Hub Group, Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>Hub Group, Inc. has filed its 2023 10-K annual report detailing financial performance and business operations.</b>

AI Summary

Hub Group, Inc. (HUBG) filed a Annual Report (10-K) with the SEC on February 27, 2024. Hub Group, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing details financial performance and business operations for the period. Key financial data and disclosures are provided for the fiscal year 2023. The report includes information on various segments, including Intermodal transportation. Hub Group, Inc. is incorporated in Illinois and operates in freight and cargo arrangement.

Why It Matters

For investors and stakeholders tracking Hub Group, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Hub Group's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors to assess the company's performance and future outlook. The detailed financial statements and disclosures within the report are essential for understanding the company's revenue streams, profitability, debt levels, and overall market position in the transportation and logistics sector.

Risk Assessment

Risk Level: medium — Hub Group, Inc. shows moderate risk based on this filing. The company operates in the transportation and logistics sector, which is subject to economic fluctuations, regulatory changes, and competitive pressures, as evidenced by the detailed risk factors section in the 10-K.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Hub Group's performance and potential challenges in the evolving logistics market.

Key Numbers

• 2023-12-31 — Fiscal Year End (The end date of the reporting period.)
• 2024-02-27 — Filing Date (The date the 10-K was filed with the SEC.)
• 97 — Public Document Count (Number of documents included in the filing.)

Key Players & Entities

• Hub Group, Inc. (company) — Filer of the 10-K report.
• 2023-12-31 (date) — Fiscal year end date.
• 2024-02-27 (date) — Filing date of the report.
• Oak Brook, IL (location) — Business and mailing address.
• 4731 (industry_code) — Standard Industrial Classification for Arrangement of Transportation of Freight & Cargo.

FAQ

Risk Factors

• Market and Economic Conditions [medium — market]: The company's business is sensitive to general economic conditions, which can impact freight volumes and pricing.
• Dependence on Third-Party Capacity Providers [medium — operational]: Hub Group relies on third-party carriers for a significant portion of its transportation services, creating potential capacity and cost risks.
• Regulatory Compliance [medium — regulatory]: The transportation industry is subject to extensive federal, state, and international regulations that can affect operating costs and compliance requirements.

Industry Context

Hub Group operates within the transportation and logistics industry, focusing on arranging freight movement through various modes, including intermodal, truckload, and less-than-truckload services.

Regulatory Implications

The transportation sector is heavily regulated by agencies such as the Department of Transportation (DOT) and the Federal Motor Carrier Safety Administration (FMCSA), impacting operational standards and compliance.

What Investors Should Do

1. Analyze the detailed financial statements for revenue trends, profitability, and cost management.
2. Evaluate the identified risk factors, particularly those related to market conditions and reliance on third-party capacity.
3. Compare key performance metrics against industry benchmarks and historical company performance.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-27: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is the annual 10-K report for the fiscal year ending December 31, 2023, providing a comprehensive update compared to previous filings.

Key Financial Figures

• $0.01 — tered Class A Common Stock, par value $0.01 per share HUBG NASDAQ Securities
• $40.16 — e on the NASDAQ Global Select Market of $40.16 per share, was $ 2,487,094,182 . On F
• $4 billion — founded in 1971. Today we generate over $4 billion in annual revenue, having grown through

Filing Documents

• hubg-20231231.htm (10-K) — 2592KB
• hubg-ex4.htm (EX-4) — 26KB
• hubg-ex10_1.htm (EX-10.1) — 118KB
• hubg-ex21.htm (EX-21) — 22KB
• hubg-ex23_1.htm (EX-23.1) — 7KB
• hubg-ex31_1.htm (EX-31.1) — 13KB
• hubg-ex31_2.htm (EX-31.2) — 14KB
• hubg-ex32_1.htm (EX-32.1) — 7KB
• hubg-ex97.htm (EX-97) — 46KB
• img266965785_0.jpg (GRAPHIC) — 273KB
• 0000950170-24-021432.txt (&nbsp;) — 12312KB
• hubg-20231231.xsd (EX-101.SCH) — 1678KB
• hubg-20231231_htm.xml (XML) — 2242KB

Risk Factors

Item 1A Risk Factors 7

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 17

Cybersecurity

Item 1C Cybersecurity 17

Properties

Item 2 Properties 18

Legal Proceedings

Item 3 Legal Proceedings 18

Mine Safe Disclosures

Item 4 Mine Safe Disclosures 18 PART II 18

Market For Registrant's Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 Market For Registrant's Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities 18

Reserved

Item 6 Reserved 20

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 7A Quantitative and Qualitative Disclosures About Market Risk 29

Financial Statements and Supplemental Data

Item 8 Financial Statements and Supplemental Data 30 1 PART I

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS

BUSINESS

Item 1. BUSINESS General Hub Group, Inc. (the "Company", "Hub", "we", "us" or "our") is a leading supply chain solutions provider that offers comprehensive transportation and logistics management services focused on reliability, visibility and value for our customers. Our mission is to continuously elevate each customer's business to drive long term success. Our vision is to build the industry's premier supply chain solution. Our service offerings include a full range of freight transportation and logistics services, some of which are provided using assets we own and operate, and some of which are provided by third parties with whom we contract. As we have continued to expand our service offerings and diversify our business, we have also made changes to the financial information that our CEO, who has been identified as our Chief Operating Decision Maker (CODM), uses to make operating and capital decisions. Beginning in the first quarter of 2023, we concluded that we have two reportable segments: Intermodal and Transportation Solutions ("ITS") and Logistics which are based primarily on the services each segment provides. We have recast the prior period information to conform with current year presentation. Our ITS segment includes our intermodal and dedicated trucking. Our Logistics segment includes full outsource logistics solutions, transportation management services, freight consolidation, warehousing and fulfillment, and final mile delivery services. Logistics also includes our brokerage business which provides third-party truckload, less-than-truckload ("LTL"), flatbed and temperature-controlled needs. We are one of the largest freight transportation providers in North America. Hub services a large and diversified customer base in a broad range of industries, including retail, consumer products, automotive and durable goods. We believe our strategy to offer multi-modal supply chain management solutions serves to strengthen and deepen our relationships with

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View this 10-K filing on SEC EDGAR