Exhibit 99.1
HUB GROUP, INC.
CONSOLIDATED STATEMENTS OF EARNINGS
(in thousands, except per share amounts)
(unaudited)
Three Months Ended, | ||||||||||||||||
March 31, 2018 | June 30, 2018 | |||||||||||||||
% of | % of | |||||||||||||||
Amount | Revenue | Amount | Revenue | |||||||||||||
Revenue | $ | 837,342 | 100.0 | % | $ | 894,734 | 100.0 | % | ||||||||
Transportation costs | 746,303 | 89.1 | % | 793,743 | 88.7 | % | ||||||||||
Gross margin | 91,039 | 10.9 | % | 100,991 | 11.3 | % | ||||||||||
Costs and expenses: | ||||||||||||||||
Salaries and benefits | 52,304 | 6.3 | % | 54,069 | 6.0 | % | ||||||||||
General and administrative | 18,437 | 2.2 | % | 17,793 | 2.0 | % | ||||||||||
Depreciation and amortization | 3,763 | 0.4 | % | 3,723 | 0.4 | % | ||||||||||
Total costs and expenses | 74,504 | 8.9 | % | 75,585 | 8.4 | % | ||||||||||
Operating income | 16,535 | 2.0 | % | 25,406 | 2.9 | % | ||||||||||
Other income (expense): | ||||||||||||||||
Interest expense | (2,103 | ) | -0.3 | % | (2,187 | ) | -0.2 | % | ||||||||
Interest and dividend income | 11 | 0.0 | % | 14 | 0.0 | % | ||||||||||
Other, net | (50 | ) | 0.0 | % | (182 | ) | 0.0 | % | ||||||||
Total other expense | (2,142 | ) | -0.3 | % | (2,355 | ) | -0.3 | % | ||||||||
Income from continuing operations before income taxes | 14,393 | 1.7 | % | 23,051 | 2.6 | % | ||||||||||
Provision for income taxes | 3,324 | 0.4 | % | 5,897 | 0.7 | % | ||||||||||
Income from continuing operations | 11,069 | 1.3 | % | 17,154 | 1.9 | % | ||||||||||
Income from discontinued operations, net of income taxes | 5,099 | 4,897 | ||||||||||||||
Net income | $ | 16,168 | $ | 22,051 | ||||||||||||
Earnings per share from continuing operations | ||||||||||||||||
Basic | $ | 0.33 | $ | 0.51 | ||||||||||||
Diluted | $ | 0.33 | $ | 0.51 | ||||||||||||
Earnings per share from discontinued operations | ||||||||||||||||
Basic | $ | 0.15 | $ | 0.15 | ||||||||||||
Diluted | $ | 0.15 | $ | 0.15 | ||||||||||||
Earnings per share net income | ||||||||||||||||
Basic | $ | 0.48 | $ | 0.66 | ||||||||||||
Diluted | $ | 0.48 | $ | 0.66 | ||||||||||||
Basic weighted average number of shares outstanding | 33,375 | 33,389 | ||||||||||||||
Diluted weighted average number of shares outstanding | 33,478 | 33,562 |