Hub (HUBG) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 30, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Trading Symbol	HUBG
Entity Registrant Name	HUB GROUP, INC.
Entity Central Index Key	0000940942
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity File Number	0-27754
Entity Tax Identification Number	36-4007085
Entity Address, Address Line One	2000 Clearwater Drive
Entity Address, City or Town	Oak Brook
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60523
City Area Code	630
Local Phone Number	271-3600
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Class A Common Stock, par value $.01 per share
Security Exchange Name	NASDAQ
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		33,494,226
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		662,296

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 185,336	$ 168,729
Accounts receivable trade	559,312	450,451
Allowance for uncollectible trade accounts	(8,574)	(6,912)
Other receivables	1,937	3,237
Prepaid taxes	1,780	630
Prepaid expenses and other current assets	13,661	24,086
TOTAL CURRENT ASSETS	753,452	640,221
Restricted investments	21,516	22,601
Property and equipment, net	638,940	663,165
Right-of-use assets - operating leases	34,400	35,548
Right-of-use assets - financing leases	4,145	5,865
Other intangibles, net	110,890	120,967
Goodwill, net	484,295	484,459
Other assets	17,332	18,748
TOTAL ASSETS	2,064,970	1,991,574
CURRENT LIABILITIES:
Accounts payable trade	307,361	257,247
Accounts payable other	23,008	11,585
Accrued payroll	25,533	45,540
Accrued other	88,344	86,686
Lease liability - operating leases	8,956	8,567
Lease liability - financing leases	2,562	3,048
Current portion of long term debt	86,964	94,691
TOTAL CURRENT LIABILITIES	542,728	507,364
Long term debt	149,004	186,934
Non-current liabilities	49,242	36,355
Lease liability - operating leases	27,191	28,518
Lease liability - financing leases	12	1,820
Deferred taxes	161,782	155,304
STOCKHOLDERS' EQUITY:
Preferred stock, $.01 par value; 2,000,000 shares authorized; no shares issued or outstanding in 2020 and 2019
Additional paid-in capital	183,140	179,637
Purchase price in excess of predecessor basis, net of tax benefit of $10,306	(15,458)	(15,458)
Retained earnings	1,230,772	1,179,601
Accumulated other comprehensive loss	(260)	(186)
Treasury stock; at cost, 7,730,131 shares in 2020 and 7,870,888 shares in 2019	(263,602)	(268,734)
TOTAL STOCKHOLDERS' EQUITY	1,135,011	1,075,279
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,064,970	1,991,574
Class A Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	412	412
Class B Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	$ 7	$ 7

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Purchase price in excess of predecessor basis, tax benefit		$ 10,306
Treasury stock, shares	7,730,131	7,870,888
Class A Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	97,337,700	97,337,700
Common stock, shares issued	41,224,792	41,224,792
Common stock, shares outstanding	33,494,661	33,353,904
Class B Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	662,300	662,300
Common stock, shares issued	662,296	662,296
Common stock, shares outstanding	662,296	662,296

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 924,812	$ 913,275	$ 2,542,914	$ 2,767,436
Transportation costs	816,777	778,057	2,223,036	2,372,226
Gross margin	108,035	135,218	319,878	395,210
Costs and expenses:
Salaries and benefits	45,576	59,765	146,128	182,652
General and administrative	20,845	30,906	76,151	77,852
Depreciation and amortization	7,697	7,301	22,945	21,150
Total costs and expenses	74,118	97,972	245,224	281,654
Operating income	33,917	37,246	74,654	113,556
Other income (expense):
Interest expense	(2,237)	(2,780)	(7,698)	(8,526)
Other, net	(122)	669	106	1,567
Total other expense	(2,359)	(2,111)	(7,592)	(6,959)
Income before provision for income taxes	31,558	35,135	67,062	106,597
Income tax expense	6,777	9,030	15,891	27,381
Net income	24,781	26,105	51,171	79,216
Other comprehensive income:
Foreign currency translation adjustments	23	(33)	(74)	(29)
Total comprehensive income	$ 24,804	$ 26,072	$ 51,097	$ 79,187
Basic earnings per common share	$ 0.75	$ 0.79	$ 1.54	$ 2.37
Diluted earnings per common share	$ 0.74	$ 0.78	$ 1.53	$ 2.36
Basic weighted average number of shares outstanding	33,177	33,034	33,169	33,385
Diluted weighted average number of shares outstanding	33,597	33,265	33,513	33,522

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect Period Of Adoption Adjustment [Member]	Class A and B Common Stock [Member]	Additional Paid-in Capital [Member]	Purchase Price Of Excess Of Predecessor Basis, Net Of Tax [Member]	Retained Earnings [Member]	Retained Earnings [Member]Cumulative Effect Period Of Adoption Adjustment [Member]	Accumulated Other Comprehensive Income [Member]	Treasury Stock [Member]
Beginning Balance at Dec. 31, 2018	$ 980,834	$ (26)	$ 419	$ 172,220	$ (15,458)	$ 1,072,456	$ (26)	$ (182)	$ (248,621)
Beginning Balance (in shares) at Dec. 31, 2018			41,887,088						(7,431,083)
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201602Member					us-gaap:AccountingStandardsUpdate201602Member
Purchase of treasury shares	(24,998)								$ (24,998)
Purchase of treasury shares (in shares)									(626,320)
Stock withheld for payments of withholding taxes	(2,875)								$ (2,875)
Stock withheld for payments of withholding taxes (in shares)									(75,881)
Issuance of restricted stock awards, net of forfeitures				(8,905)					$ 8,905
Issuance of restricted stock awards, net of forfeitures (in shares)									283,820
Share-based compensation expense	12,434			12,434
Net income	79,216					79,216
Foreign currency translation adjustment	(29)							(29)
Ending Balance at Sep. 30, 2019	1,044,556		$ 419	175,749	(15,458)	1,151,646		(211)	$ (267,589)
Ending Balance (in shares) at Sep. 30, 2019			41,887,088						(7,849,464)
Beginning Balance at Jun. 30, 2019	1,032,582		$ 419	170,619	(15,458)	1,125,541		(178)	$ (248,361)
Beginning Balance (in shares) at Jun. 30, 2019			41,887,088						(7,369,052)
Purchase of treasury shares	(17,716)								$ (17,716)
Purchase of treasury shares (in shares)									(444,509)
Stock withheld for payments of withholding taxes	(129)								$ (129)
Stock withheld for payments of withholding taxes (in shares)									(3,168)
Issuance of restricted stock awards, net of forfeitures				1,383					$ (1,383)
Issuance of restricted stock awards, net of forfeitures (in shares)									(32,735)
Share-based compensation expense	3,747			3,747
Net income	26,105					26,105
Foreign currency translation adjustment	(33)							(33)
Ending Balance at Sep. 30, 2019	1,044,556		$ 419	175,749	(15,458)	1,151,646		(211)	$ (267,589)
Ending Balance (in shares) at Sep. 30, 2019			41,887,088						(7,849,464)
Beginning Balance at Dec. 31, 2019	1,075,279		$ 419	179,637	(15,458)	1,179,601		(186)	$ (268,734)
Beginning Balance (in shares) at Dec. 31, 2019			41,887,088						(7,870,888)
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201602Member					us-gaap:AccountingStandardsUpdate201602Member
Stock withheld for payments of withholding taxes	(4,041)								$ (4,041)
Stock withheld for payments of withholding taxes (in shares)									(77,491)
Issuance of restricted stock awards, net of forfeitures				(9,173)					$ 9,173
Issuance of restricted stock awards, net of forfeitures (in shares)									218,248
Share-based compensation expense	12,676			12,676
Net income	51,171					51,171
Foreign currency translation adjustment	(74)							(74)
Ending Balance at Sep. 30, 2020	1,135,011		$ 419	183,140	(15,458)	1,230,772		(260)	$ (263,602)
Ending Balance (in shares) at Sep. 30, 2020			41,887,088						(7,730,131)
Beginning Balance at Jun. 30, 2020	1,105,837		$ 419	178,914	(15,458)	1,205,991		(283)	$ (263,746)
Beginning Balance (in shares) at Jun. 30, 2020			41,887,088						(7,706,638)
Stock withheld for payments of withholding taxes	(97)								$ (97)
Stock withheld for payments of withholding taxes (in shares)									(1,896)
Issuance of restricted stock awards, net of forfeitures				(241)					$ 241
Issuance of restricted stock awards, net of forfeitures (in shares)									(21,597)
Share-based compensation expense	4,467			4,467
Net income	24,781					24,781
Foreign currency translation adjustment	23							23
Ending Balance at Sep. 30, 2020	$ 1,135,011		$ 419	$ 183,140	$ (15,458)	$ 1,230,772		$ (260)	$ (263,602)
Ending Balance (in shares) at Sep. 30, 2020			41,887,088						(7,730,131)

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income	$ 51,171	$ 79,216
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	91,798	86,719
Deferred taxes	7,436	7,145
Compensation expense related to share-based compensation plans	12,676	12,434
Loss (gain) on sale of assets	94	(1,313)
Donated equipment	5,626
Changes in operating assets and liabilities:
Restricted investments	1,085	(2,192)
Accounts receivable, net	(105,918)	41,000
Prepaid taxes	(1,154)	(4,622)
Prepaid expenses and other current assets	10,379	1,299
Other assets	(429)	(3,365)
Accounts payable	61,549	(89,800)
Accrued expenses	(17,834)	2,408
Non-current liabilities	6,209	(225)
Net cash provided by operating activities	122,688	128,704
Cash flows from investing activities:
Proceeds from sale of equipment	1,298	9,072
Purchases of property and equipment	(55,352)	(55,616)
Acquisitions, net of cash acquired		(734)
Proceeds from the disposition of discontinued operations		19,439
Net cash used in investing activities	(54,054)	(27,839)
Cash flows from financing activities:
Proceeds from issuance of debt	128,762	36,557
Repayments of long term debt	(174,419)	(79,147)
Stock withheld for payments of withholding taxes	(4,041)	(2,875)
Finance lease payments	(2,278)	(2,206)
Purchase of treasury stock		(24,998)
Net cash used in financing activities	(51,976)	(72,669)
Effect of exchange rate changes on cash and cash equivalents	(51)	(3)
Net increase in cash and cash equivalents	16,607	28,193
Cash and cash equivalents beginning of the period	168,729	61,435
Cash and cash equivalents end of the period	185,336	89,628
Supplemental disclosures of cash paid for:
Interest	7,331	8,436
Income taxes	$ 12,406	$ 32,917

Interim Financial Statements

Interim Financial Statements	9 Months Ended
	Sep. 30, 2020
Quarterly Financial Information Disclosure [Abstract]
Interim Financial Statements	NOTE 1. Interim Financial Statements The accompanying unaudited consolidated financial statements of Hub Group, Inc. (the “Company,” “Hub,” “we”, “us” or “our”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements have been omitted pursuant to those rules and regulations. However, we believe that the disclosures contained herein are adequate to make the information presented not misleading. The financial statements reflect, in our opinion, all material adjustments (which include only normal recurring adjustments) necessary to fairly present our financial position as of September 30, 2020 and results of operations for the three and nine months ended September 30, 2020 and 2019. These unaudited consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019. Results of operations in interim periods are not necessarily indicative of results to be expected for a full year due partially to seasonality.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 2. Earnings Per Share The following is a reconciliation of our earnings per share (in thousands, except for per share data): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net income $ 24,781 $ 26,105 $ 51,171 $ 79,216 Weighted average shares outstanding - basic 33,177 33,034 33,169 33,385 Dilutive effect of stock options and restricted stock 420 231 344 137 Weighted average shares outstanding - diluted 33,597 33,265 33,513 33,522 Earnings per share - basic $ 0.75 $ 0.79 $ 1.54 $ 2.37 Earnings per share - diluted $ 0.74 $ 0.78 $ 1.53 $ 2.36

Revenue from Contract with Cust

Revenue from Contract with Customers	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenue from Contracts with Customers	NOTE 3. Revenue from Contracts with Customers Hub offers comprehensive multimodal solutions including intermodal, truck brokerage, logistics and dedicated services. Hub has full time employees located throughout the United States, Canada and Mexico. Intermodal. As an intermodal provider, we arrange for the movement of our customers’ freight in containers, typically over long distances of 750 miles or more. We contract with railroads to provide transportation for the long-haul portion of the shipment between rail terminals. Local pickup and delivery services between origin or destination and rail terminals (referred to as “drayage”) are provided by our subsidiary Hub Group Trucking, Inc. (“HGT”) and third-party local trucking companies. Logistics . Hub’s logistics operation offers a wide range of transportation management services and technology solutions including shipment optimization, load consolidation, mode selection, carrier management, load planning and execution and web-based shipment visibility. Our multi-modal transportation capabilities include small parcel, heavyweight, expedited, less-than-truckload, truckload, intermodal, railcar and international shipping. We leverage proprietary technology along with collaborative relationships with retailers and logistics providers to deliver cost savings and performance-enhancing supply chain services to consumer packaged goods clients. We contract with third-party warehouse providers in seven markets across North America to which our customers ship their goods to be stored and eventually consolidated, along with goods from other customers into full truckload shipments destined to major North American retailers. These services offer our customers shipment visibility, transportation cost savings, high service levels and compliance with retailers’ increasingly stringent supply chain requirements. Truck Brokerage. Our truck brokerage operation provides customers with an over the road service option for their transportation needs. Our brokerage service does not operate any trucks; instead we match customers’ needs with carriers’ capacity to provide the most effective service and price combination. We have contracts with a substantial base of carriers allowing us to meet the varied needs of our customers. As part of our truck brokerage services, we negotiate rates, track shipments in transit and handle claims for freight loss or damage on behalf of our customers. Dedicated. Our dedicated operation contracts with customers who seek to outsource a portion of their trucking transportation needs. We offer a dedicated fleet of equipment and drivers to each customer, as well as the management and infrastructure to operate according to the customer’s high service expectations. Contracts with customers generally include fixed and variable pricing arrangements and may include charges for early termination which serves to reduce the financial risk we bear with respect to the utilization of our equipment. The Company capitalizes commissions incurred in connection with obtaining a Dedicated contract. In 2020 and 2019, the amount of commissions that were capitalized and the amortization related to these commissions were both immaterial. Costs incurred to obtain an intermodal, truck brokerage or logistics contract are expensed as incurred according to the practical expedient that allows contract acquisition costs to be recognized immediately if the deferral period is one year or less. The following table summarizes our disaggregated revenue by business line (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Intermodal $ 559,759 $ 539,484 $ 1,515,759 $ 1,618,407 Logistics 175,892 189,470 522,890 586,196 Truck brokerage 119,994 109,543 304,686 334,211 Dedicated 69,167 74,778 199,579 228,622 Total revenue $ 924,812 $ 913,275 $ 2,542,914 $ 2,767,436

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurement	NOTE 4. Fair Value Measurement The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximated fair value as of September 30, 2020 and December 31, 2019. As of September 30, 2020 and December 31, 2019, the fair value of the Company’s fixed-rate borrowings was $ 7.3 236.0 We consider as cash equivalents all highly liquid instruments with an original maturity of three months or less. As of September 30, 2020 and December 31, 2019, our cash is with high quality financial institutions in demand deposit accounts, savings accounts and an interest bearing checking account. Restricted investments included $21.5 million and $22.6 million Our assets and liabilities measured at fair value are based on valuation techniques that consider prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. These valuation methods are based on either quoted market prices (Level 1) or inputs, other than quoted prices in active markets, that are observable either directly or indirectly (Level 2), or unobservable inputs (Level 3). Cash and cash equivalents, mutual funds, accounts receivable and accounts payable are defined as “Level 1,” while long-term debt is defined as “Level 2” of the fair value hierarchy in the Fair Value Measurements and Disclosures Topic of the Codification.

Allowance for Credit Losses

Allowance for Credit Losses	9 Months Ended
	Sep. 30, 2020
Credit Loss [Abstract]
Allowance for Credit Losses	NOTE 5. Allowance for Credit Losses On January 1, 2020, we adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASC 326), which replaces the incurred loss methodology with an expected loss methodology that is referred to as the Current Expected Credit Loss (“CECL”). The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including trade receivables. Results for reporting periods beginning January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable generally accepted accounting principles. The impact of adopting the standard was immaterial. In accordance with the standard, trade receivables are reported at amortized cost net of the allowance for credit losses. The allowance for credit losses is a valuation account that is deducted from the trade receivables’ amortized cost basis to present the net amount expected to be collected on the receivables. Trade receivables are charged off against the allowance when we believe the uncollectability of a receivable balance is confirmed, and the expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Management continuously reviews and assesses the environment, especially with the rapidly-changing COVID-19 pandemic and its potential impact on the credit worthiness and collectability of our accounts receivable with customers most affected by the COVID-19 pandemic. Our allowance for credit losses is presented in the allowance for uncollectible trade accounts and is immaterial at September 30, 2020 and December 31, 2019.

Long-Term Debt and Financing Ar

Long-Term Debt and Financing Arrangements	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-Term Debt and Financing Arrangements	NOTE 6. Long-Term Debt and Financing Arrangements On July 1, 2017, we entered into a $350 million unsecured credit agreement (the “Credit Agreement”) that matures on July 1, 2022. In March 2020, we elected to borrow as a precautionary measure in order to increase our cash position and preserve financial flexibility in light of uncertainty in the global markets resulting from the COVID-19 pandemic. We repaid the $100 million in June 2020. At September 30, 2020, we had and 2021 $32.6 Our unused and available borrowings were $317.4 We have entered into various secured Equipment Notes (“Notes”) for the purchase of tractors, trailers containers and other equipment. The Notes are secured by the underlying equipment financed with the proceeds from the Notes. September 30, December 31, 2020 2019 (in thousands) Interim Funding for a deposit on equipment expected to be received in the fourth quarter of 2020; interest paid monthly at a variable rate $ 3,820 $ - Secured Equipment Notes due on various dates in 2025 commencing on various dates in 2020; interest is paid monthly at a fixed annual rate between 1.51% and 1.80% 22,036 - Secured Equipment Notes due on various dates in 2024 commencing on various dates in 2017 to 2020; interest is paid monthly at a fixed annual rate between 2.49% and 3.59% 53,497 62,690 Secured Equipment Notes due on various dates in 2023 commencing on various dates in 2016 to 2019; interest is paid monthly at a fixed annual rate between 2.23% and 4.16% 123,314 153,350 Secured Equipment Notes due on various dates in 2022 commencing on various dates in 2015 to 2017; interest is paid monthly at a fixed annual rate of between 2.16% and 2.85% 10,687 16,892 Secured Equipment Notes due on various dates in 2021 commencing on various dates from 2014 to 2017; interest is paid monthly at a fixed annual rate between 2.04% and 2.96% 20,043 35,076 Secured Equipment Notes due on various dates in 2020 commencing on various dates from 2013 to 2016; interest is paid monthly at a fixed annual rate between 1.84% and 2.74% 2,571 13,617 235,968 281,625 Less current portion (86,964 ) (94,691 ) Total long-term debt $ 149,004 $ 186,934

Legal Matters

Legal Matters	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Legal Matters	NOTE 7. Legal Matters Robles On January 25, 2013, a complaint was filed in the U.S. District Court for the Eastern District of California (Sacramento Division) by Salvador Robles against our subsidiary HGT. The action was brought on behalf of a class comprised of present and former California-based truck drivers for HGT who, from January 2009 to September 2014, were classified as independent contractors. It alleged that HGT misclassified these drivers as independent contractors and that such drivers were employees. It asserted various violations of the California Labor Code and claimed that HGT engaged in unfair competition practices. The complaint sought, among other things, declaratory and injunctive relief, monetary damages and attorney’s fees. In May 2013, the complaint was amended to add similar claims based on Mr. Robles’ status as an employed company driver. These additional claims were only on behalf of Mr. Robles and not a putative class. Although the Company believes that the California drivers were properly classified as independent contractors at all times, because litigation is expensive, time-consuming and could interrupt our business operations, HGT decided to make settlement offers to individual drivers with respect to the claims alleged in this lawsuit, without admitting liability. In late 2014, HGT converted its model from independent contractors to employee drivers in California. In early 2016, HGT closed its operations in Southern California. Adame On August 5, 2015, a suit was filed in state court in San Bernardino County, California on behalf of 63 named Plaintiffs against HGT and five Company employees. The lawsuit alleges claims similar to those being made in the Robles case and seeks monetary penalties under the Private Attorneys General Act. The plaintiffs’ counsel and Hub agreed in principle to settle all claims under both the Robles and Adame matters for $4.8 million, which was recorded in the third quarter of 2019 and is included in Accrued other on the accompanying Consolidated Balance Sheet. The settlements are subject to final court approval. We are involved in certain other claims and pending litigation arising from the normal conduct of business, including putative class-action lawsuits in which the plaintiffs are current and former California-based drivers who allege claims for unpaid wages, failure to provide meal and rest periods, failure to reimburse incurred business expenses and other items. Based on management's present knowledge, management does not believe that loss contingencies arising from these pending matters are likely to have a material adverse effect on the Company's overall financial position, operating results, or cash flows after taking into account any existing accruals. However, actual outcomes could be material to the Company's financial position, operating results, or cash flows for any particular period.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2020
Accounting Changes And Error Corrections [Abstract]
New Accounting Pronouncements	NOTE 8. New Accounting Pronouncements In January 2017, the FASB issued ASU No. 2017-04 Intangibles – Goodwill and other (Topic 350): simplifying the test for goodwill impairment. This ASU simplifies how all entities assess goodwill for impairment by eliminating step two from the goodwill impairment test. As amended, the goodwill impairment test will consist of one step comparing the fair value of a reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The standard is effective for fiscal years beginning after December 15, 2019. We adopted this standard on January 1, 2020, as required. The adoption of Topic 350 did not have a material effect on our financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. This standard is effective for public business entities in fiscal years beginning after December 15, 2019, and for interim periods within those fiscal years. This standard requires changes to the disclosure requirements for fair value measurements for certain Level 3 items and specifies that some of the changes must be applied prospectively, while others should be applied retrospectively. We adopted the standard as of January 1, 2020, but it did not have an impact on our financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU clarifies and simplifies accounting for income taxes by eliminating certain exceptions for intraperiod tax allocation principles, the methodology for calculating income tax rates in an interim period, and recognition of deferred taxes for outside basis differences in an investment, among other updates. The effective date of this ASU is for fiscal years and interim periods beginning after December 15, 2020. The Company is evaluating the impact of this ASU.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of Earnings Per Share	The following is a reconciliation of our earnings per share (in thousands, except for per share data): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net income $ 24,781 $ 26,105 $ 51,171 $ 79,216 Weighted average shares outstanding - basic 33,177 33,034 33,169 33,385 Dilutive effect of stock options and restricted stock 420 231 344 137 Weighted average shares outstanding - diluted 33,597 33,265 33,513 33,522 Earnings per share - basic $ 0.75 $ 0.79 $ 1.54 $ 2.37 Earnings per share - diluted $ 0.74 $ 0.78 $ 1.53 $ 2.36

Revenue from Contract with Cu_2

Revenue from Contract with Customers (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Summary of Disaggregated Revenue by Business Line	The following table summarizes our disaggregated revenue by business line (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Intermodal $ 559,759 $ 539,484 $ 1,515,759 $ 1,618,407 Logistics 175,892 189,470 522,890 586,196 Truck brokerage 119,994 109,543 304,686 334,211 Dedicated 69,167 74,778 199,579 228,622 Total revenue $ 924,812 $ 913,275 $ 2,542,914 $ 2,767,436

Long-Term Debt and Financing _2

Long-Term Debt and Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	September 30, December 31, 2020 2019 (in thousands) Interim Funding for a deposit on equipment expected to be received in the fourth quarter of 2020; interest paid monthly at a variable rate $ 3,820 $ - Secured Equipment Notes due on various dates in 2025 commencing on various dates in 2020; interest is paid monthly at a fixed annual rate between 1.51% and 1.80% 22,036 - Secured Equipment Notes due on various dates in 2024 commencing on various dates in 2017 to 2020; interest is paid monthly at a fixed annual rate between 2.49% and 3.59% 53,497 62,690 Secured Equipment Notes due on various dates in 2023 commencing on various dates in 2016 to 2019; interest is paid monthly at a fixed annual rate between 2.23% and 4.16% 123,314 153,350 Secured Equipment Notes due on various dates in 2022 commencing on various dates in 2015 to 2017; interest is paid monthly at a fixed annual rate of between 2.16% and 2.85% 10,687 16,892 Secured Equipment Notes due on various dates in 2021 commencing on various dates from 2014 to 2017; interest is paid monthly at a fixed annual rate between 2.04% and 2.96% 20,043 35,076 Secured Equipment Notes due on various dates in 2020 commencing on various dates from 2013 to 2016; interest is paid monthly at a fixed annual rate between 1.84% and 2.74% 2,571 13,617 235,968 281,625 Less current portion (86,964 ) (94,691 ) Total long-term debt $ 149,004 $ 186,934

Reconciliation of Earnings Per

Reconciliation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net income	$ 24,781	$ 26,105	$ 51,171	$ 79,216
Weighted average shares outstanding - basic	33,177	33,034	33,169	33,385
Dilutive effect of stock options and restricted stock	420	231	344	137
Weighted average shares outstanding - diluted	33,597	33,265	33,513	33,522
Earnings per share - basic	$ 0.75	$ 0.79	$ 1.54	$ 2.37
Earnings per share - diluted	$ 0.74	$ 0.78	$ 1.53	$ 2.36

Summary of Disaggregated Revenu

Summary of Disaggregated Revenue by Business Line (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation Of Revenue [Line Items]
Revenue	$ 924,812	$ 913,275	$ 2,542,914	$ 2,767,436
Intermodal [Member]
Disaggregation Of Revenue [Line Items]
Revenue	559,759	539,484	1,515,759	1,618,407
Logistics [Member]
Disaggregation Of Revenue [Line Items]
Revenue	175,892	189,470	522,890	586,196
Truck brokerage [Member]
Disaggregation Of Revenue [Line Items]
Revenue	119,994	109,543	304,686	334,211
Dedicated [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 69,167	$ 74,778	$ 199,579	$ 228,622

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Fair Value Measurement [Line Items]
Carrying value of debt	$ 235,968	$ 281,625
Restricted investments	21,500	22,600
Fixed-rate Borrowings [Member]
Fair Value Measurement [Line Items]
Increase (decrease) in fair value of debt	7,300	3,800
Carrying value of debt	$ 236,000	$ 281,600

Long-Term Debt and Financing _3

Long-Term Debt and Financing Arrangements - Additional Information (Detail) - USD ($)	Jul. 01, 2017	Jun. 30, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Standby Letters of Credit [Member]
Line Of Credit Facility [Line Items]
Outstanding letters of credit			$ 32,600,000
Standby Letters of Credit [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Letters of credit expiration, year			2020
Standby Letters of Credit [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Letters of credit expiration, year			2021
Revolving Line of Credit Facility [Member] | Bank Revolving Line of Credit [Member]
Line Of Credit Facility [Line Items]
Unused and available borrowings under bank revolving line of credit			$ 317,400,000		$ 318,500,000
Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Credit agreement, maximum borrowing capacity	$ 350,000,000
Credit agreement, matures	Jul. 1, 2022
Borrowings under credit agreement				$ 100,000,000
Credit agreement, repaid		$ 100,000,000

Schedule of Outstanding Debt (D

Schedule of Outstanding Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Interim Funding for a deposit on equipment expected to be received in the fourth quarter of 2020; interest paid monthly at a variable rate	$ 3,820
Total debt	235,968	$ 281,625
Less current portion	(86,964)	(94,691)
Total long-term debt	149,004	186,934
Secured Equipment Notes due in 2025 [Member]
Debt Instrument [Line Items]
Secured long-term debt	22,036
Secured Equipment Notes due in 2024 [Member]
Debt Instrument [Line Items]
Secured long-term debt	53,497	62,690
Secured Equipment Notes due in 2023 [Member]
Debt Instrument [Line Items]
Secured long-term debt	123,314	153,350
Secured Equipment Notes due in 2022 [Member]
Debt Instrument [Line Items]
Secured long-term debt	10,687	16,892
Secured Equipment Notes due in 2021 [Member]
Debt Instrument [Line Items]
Secured long-term debt	20,043	35,076
Secured Equipment Notes due in 2020 [Member]
Debt Instrument [Line Items]
Secured long-term debt	$ 2,571	$ 13,617

Schedule of Outstanding Debt (P

Schedule of Outstanding Debt (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2020
Debt Instrument [Line Items]
Payment frequency for interim funding for deposit on equipment	monthly
Secured Equipment Notes due in 2025 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2025
Payment Frequency	monthly
Secured Equipment Notes due in 2025 [Member] | Commencing on 2020 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2020
Secured Equipment Notes due in 2024 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2024
Payment Frequency	monthly
Secured Equipment Notes due in 2024 [Member] | Commencing on 2017 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2017
Secured Equipment Notes due in 2024 [Member] | Commencing on 2020 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2020
Secured Equipment Notes due in 2023 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2023
Payment Frequency	monthly
Secured Equipment Notes due in 2023 [Member] | Commencing on 2016 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2016
Secured Equipment Notes due in 2023 [Member] | Commencing on 2019 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2019
Secured Equipment Notes due in 2022 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2022
Payment Frequency	monthly
Secured Equipment Notes due in 2022 [Member] | Commencing on 2017 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2017
Secured Equipment Notes due in 2022 [Member] | Commencing on 2015 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2015
Secured Equipment Notes due in 2021 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2021
Payment Frequency	monthly
Secured Equipment Notes due in 2021 [Member] | Commencing on 2017 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2017
Secured Equipment Notes due in 2021 [Member] | Commencing on 2014 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2014
Secured Equipment Notes due in 2020 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2020
Payment Frequency	monthly
Secured Equipment Notes due in 2020 [Member] | Commencing on 2016 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2016
Secured Equipment Notes due in 2020 [Member] | Commencing on 2013 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2013
Minimum [Member] | Secured Equipment Notes due in 2025 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	1.51%
Minimum [Member] | Secured Equipment Notes due in 2024 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.49%
Minimum [Member] | Secured Equipment Notes due in 2023 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.23%
Minimum [Member] | Secured Equipment Notes due in 2022 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.16%
Minimum [Member] | Secured Equipment Notes due in 2021 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.04%
Minimum [Member] | Secured Equipment Notes due in 2020 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	1.84%
Maximum [Member] | Secured Equipment Notes due in 2025 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	1.80%
Maximum [Member] | Secured Equipment Notes due in 2024 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	3.59%
Maximum [Member] | Secured Equipment Notes due in 2023 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	4.16%
Maximum [Member] | Secured Equipment Notes due in 2022 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.85%
Maximum [Member] | Secured Equipment Notes due in 2021 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.96%
Maximum [Member] | Secured Equipment Notes due in 2020 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.74%

Legal Matters - Additional Info

Legal Matters - Additional Information (Detail) $ in Millions	Aug. 05, 2015USD ($)PlaintiffEmployee
Robles Lawsuits [Member]
Loss Contingencies [Line Items]
Number of plaintiffs against Hub Group Trucking | Plaintiff	63
Number of employees filed lawsuit | Employee	5
Robles and Adame Lawsuits [Member] | Accrued Other [Member]
Loss Contingencies [Line Items]
Claims settlement recorded in consolidated balance sheet | $	$ 4.8