Hub Group, Inc. Reports Third Quarter 2009 Earnings

DOWNERS GROVE- Hub Group, Inc. today reported income for the quarter ended September 30, 2009 of $9.8 million. Hub Group's diluted earnings per share was $0.26 for the third quarter of 2009.

Hub Group's revenue of $389 million was down 24% compared to $514 million in the third quarter of 2008. Third quarter intermodal revenue decreased 27% to $270 million. The decrease was attributable to 9% lower volume, 12% lower fuel and a 6% decrease for price and mix. Truck brokerage revenue decreased 27% to $74 million this quarter. Third quarter logistics revenue increased 2% to $45 million.

Hub Group ended the quarter with $123 million in cash.

"We think that the third quarter results were reasonable considering the economic environment. During this downturn, we have focused on reducing our costs and believe that the efficiencies we have realized will continue to improve our competitive position as the economy recovers," said David P. Yeager, Chairman and Chief Executive Officer.