="mce-resizehandle" style="cursor: n-resize; margin: 0px; padding: 0px; left: 522.319px; top: 4.48611px;"></div><div id="mceResizeHandlee" class="mce-resizehandle" style="cursor: e-resize; margin: 0px; padding: 0px; left: 1041.15px; top: 93.375px;"></div><div id="mceResizeHandles" class="mce-resizehandle" style="cursor: s-resize; margin: 0px; padding: 0px; left: 522.319px; top: 182.264px;"></div><div id="mceResizeHandlew" class="mce-resizehandle" style="cursor: w-resize; margin: 0px; padding: 0px; left: 4.48611px; top: 93.375px;"></div><div id="mceResizeHandlenw" class="mce-resizehandle" style="cursor: nw-resize; margin: 0px; padding: 0px; left: 4.48611px; top: 4.48611px;"></div><div id="mceResizeHandlene" class="mce-resizehandle" style="cursor: ne-resize; margin: 0px; padding: 0px; left: 1041.15px; top: 4.48611px;"></div><div id="mceResizeHandlese" class="mce-resizehandle" style="cursor: se-resize; margin: 0px; padding: 0px; left: 1041.15px; top: 182.264px;"></div><div id="mceResizeHandlesw" class="mce-resizehandle" style="cursor: sw-resize; margin: 0px; padding: 0px; left: 4.48611px; top: 182.264px;"></div></font></p><p><font style="font-size: 10pt;"></font></p><p><font style="font-size: 10pt;"></font></p><hr style="page-break-after: always;" noshade="noshade"><p align="center"><font style="font-size: 10pt;"><strong>SIGNATURE</strong></font></p><p><font style="font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td valign="top" width="49%"><font style="font-size: 10pt;">&#160;</font></td><td style="font-size: 12pt;" colspan="2" valign="top"><font style="font-size: 10pt;"><strong>HUB GROUP, INC.</strong></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">Date: February 2, 2017</font></td><td width="2%"><font style="font-size: 10pt;">By:&#160;</font></td><td style="text-decoration: underline;" width="49%"><font style="font-size: 10pt;">/s/ Terri A. 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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252"><meta name="GENERATOR" content="MSHTML 8.00.7601.18094"></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><strong>Hub Group, Inc. Reports Fourth Quarter and Full Year 2016 Results</strong></p><p style="text-align: center;"><p> <p><strong><u>Fourth Quarter Results</u></strong></p>  <ul><li><strong>Revenue of $978.6 million increased 10%</strong><br></li><li><strong>Operating income totaled $30.8 million, down 13%</strong><br></li><li><strong>Diluted earnings per share of $0.55 declined 13%</strong></li></ul>  <p><strong><u>Full Year 2016 Results</u></strong></p>  <ul type="disc"><li><strong>Revenue of $3.6 billion increased 1%</strong></li><li><strong>Operating income totaled $123.8 million, up 6%</strong></li><li><strong>Diluted earnings per share of $2.20 increased 12%</strong></li></ul>  <p align="justify">OAK BROOK, Ill., Feb.  02, 2017  (GLOBE NEWSWIRE) --  Hub Group, Inc. (NASDAQ:HUBG) announced fourth quarter 2016 net income of $18.2 million, or diluted earnings per share of $0.55 vs. fourth quarter 2015 net income of $22.4 million, or $0.63 per diluted share.</p>  <p align="justify">Revenue for the current quarter was $978.6 million, compared with $890.3 million for the fourth quarter 2015. The Hub segment revenue increased 13% and the Mode segment revenue increased 6%.&#160; <br>Operating income for the current quarter decreased to $30.8 million vs. $35.3 million for the fourth quarter 2015. The Hub segment operating income declined 14% and the Mode segment operating income decreased 6%.&#160; &#8220;The above market revenue increase is the result of our on-going focus on excellent customer service.&#160; The operating income decline was driven by our strategic investments in our people and technology.&#160; We believe these investments provide a solid foundation for the future,&#8221; said Dave Yeager, Hub&#8217;s Chairman and CEO.&#160;</p>  <p><strong>Segment Information:</strong></p>  <p><strong>Hub</strong><br></p>  <ul><li><strong>Fourth quarter 2016 Segment Revenue:&#160;&#160;&#160;&#160;&#160;&#160; $754.1 million, up 13%</strong><br></li><li><strong>Fourth quarter 2016 Operating Income:&#160;&#160;&#160;&#160;&#160;&#160; $24.3 million, down 14%</strong><br></li></ul>  <p>The fourth quarter started out slowly but gained momentum as the quarter progressed.&#160; We were successful executing our strategy of targeting specific verticals and customers and providing our customers with multimodal solutions.&#160; This resulted in growth in all of our service lines.&#160; The Hub segment&#8217;s revenue increased 13% to $754.1 million as a result of our diversified services and our customer-centric approach.&#160;</p>  <p>Fourth quarter intermodal revenue increased 5% to $468 million reflecting volume growth of 5%.&#160; Intermodal gross margin decreased from the prior year because of lower prices than last year and rail cost increases.&#160; Volume growth, lower dray costs and improved mix and lane balance partially offset the decline.&#160;</p>  <p>Truck brokerage revenue increased 46% to $130 million this quarter compared to last year.&#160; Truck brokerage handled 33% more loads while fuel, price and mix combined were up 13%.&#160; During the quarter, we saw surges in demand from retail and e-commerce customers.&#160; We are well positioned to handle surge freight.&#160; Truck brokerage gross margin increased because of an increase in new business and seasonal business.&#160;</p>  <p>Fourth quarter Unyson Logistics revenue increased 17% to $156 million due primarily to growth with new customers on-boarded this year.&#160; This year we had a record number of new customer on-boardings.&#160; Logistics gross margin was up due to growth with both new and existing customers.&#160;</p>  <p>Costs and expenses increased $8.6 million to $64.5 million in the fourth quarter of 2016 compared to $55.9 million in the fourth quarter of 2015.&#160; Salaries and benefits increased $6.4 million due to higher headcount, annual employee raises and an increase in bonus expense.&#160; General and administrative costs are $1.9 million higher because of an increase in IT costs including costs for our new transportation management system and our new human resource system and an increase in professional fees.&#160;</p>  <p>Operating income was $24.3 million compared to $ 28.4 million last year.&#160;</p>  <p><strong>Mode</strong><br></p>  <ul><li><strong>Fourth quarter 2016 Segment Revenue: &#160;&#160;&#160;&#160;&#160; $256.4 million, up 6%</strong><br></li><li><strong>Fourth quarter 2016 Operating Income:&#160;&#160;&#160;&#160;&#160;&#160; $6.5 million, down 6%</strong><br></li></ul>  <p>Mode managed through a competitive environment and saw revenue increase 6% to $256 million compared to fourth quarter 2015. &#160;&#160;Revenue consisted of $131 million in intermodal which was flat, $80 million in truck brokerage which was up 4% and $45 million in logistics which was up 33%.&#160; Mode has made great strides in cross selling our services.&#160;</p>  <p>Gross margin decreased $0.8 million year over year due primarily to a decrease in intermodal gross margin.</p>  <p>Mode&#8217;s costs and expenses decreased $0.4 million compared to last year primarily because of a decline in agent commissions.&#160; &#160;</p>  <p>Mode added 3 new IBO&#8217;s to the network during the quarter along with 23 salespeople.&#160; Mode&#8217;s pipeline remains strong for new recruits in 2017.</p>  <p>Operating income was $6.5 million compared to $6.9 million last year.</p>  <p><strong>2017 Outlook</strong><br>&#8220;We are pleased with the results for 2016 and the progress we have made on our goals and objectives.&#160; Looking to 2017, we remain committed to our strategy to increase market share by providing multimodal solutions for our customers,&#8221; said Dave Yeager.&#160; &#8220;We are optimistic about growing all our service lines as we focus on targeted growth initiatives.&#160; To support this growth, we will be increasing our fleet 10% and investing in technology to help us exceed customer expectations and improve operating efficiencies.&#8221;</p>  <p><strong>Cash Flow and Capitalization:</strong></p>  <p align="justify">At December 31, 2016, we had total debt outstanding of $174 million on various debt instruments compared to $149 million at December 31, 2015.</p>  <p align="justify">Our capital expenditures for 2016 approximated $107 million vs. $83 million in 2015. 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This replay will be available for 30 days.</p>  <p>CERTAIN FORWARD-LOOKING STATEMENTS: Statements in this press release that are not historical, including statements about Hub Group's or management's earnings guidance, intentions, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently uncertain and subject to risks. Such statements should be viewed with caution. Actual results or experience could differ materially from the forward-looking statements as a result of many factors. 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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
