NOTE 2. Earnings Per Share

The Company has two classes of common stock, Class A and Class B, both of which have identical rights to dividends and share equally in the earnings of the Company. Accordingly, the Company presents a single calculation of basic and diluted earnings per share for both classes in accordance with the guidance in ASC 260 “Earnings Per Share”.

The following is a reconciliation of our earnings per share (in thousands, except for per share data):


	Three Months Ended June 30,					Six Months Ended June 30,
	2025			2024		2025		2024

Net income for basic and diluted earnings per share	$	25,031		$	29,015	$	52,226	$	56,068

Less: net (loss) income attributable to non-controlling interests		(216	)		-		131		-

Net income attributable to Hub Group, Inc.	$	25,247		$	29,015	$	52,095	$	56,068

Weighted average shares outstanding - basic		60,002			60,710		60,096		61,018

Dilutive effect of restricted stock		208			398		218		369

Weighted average shares outstanding - diluted		60,210			61,108		60,314		61,387

Earnings per share - basic	$	0.42		$	0.48	$	0.87	$	0.92

Earnings per share - diluted	$	0.42		$	0.47	$	0.86	$	0.91