HUB Group Inc - HUBG STOCK NEWS

Hub Group reported a strong fourth quarter for 2020, achieving 6% revenue growth to $953 million and net income of $22.4 million, or $0.67 per diluted share. Key growth drivers included a 9% increase in intermodal volume, despite challenges such as lower pricing and increased transportation costs. The company also executed its long-term strategy by acquiring last mile delivery firm NonStopDelivery for $90 million, enhancing service offerings. However, operating income fell to $31 million, down from $39 million year-over-year.

Hub Group, Inc. (Nasdaq: HUBG) announces a conference call scheduled for February 4, 2021, at 5:00 p.m. Eastern Time to discuss its fourth quarter 2020 results. The results will be released after the market closes on the same day. Key executives, including Dave Yeager and Phil Yeager, will participate in the call. Interested parties can access the call via a webcast on Hub Group’s website. An audio replay will be available for 30 days post-call.

With approximately $4 billion in revenue in 2019, Hub Group provides multi-modal transportation services across North America.

Hub Group (NASDAQ: HUBG) announced on December 17, 2020, that it received the SDCE Green Supply Chain Award and was listed among Food Logistics 100+ Top Software and Technology Providers. The SDCE award recognizes firms promoting sustainability in supply chains, while the Food Logistics list honors leading technology providers crucial for a reliable food and beverage supply chain. Hub Group's commitment to sustainability aims to enhance operational efficiency and reduce carbon footprint, reflecting a broader initiative to achieve measurable sustainability goals.

On December 15, 2020, Hub Group (NASDAQ: HUBG) announced its recognition as the 2019 Intermodal Carrier of the Year by KBX Logistics/Georgia-Pacific. The award highlights Hub Group's exceptional on-time performance, diverse services, and overall growth. Paul Snider, President of KBX Logistics, noted Hub Group's volume performance in 2020 while expressing optimism for future collaboration post-pandemic. Hub Group has partnered with KBX Logistics/Georgia-Pacific since 1981, focusing on innovative supply chain solutions and capacity delivery.

Hub Group, Inc. has acquired NonstopDelivery, LLC to enhance its last mile logistics solutions, crucial for providing end-to-end services in a fast-growing sector. The acquisition is anticipated to be accretive to Hub's earnings in 2021 and boosts the company's offerings by adding residential delivery capabilities nationwide. NSD operates through a non-asset model, ensuring high service levels for large retailers across the U.S. Hub Group aims to leverage NSD’s expertise and existing technology to optimize its supply chain solutions.

Hub Group (NASDAQ: HUBG) has received the 2020 Humanitarian Logistic Award from the American Logistics Aid Network for its commitment during the COVID-19 pandemic. The company donated 211 refrigerated trailers to 59 non-profit organizations, providing over 9 million cubic feet of cold storage, equivalent to two average-sized warehouses. This initiative supported increased food distribution, benefiting communities affected by job losses. Hub Group emphasizes its focus on sustainability and community support as integral to its operations.

Hub Group reported a third-quarter net income of $24.8 million, or $0.74 diluted EPS, marking a decrease from $26.1 million in Q3 2019. Revenue rose by 1% to $925 million, with intermodal volume increasing 9% but logistics revenue fell 7%. Operating income declined to $34 million, influenced by lower prices and increased costs. The company generated EBITDA of $64 million and maintained strong liquidity with $185 million in cash. Capital expenditures for 2020 are projected between $70 million and $75 million to support growth and fleet renewal.

Hub Group, Inc. (Nasdaq: HUBG) will host a conference call on October 29, 2020, at 5:00 p.m. ET to discuss its third-quarter 2020 results, which will be announced following market close. The call will be led by CEO Dave Yeager, with participation from COO Phil Yeager and CFO Geoff DeMartino. Interested parties can access the call via webcast on Hub Group's website. A replay will be available for 30 days post-call. Hub Group reported approximately $4 billion in revenue for 2019, providing multi-modal transportation services across North America.