<SEC-DOCUMENT>0001171843-17-002326.txt : 20170426
<SEC-HEADER>0001171843-17-002326.hdr.sgml : 20170426
<ACCEPTANCE-DATETIME>20170426160316
ACCESSION NUMBER:		0001171843-17-002326
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170426
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170426
DATE AS OF CHANGE:		20170426

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:		17784332

	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_042617.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): <!--April 26, 2017-->April 26, 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>0-27754</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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[&#160;&#160;&#160;]</p><div style="margin-top: 12pt; margin-bottom: 3pt;"><div style="font-size: 1pt; border-top: Black 1.1pt solid; border-bottom: Black 2.5pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div>&#160;</div><hr style="page-break-after: always;" noshade="noshade"><p><font style="font-size: 10pt;">  <strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 2.02. Results of Operations and Financial Condition.</strong></font></p><p><font style="font-size: 10pt;"> <p>On&#160;April 26, 2017, Hub Group, Inc. issued a press release&#160;announcing&#160;its&#160;first quarter 2017 operating results. The press release is furnished as Exhibit 99.1 to this Form 8-K.</p> </font></p><p><font style="font-size: 10pt;"><strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 7.01. Regulation FD Disclosure.</strong></font></p><p><font style="font-size: 10pt;"> <p>On April 27, 2017, Hub Group, Inc. will make available on its website an Investor Presentation, which includes business information and first quarter 2017 results. The presentation can be accessed by going to <font>www.hubgroup.com</font>, selecting the &#8220;Investors&#8221; tab, and then selecting the &#8220;Presentations&#8221; tab. 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</TEXT>
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<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 First Quarter 2017 Results</strong></p><p style="text-align: center;"><p> <ul><li><strong>Revenue of $893.4 million, up 11%</strong></li><li><strong>Operating income of $17.2 million, down 40%</strong></li><li><strong>Diluted earnings per share of $0.31, down 39%</strong></li></ul>  <p align="justify">OAK BROOK, Ill., April  26, 2017  (GLOBE NEWSWIRE) -- Hub Group, Inc. (NASDAQ:HUBG) announced first quarter 2017 net income of $10.3 million, or diluted earnings per share of $0.31 vs. first quarter 2016 net income of $18.0 million, or $0.51 per diluted share.</p>  <p align="justify">Revenue for the current quarter was $893.4 million, compared with $805.9 million for the first quarter 2016. The Hub segment revenue increased 10% and the Mode segment revenue increased 16%.&#160; <br>Operating income for the current quarter decreased to $17.2 million vs. $28.8 million for the first quarter 2016. 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Intermodal gross margin decreased from the prior year because of lower prices and rail transportation cost increases.&#160;</p>  <p>Truck brokerage revenue increased 31% to $107 million this quarter compared to last year.&#160; Truck brokerage handled 19% more loads while fuel, price and mix combined were up 12%.&#160; Truck brokerage gross margin was up due to growth with both new and existing customers.&#160;</p>  <p>First quarter Unyson Logistics revenue increased 22% to $146 million due primarily to growth with new customers on-boarded last year and in the first quarter of this year.&#160; Unyson&#8217;s pipeline is exceeding the growth levels we experienced in 2016.&#160; Logistics gross margin increased primarily due to new customers.</p>  <p>Costs and expenses increased $3.6 million to $60.2 million in the first quarter of 2017 compared to $56.6 million in the first quarter of 2016.&#160; Salaries and benefits decreased $0.5 million due to a decrease in bonus expense partially offset by higher headcount and annual employee raises.&#160; General and administrative costs are $3.8 million higher because of an increase in IT costs including costs for our new transportation management and our human resource systems and professional fees related to due diligence for potential acquisitions.&#160;</p>  <p>Operating income was $11.6 million compared to $ 22.5 million last year.&#160;</p> <table style="border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; border-collapse: collapse; "><tr><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; "><strong>Mode</strong></td><td style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; "><strong>&#183; First quarter 2017 Segment Revenue: </strong></td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; vertical-align: bottom ; "><strong>$241.9 million, up 16%</strong></td></tr><tr><td style="vertical-align: bottom ; "><strong>&#183; First quarter 2017 Segment Operating Income:</strong></td><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; vertical-align: bottom ; "><strong>$5.6 million, down 12%</strong></td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td></tr></table> <p>The Mode segment&#8217;s revenue increased 16% to $242 million compared to first quarter 2016. &#160;&#160;Revenue consisted of $122 million in intermodal which was up 9%, $78 million in truck brokerage which was up 16% and $42 million in logistics which was up 43%.&#160;<br></p>  <p>Gross margin increased $0.5 million year over year due primarily to an increase in logistics gross margin resulting from new business.</p>  <p>Mode&#8217;s costs and expenses increased $1.3 million compared to last year primarily because of increased agent commissions.&#160; &#160;</p>  <p>Operating income was $5.6 million compared to $6.3 million last year.</p>  <p><strong>2017 Outlook</strong><br>We expect that our full-year 2017 diluted earnings per share will range from $1.60 to $1.80.&#160; We project that our 2017 capital expenditures will range from $90 million to $100 million.</p>  <p>&#8220;Despite the current challenging market conditions, we remain committed to our strategy to increase market share by providing multi-modal solutions to our clients.&#160; We are making strategic investments in our people and technology to strengthen our competitive position in the market,&#8221; said Dave Yeager, Hub&#8217;s Chairman and CEO.&#160; &#8220;In addition, we continue to search for acquisitions that will further diversify our service offerings.&#8221;</p>  <p><strong>Cash Flow and Capitalization:</strong></p>  <p align="justify">At March 31, 2017, we had total debt outstanding of $161 million on various debt instruments compared to $174 million at December 31, 2016.</p>  <p align="justify">Our capital expenditures for the quarter totaled $6.6 million related primarily to IT projects. 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Registrants will be issued a passcode and PIN to use when dialing into the live call which will provide quickest access to the conference.&#160; You may register at any time, including up to and after the call start time.&#160; On the day of the call, dial (888) 206-4064 approximately ten minutes prior to the scheduled call time; enter the participant passcode and PIN received during registration.&#160;&#160; The call will be limited to 60 minutes, including questions and answers.</p>  <p>An audio replay will be available through the Investors link on the Company's Web site at www.hubgroup.com. This replay will be available for 30 days.</p>  <p>On April 27, 2017, the company will make available on its website an Investor Presentation, which includes updated business information and first quarter results, among other things. The presentation can be accessed by going to www.hubgroup.com, selecting the &#8220;Investors&#8221; tab, and then selecting the &#8220;Presentations&#8221; tab. The presentation will be available on the company&#8217;s website until the next regular update.</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, and should be viewed with caution. Forward-looking statements may contain words such as &#8220;expects&#8221;, &#8220;expected&#8221;, &#8220;believe&#8221;, &#8220;projected&#8221;, &#8220;estimate&#8221;, or similar words, and are based on management's experience and perception of historical trends, current conditions, and anticipated future developments, as well as other factors believed to be appropriate. We believe these statements and the assumptions and estimates contained in this release are reasonable based on information that is currently available to us. 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-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">26,596</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">(7,493</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td></tr><tr><td colspan="8" style="vertical-align: bottom ; ">Cash and cash equivalents beginning of period</td><td style="vertical-align: bottom ; ">&#160;</td><td style="padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="padding-left: 0 ; padding-right: 0 ; text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">127,404</td><td style="padding-left: 0 ; 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">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr></table></p><p>CONTACT: Maralee Volchko of Hub Group, Inc., +1-630-271-3745</p></body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
