Hub Group, Inc. Provides 2013 Earnings Update
DOWNERS GROVE, Ill., Oct. 9, 2013 /PRNewswire/ -- Hub Group, Inc. (NASDAQ: HUBG), a leading provider of intermodal, highway and logistics services, announced today that it expects diluted earnings per share for the quarter ended September 30, 2013 to be in the range of $0.48 to $0.51.
Significant factors affecting earnings in the third quarter of 2013 include:
- a challenging intermodal pricing environment that resulted in price increases that were lower than anticipated,
- unfavorable intermodal traffic mix, including soft demand for freight shipping from the West Coast,
- less new business than expected in truck brokerage due to intense competition from asset-based carriers, and
- unfavorable business mix in truck brokerage due to a decline in demand for high value-added services.
Due to these factors, Hub Group now expects 2013 full-year diluted earnings per share to be in the range of $1.85 to $1.95.
Hub Group will hold a conference call at 5:00 p.m. Eastern Time on Thursday, October 17, 2013 to discuss its third quarter 2013 results. The results will be announced via press release prior to the call on October 17, after the market closes.
Hosting the conference call will be David Yeager, Chief Executive Officer, Mark Yeager, Chief Operating Officer, and Terri Pizzuto, Chief Financial Officer.
This call is being webcast and can be accessed through the Investors link on Hub Group's Web site at www.hubgroup.com. The webcast is listen-only. Those interested in participating in the question and answer session should follow the telephone dial-in instructions below.
To participate in the conference call by telephone, please call ten minutes early by dialing (888) 680-0869. The conference call participant code is 94947913#. Participants may pre-register for the call at https://www.theconferencingservice.com/prereg/key.process?key=PRDMKTW4Q . Pre-registrants will be issued a pin number to use when dialing into the live call which will provide quick access to the conference, bypassing the operator. The call will be limited to 60 minutes, including questions and answers.
An audio replay will be available through the Investors link on the Company's Web site at www.hubgroup.com. This replay will be available for 30 days.
About Hub Group
Hub Group, Inc. is a $3 billion asset light freight transportation management company providing comprehensive intermodal, truck brokerage and logistics services. The Company operates through a network of offices and independent agents throughout the United States, Canada and Mexico. For more information, visit www.hubgroup.com.
CERTAIN FORWARD-LOOKING STATEMENTS: Statements in this press release that are not historical, including statements about Hub Group's or management's earnings guidance, intentions, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently uncertain and subject to risks. Such statements should be viewed with caution. Actual results or experience could differ materially from the forward-looking statements as a result of many factors. Factors that could cause actual results to differ materially include the factors listed from time to time in Hub Group's SEC reports including, but not limited to, our annual report on Form 10-K for the year ended December 31, 2012 and our reports on Form 10-Q for the periods ended March 31, 2013 and June 30, 2013. Hub Group assumes no liability to update any such forward-looking statements.
SOURCE Hub Group, Inc.