Interim Financial Statements	9 Months Ended
Sep. 30, 2025
Quarterly Financial Information Disclosure [Abstract]
Interim Financial Statements	NOTE 1. Interim Financial Statements Our accompanying unaudited condensed consolidated financial statements of Hub Group, Inc. (the “Company,” “Hub,” “we,” “us” or “our”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements have been omitted pursuant to those rules and regulations. However, we believe that the disclosures contained herein are adequate to make the information presented not misleading. The financial statements reflect, in our opinion, all material adjustments (which include only normal recurring adjustments) necessary to fairly present our financial position as of September 30, 2025 and results of operations for the three and nine months ended September 30, 2025 and 2024. These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024 (the “2024 10-K”). Results of operations in interim periods are not necessarily indicative of results to be expected for a full year due partially to seasonality. In October 2023, the Board authorized the purchase of up to $250 million of our Class A Common Stock pursuant to a share repurchase program. During the quarter ended September 30, 2025, we did not purchase any shares. During the nine months ended September 30, 2025, we purchased 330,441 shares for approximately $13.8 million. On March 5, 2025, May 13, 2025, and August 29, 2025 the Board declared quarterly cash dividends of $0.125 per share on the Company’s Class A and Class B common stock. The dividends were paid on March 28, 2025 to stockholders of record as of March 18, 2025, June 30, 2025 to stockholders of record as of June 23, 2025, and September 24, 2025 to stockholders of record as of September 12, 2025. The declaration and payment of the quarterly cash dividends were subject to the approval of the Board at its sole discretion and in compliance with applicable laws and regulations. The Company routinely evaluates the useful life attributed to its assets. During the third quarter ended September 30, 2025, the Company determined that the useful lives of certain transportation equipment should be increased to 25 years based on historical experience related to the use of this equipment and our expectation of its future usability. The Company accounted for these items as a change in estimate that was applied prospectively, effective as of July 1, 2025. During the first quarter, the Company determined that the useful lives of certain computer software should be increased to 7 or 10 years based on historical experience related to the use of this software and our expectation of its future usability. The Company accounted for these items as a change in estimate that was applied prospectively, effective as of January 1, 2025. These changes in estimate resulted in a reduction of depreciation expense of $2.1 million and $4.5 million, an increase to net income of $1.6 million and $3.4 million, and an increase in both basic and diluted earnings per share of $0.03 and $0.06, during the three months ended September 30, 2025 and nine months ended September 30, 2025, respectively.

Interim Financial Statements

9 Months Ended

Sep. 30, 2025

Quarterly Financial Information Disclosure [Abstract]

NOTE 1. Interim Financial Statements

Our accompanying unaudited condensed consolidated financial statements of Hub Group, Inc. (the “Company,” “Hub,” “we,” “us” or “our”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements have been omitted pursuant to those rules and regulations. However, we believe that the disclosures contained herein are adequate to make the information presented not misleading.

The financial statements reflect, in our opinion, all material adjustments (which include only normal recurring adjustments) necessary to fairly present our financial position as of September 30, 2025 and results of operations for the three and nine months ended September 30, 2025 and 2024.

These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024 (the “2024 10-K”). Results of operations in interim periods are not necessarily indicative of results to be expected for a full year due partially to seasonality.

In October 2023, the Board authorized the purchase of up to $250 million of our Class A Common Stock pursuant to a share repurchase program. During the quarter ended September 30, 2025, we did not purchase any shares. During the nine months ended September 30, 2025, we purchased 330,441 shares for approximately $13.8 million.

On March 5, 2025, May 13, 2025, and August 29, 2025 the Board declared quarterly cash dividends of $0.125 per share on the Company’s Class A and Class B common stock. The dividends were paid on March 28, 2025 to stockholders of record as of March 18, 2025, June 30, 2025 to stockholders of record as of June 23, 2025, and September 24, 2025 to stockholders of record as of September 12, 2025. The declaration and payment of the quarterly cash dividends were subject to the approval of the Board at its sole discretion and in compliance with applicable laws and regulations.

The Company routinely evaluates the useful life attributed to its assets. During the third quarter ended September 30, 2025, the Company determined that the useful lives of certain transportation equipment should be increased to 25 years based on historical experience related to the use of this equipment and our expectation of its future usability. The Company accounted for these items as a change in estimate that was applied prospectively, effective as of July 1, 2025. During the first quarter, the Company determined that the useful lives of certain computer software should be increased to 7 or 10 years based on historical experience related to the use of this software and our expectation of its future usability. The Company accounted for these items as a change in estimate that was applied prospectively, effective as of January 1, 2025. These changes in estimate resulted in a reduction of depreciation expense of $2.1 million and $4.5 million, an increase to net income of $1.6 million and $3.4 million, and an increase in both basic and diluted earnings per share of $0.03 and $0.06, during the three months ended September 30, 2025 and nine months ended September 30, 2025, respectively.