0000950170-24-052763 | 10-Q | XBRL Viewer

Long-Term Debt and Financing Arrangements - Additional Information (Detail) - USD ($)		3 Months Ended
	Feb. 28, 2022	Mar. 31, 2024	Dec. 31, 2023
Minimum [Member] \| Base Rate
Line Of Credit Facility [Line Items]
Commitment fee on unused commitments	0.10%
Maximum [Member] \| Base Rate
Line Of Credit Facility [Line Items]
Commitment fee on unused commitments	0.25%
Letter of Credit [Member] \| Minimum [Member]
Line Of Credit Facility [Line Items]
Commitment fee on unused commitments	1.00%
Letter of Credit [Member] \| Maximum [Member]
Line Of Credit Facility [Line Items]
Commitment fee on unused commitments	1.75%
Standby Letters of Credit [Member]
Line Of Credit Facility [Line Items]
Letters of credit expiration, year		2024
Outstanding letters of credit		$ 800,000	$ 900,000
Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Amount of credit agreement	$ 350,000,000
Term of credit agreement	5 years
Credit agreement interest rate description		the secured overnight financing rate (published by the Federal Reserve Bank of New York, “SOFR”), plus a specified margin based on the term of such borrowing, plus a specified margin based upon Hub’s total net leverage ratio (as defined in the Credit Agreement) (the "Total Net Leverage Ratio"), or (ii) the base rate (which is the highest of (a) the administrative agent's prime rate, (b) the federal funds rate plus 0.50% or (c) the sum of 1% and one-month SOFR) plus a specified margin based upon the Total Net Leverage Ratio.
Borrowings under bank revolving line of credit		$ 0	0
Unused and available borrowings under bank revolving line of credit and credit agreement		$ 349,200,000	$ 349,100,000
Credit Agreement [Member] \| Federal Funds Rate [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	0.50%
Credit Agreement [Member] \| Secured Overnight Financing Rate [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	1.00%
Description of variable rate basis	one-month SOFR
Credit Agreement [Member] \| Minimum [Member] \| Base Rate
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	0.00%
Credit Agreement [Member] \| Minimum [Member] \| Secured Overnight Financing Rate [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	1.00%
Credit Agreement [Member] \| Maximum [Member] \| Base Rate
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	0.75%
Credit Agreement [Member] \| Maximum [Member] \| Secured Overnight Financing Rate [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	1.75%

Long-Term Debt and Financing Arrangements

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Long-Term Debt and Financing Arrangements

NOTE 6. Long-Term Debt and Financing Arrangements

In February 2022, we entered into a five-year, $350 million unsecured credit agreement (the "Credit Agreement"). Borrowings under the Credit Agreement generally bear interest at a variable rate equal to (i) the secured overnight financing rate (published by the Federal Reserve Bank of New York, “SOFR”), plus a specified margin based on the term of such borrowing, plus a specified margin based upon Hub’s total net leverage ratio (as defined in the Credit Agreement) (the "Total Net Leverage Ratio"), or (ii) the base rate (which is the highest of (a) the administrative agent's prime rate, (b) the federal funds rate plus 0.50% or (c) the sum of 1% and one-month SOFR) plus a specified margin based upon the Total Net Leverage Ratio. The specified margin for SOFR loans varies from 100.0 to 175.0 basis points per annum. The specified margin for base rate loans varies from 0.0 to 75.0 basis points per annum. Hub must also pay (1) a commitment fee ranging from 10.0 to 25.0 basis points per annum (based upon the Total Net Leverage Ratio) on the aggregate unused commitments and (2) a letter of credit fee ranging from 100.0 to 175.0 basis points per annum (based upon the Total Net Leverage Ratio) on the undrawn amount of letters of credit.

We have standby letters of credit that expire in 2024. As of March 31, 2024 and December 31, 2023, our letters of credit were $0.8 and $ 0.9 million, respectively.

As March 31, 2024 and December 31, 2023, we had no borrowings under our Credit Agreement and our unused and available borrowings were $349.2 million and $349.1 million, respectively. We were in compliance with the financial covenants in our debt agreement as of March 31, 2024 and December 31, 2023.

We have entered into various Equipment Notes (“Notes”) for the purchase of tractors, trailers, containers and refrigeration units. The Notes are secured by the underlying equipment financed in the agreements.

Our outstanding Notes are as follows (in thousands):


	March 31,			December 31,
	2024			2023

Interim funding for equipment received and expected to be converted to an equipment note in a subsequent period; interest paid at a variable rate	$	707		$	3,265

Secured Equipment Notes due on various dates in 2029 commencing on various dates in 2024; interest is paid monthly at a fixed annual rate between 5.73% and 6.14%		14,106			-

Secured Equipment Notes due on various dates in 2028 commencing on various dates in 2023; interest is paid monthly at a fixed annual rate between 5.21% and 6.32%		100,180			105,744

Secured Equipment Notes due on various dates in 2027 commencing on various dates in 2022 and 2023; interest is paid monthly at a fixed annual rate between 2.07% and 6.45%		137,746			147,192

Secured Equipment Notes due on various dates in 2026 commencing on various dates in 2021; interest is paid monthly at a fixed annual rate between 1.48% and 2.41%		52,804			55,797

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%		24,827			30,930

Secured Equipment Notes due on various dates in 2024 commencing on various dates in 2017, 2019 and 2020; interest is paid monthly at a fixed annual rate between 2.58% and 3.40%		4,440			7,754

Total debt		334,810			350,682

Less current portion of long-term debt		(104,035	)		(105,108	)
Total long-term debt	$	230,775		$	245,574

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
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-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 470
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+ Details

Interim Financial Statements (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Feb. 22, 2024	Oct. 31, 2023
Dividends payable, amount per share		$ 0.125
Purchase of treasury shares (in shares)	587,928
Purchase of treasury shares	$ 25,756
Class A Common Stock [Member] \| 2023 Share Repurchase Program [Member]
Stock repurchase program, authorized amount			$ 250,000

Fair Value Measurement - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Fair Value Measurement [Line Items]
Carrying value of debt	$ 334,810	$ 350,682
Restricted investments	20,400	20,800
Fixed-rate Borrowings [Member]
Fair Value Measurement [Line Items]
Increase (decrease) in fair value of debt	3,100	1,400
Carrying value of debt	$ 334,800	$ 350,700

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
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
Treasury Stock, Shares	10,455,784	13,323,268
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	72,303,228	75,524,189
Common stock, shares outstanding	61,847,444	62,200,921
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	574,903	574,903
Common stock, shares outstanding	574,903	574,903

Acquisitions - Schedule of Amortization Expense (Detail) - Forward Air Final Mile Acquisition [Member] $ in Thousands	Mar. 31, 2024 USD ($)
Finite-Lived Intangible Assets [Line Items]
2024 (Remainder of year)	$ 7,647
Year 1	10,196
Year 2	10,196
Year 3	10,126
Year 4	$ 8,516

Segment Reporting

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Reporting

NOTE 4. Segment Reporting

We have two reportable segments: Intermodal and Transportation Solutions (“ITS”) and Logistics which are based primarily on the services each segment provides. Our ITS segment includes our asset-light business lines: intermodal and dedicated trucking. Our Logistics segment includes our non-asset business lines: managed transportation, truck brokerage, final mile, consolidation, warehousing and fulfillment.

Intermodal and Transportation Solutions. Our Intermodal and Transportation Solutions segment offers high service, nationwide door-to-door intermodal transportation, providing value, visibility and reliability in both transcontinental and local lanes by combining rail transportation with local trucking. This segment includes our trucking operations which provides our customers with local pickup and delivery (referred to as “drayage”) as well as high service local and regional trucking transportation using equipment dedicated to their needs. We arrange for the movement of our customers’ freight in one of our approximately 50,000 containers. We contract with railroads to provide transportation for the long-haul portion of the shipment between rail terminals. Drayage between origin or destination and rail terminals are provided by our own trucking operations and third parties with whom we contract. Our dedicated service operation offers fleets of equipment and drivers to each customer on a contract basis, as well as the management and infrastructure to operate according to the customer’s high service expectations. As of March 31, 2024, our trucking transportation operation consisted of approximately 2,300 tractors, 2,900 employee drivers and 4,300 trailers. We also contract for services with approximately 400 independent owner-operators.

Logistics. Our Logistics segment offers a wide range of services including transportation management, freight brokerage services, shipment optimization, load consolidation, mode selection, carrier management, load planning and execution, warehousing, fulfillment, cross-docking, consolidation services and final mile delivery. These services include a full range of trucking transportation services, including dry van, expedited, less-than-truckload, refrigerated and flatbed, all of which is provided by third party carriers with whom we contract. We also leverage proprietary technology along with collaborative relationships with third party service providers to deliver cost savings and performance-enhancing supply chain services to our clients. Our transportation management offering also serves as a source of volume for our ITS segment.

The following tables summarize our financial and operating data by segment (in thousands):


	Three Months Ended
Operating Revenue	March 31,
	2024			2023
Intermodal and Transportation Solutions	$	552,033		$	709,249
Logistics		480,224			469,141
Inter-segment eliminations		(32,764	)		(26,125	)
Total operating revenue	$	999,493		$	1,152,265


	Three Months Ended
Operating Income	March 31,
	2024		2023
Intermodal and Transportation Solutions	$	13,031	$	49,379
Logistics		24,108		28,826
Total operating income	$	37,139	$	78,205


	Three Months Ended
Depreciation and Amortization	March 31,
	2024		2023
Intermodal and Transportation Solutions	$	27,049	$	27,142
Logistics		11,282		8,307
Total depreciation and amortization	$	38,331	$	35,449

Separate balance sheets are not presented by segment to our Chief Operating Decision Maker (“CODM”). Our CODM uses consolidated asset information to make capital decisions.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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+ Details

Acquisitions - Additional Information (Detail) $ in Thousands		3 Months Ended
	Dec. 20, 2023 USD ($) Carrier	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Business Acquisition [Line Items]
Revenue		$ 999,493	$ 1,152,265
Operating income		37,139	$ 78,205
Forward Air Final Mile Acquisition [Member]
Business Acquisition [Line Items]
Business acquisition date	Dec. 20, 2023
Percentage of equity interests acquired	100.00%
Consideration for transaction	$ 261,000
Number of network carriers \| Carrier	350
Goodwill and other intangible assets tax deductible, period	15 years
Amortization expense of intangible assets		$ 2,500
Intangible assets, remaining weighted average useful life		14 years 1 month 24 days

Long-Term Debt and Financing Arrangements - Schedule of Outstanding Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Interim funding for equipment received and expected to be converted to an equipment note in a subsequent period; interest paid at a variable rate	$ 707	$ 3,265
Secured long-term debt	334,810	350,682
Less current portion	(104,035)	(105,108)
Total long-term debt	230,775	245,574
Secured Equipment Notes due in 2029 [Member]
Debt Instrument [Line Items]
Secured long-term debt	14,106	0
Secured Equipment Notes due in 2028 [Member]
Debt Instrument [Line Items]
Secured long-term debt	100,180	105,744
Secured Equipment Notes due in 2027 [Member]
Debt Instrument [Line Items]
Secured long-term debt	137,746	147,192
Secured Equipment Notes due in 2026 [Member]
Debt Instrument [Line Items]
Secured long-term debt	52,804	55,797
Secured Equipment Notes due in 2025 [Member]
Debt Instrument [Line Items]
Secured long-term debt	24,827	30,930
Secured Equipment Notes due in 2024 [Member]
Debt Instrument [Line Items]
Secured long-term debt	$ 4,440	$ 7,754

Earnings Per Share

3 Months Ended

Mar. 31, 2024

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, March 31,
	2024		2023

Net income for basic and diluted earnings per share	$	27,053	$	61,780

Weighted average shares outstanding - basic		61,325		65,098

Dilutive effect of restricted stock		341		578

Weighted average shares outstanding - diluted		61,666		65,676

Earnings per share - basic	$	0.44	$	0.95

Earnings per share - diluted	$	0.44	$	0.94

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 27,053	$ 61,780

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
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+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 195,362	$ 187,270
Accounts receivable trade, net	588,957	600,197
Accounts receivable other	4,940	3,358
Prepaid taxes	10,078	17,331
Prepaid expenses and other current assets	28,621	41,089
TOTAL CURRENT ASSETS	827,958	849,245
Restricted investments	20,393	20,763
Property and equipment, net	777,209	791,692
Right-of-use assets - operating leases	209,171	210,742
Right-of-use assets - financing leases	2,152	2,522
Other intangibles, net	295,943	304,607
Goodwill	735,460	733,695
Other non-current assets	22,984	22,781
TOTAL ASSETS	2,891,270	2,936,047
CURRENT LIABILITIES:
Accounts payable trade	320,919	349,378
Accounts payable other	18,179	14,471
Accrued payroll	31,964	21,731
Accrued other	126,475	121,253
Lease liability - operating leases	45,775	44,690
Lease liability - financing leases	1,253	1,579
Current portion of long-term debt	104,035	105,108
TOTAL CURRENT LIABILITIES	648,600	658,210
Long-term debt	230,775	245,574
Other non-current liabilities	52,932	55,287
Lease liability - operating leases	175,481	177,699
Lease liability - financing leases	823	865
Deferred taxes	160,443	163,767
STOCKHOLDERS' EQUITY:
Preferred stock, $.01 par value; 2,000,000 shares authorized; no shares issued or outstanding in 2024 and 2023	0	0
Additional paid-in capital	208,964	209,830
Retained earnings	1,968,361	1,949,110
Accumulated other comprehensive loss	(137)	(129)
Treasury stock; at cost, 10,455,784 shares in 2024 and 13,323,268 shares in 2023	(555,701)	(524,927)
TOTAL STOCKHOLDERS' EQUITY	1,622,216	1,634,645
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,891,270	2,936,047
Class A Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	723	755
Class B Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	$ 6	$ 6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Operating revenue	$ 999,493	$ 1,152,265
Operating expenses:
Purchased transportation and warehousing	740,172	866,931
Salaries and benefits	144,497	137,431
Depreciation and amortization	38,331	35,449
Insurance and claims	12,618	12,683
General and administrative	27,234	25,541
Gain on sale of assets, net	(498)	(3,975)
Total operating expenses	962,354	1,074,060
Operating income	37,139	78,205
Other income (expense):
Interest expense	(3,899)	(2,970)
Interest income	1,393	1,377
Other, net	(170)	38
Total other expense, net	(2,676)	(1,555)
Income before provision for income taxes	34,463	76,650
Provision for income taxes	7,410	14,870
Net income	27,053	61,780
Other comprehensive income:
Foreign currency translation adjustments	(8)	34
Total comprehensive income	$ 27,045	$ 61,814
Basic earnings per common share	$ 0.44	$ 0.95
Diluted earnings per common share	$ 0.44	$ 0.94
Basic weighted average number of shares outstanding	61,325	65,098
Diluted weighted average number of shares outstanding	61,666	65,676

Long-Term Debt and Financing Arrangements (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

Our outstanding Notes are as follows (in thousands):


	March 31,			December 31,
	2024			2023

Interim funding for equipment received and expected to be converted to an equipment note in a subsequent period; interest paid at a variable rate	$	707		$	3,265

Secured Equipment Notes due on various dates in 2029 commencing on various dates in 2024; interest is paid monthly at a fixed annual rate between 5.73% and 6.14%		14,106			-

Secured Equipment Notes due on various dates in 2028 commencing on various dates in 2023; interest is paid monthly at a fixed annual rate between 5.21% and 6.32%		100,180			105,744

Secured Equipment Notes due on various dates in 2027 commencing on various dates in 2022 and 2023; interest is paid monthly at a fixed annual rate between 2.07% and 6.45%		137,746			147,192

Secured Equipment Notes due on various dates in 2026 commencing on various dates in 2021; interest is paid monthly at a fixed annual rate between 1.48% and 2.41%		52,804			55,797

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%		24,827			30,930

Secured Equipment Notes due on various dates in 2024 commencing on various dates in 2017, 2019 and 2020; interest is paid monthly at a fixed annual rate between 2.58% and 3.40%		4,440			7,754

Total debt		334,810			350,682

Less current portion of long-term debt		(104,035	)		(105,108	)
Total long-term debt	$	230,775		$	245,574

Interim Financial Statements

3 Months Ended

Mar. 31, 2024

Quarterly Financial Information Disclosure [Abstract]

Interim Financial Statements

NOTE 1. Interim Financial Statements

Our accompanying unaudited condensed 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 March 31, 2024 and results of operations for the three months ended March 31, 2024 and 2023.

These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the condensed consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 10-K”). Results of operations in interim periods are not necessarily indicative of results to be expected for a full year due partially to seasonality.

On January 4, 2024, the Company announced a two-for-one stock split of the Company’s Class A and Class B common stock. The stock split was implemented in the form of a distribution of one additional Class A share for each share outstanding. The record date for the stock split was as of the close of business on January 16, 2024. The Company distribution date of the additional shares was January 26, 2024. As a result of the stock split, the number of authorized shares remained unchanged. Additionally, the par value per share of the common stock remains unchanged. All other share amounts in our condensed consolidated balance sheets, condensed consolidated statements of income and comprehensive income, condensed consolidated statements of stockholders' equity and related footnote disclosures have been adjusted and presented as though the stock split had occurred as of the earliest period presented.

On February 22, 2024, the Board declared a quarterly cash dividend of $0.125 per share on the Company’s Class A and Class B common stock. The dividend was paid on March 27, 2024 to stockholders of record as of March 8, 2024. The declaration and payment of the quarterly cash dividend was subject to the approval of the Board at its sole discretion and in compliance with applicable laws and regulations.

In October 2023, the Board authorized the purchase of up to $250 million of our Class A Common Stock pursuant to a share repurchase program. During the three months ended March 31, 2024, we purchased 587,928 shares for approximately $26 million.

Due to presentation changes made in our condensed consolidated statement of shareholders' equity, certain prior year amounts have been reclassified to conform with the current year presentation.

Segment Reporting - Summary of Financial and Operating Data by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Operating revenue	$ 999,493	$ 1,152,265
Operating income	37,139	78,205
Depreciation and amortization	38,331	35,449
Intermodal [Member]
Segment Reporting Information [Line Items]
Operating revenue	552,033	709,249
Operating income	13,031	49,379
Depreciation and amortization	27,049	27,142
Logistics [Member]
Segment Reporting Information [Line Items]
Operating revenue	480,224	469,141
Operating income	24,108	28,826
Depreciation and amortization	11,282	8,307
Inter-segment [Member]
Segment Reporting Information [Line Items]
Operating revenue	$ (32,764)	$ (26,125)

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 5
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Summarize our financial and operating data by segment

The following tables summarize our financial and operating data by segment (in thousands):


	Three Months Ended
Operating Revenue	March 31,
	2024			2023
Intermodal and Transportation Solutions	$	552,033		$	709,249
Logistics		480,224			469,141
Inter-segment eliminations		(32,764	)		(26,125	)
Total operating revenue	$	999,493		$	1,152,265


	Three Months Ended
Operating Income	March 31,
	2024		2023
Intermodal and Transportation Solutions	$	13,031	$	49,379
Logistics		24,108		28,826
Total operating income	$	37,139	$	78,205


	Three Months Ended
Depreciation and Amortization	March 31,
	2024		2023
Intermodal and Transportation Solutions	$	27,049	$	27,142
Logistics		11,282		8,307
Total depreciation and amortization	$	38,331	$	35,449

Long-Term Debt and Financing Arrangements - Schedule of Outstanding Debt (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2024
Secured Equipment Notes due in 2029 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2029
Payment Frequency	monthly
Secured Equipment Notes due in 2029 [Member] \| Commencing on 2024 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2024
Secured Equipment Notes due in 2028 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2028
Payment Frequency	monthly
Secured Equipment Notes due in 2028 [Member] \| Commencing on 2023 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2023
Secured Equipment Notes due in 2027 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2027
Payment Frequency	monthly
Secured Equipment Notes due in 2027 [Member] \| Commencing on 2023 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2023
Secured Equipment Notes due in 2027 [Member] \| Commencing on 2022 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2022
Secured Equipment Notes due in 2026 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2026
Payment Frequency	monthly
Secured Equipment Notes due in 2026 [Member] \| Commencing on 2021 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2021
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 2020 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2020
Secured Equipment Notes due in 2024 [Member] \| Commencing on 2019 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2019
Secured Equipment Notes due in 2024 [Member] \| Commencing on 2017 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2017
Minimum [Member] \| Secured Equipment Notes due in 2029 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	5.73%
Minimum [Member] \| Secured Equipment Notes due in 2028 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	5.21%
Minimum [Member] \| Secured Equipment Notes due in 2027 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.07%
Minimum [Member] \| Secured Equipment Notes due in 2026 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	1.48%
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	2.58%
Maximum [Member] \| Secured Equipment Notes due in 2029 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	6.14%
Maximum [Member] \| Secured Equipment Notes due in 2028 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	6.32%
Maximum [Member] \| Secured Equipment Notes due in 2027 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	6.45%
Maximum [Member] \| Secured Equipment Notes due in 2026 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.41%
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	3.40%

Acquisitions - Schedule of Unaudited Pro forma Condensed Consolidated Results of Operations (Detail) - Forward Air Final Mile Acquisition [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares
Business Acquisition [Line Items]
Revenue \| $	$ 1,221,622
Net income \| $	$ 61,814
Earnings per share
Basic \| $ / shares	$ 0.95
Diluted \| $ / shares	$ 0.94

Legal Matters

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Legal Matters

NOTE 7. Legal Matters

The Company is involved in certain claims and pending litigation arising from the normal conduct of business, including putative class-action lawsuits involving employment related claims. Based on management's present knowledge, management does not believe that any potential unrecorded 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 for settlements or losses determined to be probable and estimable. However, actual outcomes could be material to the Company's financial position, operating results, or cash flows for any particular period.

Acquisitions - Summarizes the Preliminary Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands		3 Months Ended
	Dec. 20, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill		$ 735,460		$ 733,695
Lease liability - operating leases long-term		175,481		$ 177,699
Cash paid		$ 0	$ (108)
Forward Air Final Mile Acquisition [Member]
Business Acquisition [Line Items]
Accounts receivable trade	$ 28,574
Prepaid expenses and other current assets	2,305
Property and equipment	2,793
Right of use assets - operating leases	15,003
Other intangibles	134,456
Goodwill	105,687
Other assets	173
Total assets acquired	288,991
Accounts payable trade	155
Accounts payable other	2,177
Accrued payroll	1,271
Accrued other	9,449
Lease liability - operating leases short-term	6,145
Other long term liabilities	19
Lease liability - operating leases long-term	8,857
Total liabilities assumed	28,073
Total consideration	260,918
Cash paid	$ 260,918

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Modified	false
Rule 10b5-1 Arrangement Modified	false

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net Income (Loss)	$ 27,053	$ 61,780
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles and right-of-use assets	49,605	45,810
Deferred taxes	(3,025)	4,901
Non-cash share-based compensation expense	4,040	5,238
Gain on sale of assets, net	(498)	(3,975)
Changes in operating assets and liabilities, net of acquisitions:
Restricted investments	370	(1,122)
Accounts receivable, net	9,652	18,951
Prepaid taxes	7,253	7,605
Prepaid expenses and other current assets	12,468	13,617
Other non-current assets	(880)	(653)
Accounts payable	(24,755)	(17,705)
Accrued expenses	11,462	(40,065)
Non-current liabilities	(12,229)	(5,007)
Net cash provided by operating activities	80,516	89,375
Cash flows from investing activities:
Proceeds from sale of equipment	3,442	10,172
Purchases of property and equipment	(17,524)	(26,845)
Acquisitions, net of cash acquired	0	108
Net cash used in investing activities	(14,082)	(16,565)
Cash flows from financing activities:
Repayments of long-term debt	(27,422)	(29,237)
Purchase of treasury stock	(25,756)	0
Stock withheld for payments of withholding taxes	(8,486)	(7,606)
Dividends paid	(7,626)	0
Finance lease payments	(606)	(888)
Proceeds from issuance of debt	11,550	20,831
Net cash used in financing activities	(58,346)	(16,900)
Effect of exchange rate changes on cash and cash equivalents	4	18
Net increase in cash and cash equivalents	8,092	55,928
Cash and cash equivalents beginning of the period	187,270	286,642
Cash and cash equivalents end of the period	195,362	342,570
Supplemental disclosures of cash flow:
Interest paid	3,983	3,320
Income taxes (received) paid	$ (1,442)	$ 1,290

Acquisitions - Schedule of Components of Other Intangible Acquired (Detail) - Forward Air Final Mile Acquisition [Member] $ in Thousands	Mar. 31, 2024 USD ($)
Customer Relationships [Member]
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	$ 127,733
Finite-lived intangible assets, Accumulated Amortization	2,484
Finite-lived intangible assets, Net Carrying Value	$ 125,249
Intangible assets estimated useful life	15 years
Developed Technology [Member]
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	$ 6,723
Finite-lived intangible assets, Accumulated Amortization	490
Finite-lived intangible assets, Net Carrying Value	$ 6,233
Intangible assets estimated useful life	4 years

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Class A and B Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Treasury Stock [Member]
Beginning Balance at Dec. 31, 2022	$ 1,599,602	$ 761	$ 192,365	$ 1,781,582	$ (214)	$ (374,892)
Beginning Balance (in shares) at Dec. 31, 2022		76,099,092				(9,656,044)
Stock tendered for payments of withholding taxes related to awards vested	(7,606)					$ (7,606)
Stock tendered for payments of withholding taxes related to awards vested (in shares)						(191,028)
Issuance of restricted stock awards, net of forfeitures			(7,292)			$ 7,292
Issuance of restricted stock awards, net of forfeitures (in shares)						419,056
Share-based compensation expense	5,238		5,238
Net Income (Loss)	61,780			61,780
Foreign currency translation adjustment	34				34
Ending Balance at Mar. 31, 2023	1,659,048	$ 761	190,311	1,843,362	(180)	$ (375,206)
Ending Balance (in shares) at Mar. 31, 2023		76,099,092				(9,428,016)
Beginning Balance at Dec. 31, 2023	1,634,645	$ 761	209,830	1,949,110	(129)	$ (524,927)
Beginning Balance (in shares) at Dec. 31, 2023		76,099,092				(13,323,268)
Adjustment related to stock split		$ (32)	32
Adjustment related to stock split, (in shares)		(3,220,961)				3,220,961
Stock tendered for payments of withholding taxes related to awards vested	(8,486)					$ (8,486)
Stock tendered for payments of withholding taxes related to awards vested (in shares)						(186,067)
Purchase of treasury shares	$ (25,756)					$ (25,756)
Purchase of treasury shares (in shares)	587,928					(587,928)
Federal excise tax on purchased treasury stock	$ (1,470)					$ (1,470)
Issuance of restricted stock awards, net of forfeitures			(4,938)			$ 4,938
Issuance of restricted stock awards, net of forfeitures (in shares)						420,518
Share-based compensation expense	4,040		4,040
Dividends paid	(7,626)			(7,626)
Dividends accrued	(176)			(176)
Net Income (Loss)	27,053			27,053
Foreign currency translation adjustment	(8)				(8)
Ending Balance at Mar. 31, 2024	$ 1,622,216	$ 729	$ 208,964	$ 1,968,361	$ (137)	$ (555,701)
Ending Balance (in shares) at Mar. 31, 2024		72,878,131				(10,455,784)

Acquisitions

3 Months Ended

Mar. 31, 2024

Business Combinations [Abstract]

Acquisitions

NOTE 3. Acquisitions

Forward Air Final Mile Acquisition

On December 20, 2023, we acquired 100% of the equity interest of Forward Air Final Mile (“FAFM”). FAFM provides residential last mile delivery services and installation of big and bulky goods, with a focus on appliances, throughout the United States. Total consideration for the transaction was $261 million paid from cash on hand. The financial results of FAFM, since the date of acquisition, are included in our Logistics segment.

The FAFM acquisition expanded our final mile services to include the delivery and installation of appliances. FAFM provides residential last mile delivery services through a non-asset business model, working with a network of over 350 carriers throughout the country.

The initial accounting for the acquisition of FAFM is incomplete as we, with the support of our valuation specialist, are in the process of finalizing the fair market value calculations of the acquired net assets. In addition, the Company is in the process of preparing and reviewing the applicable future cash flows used in determining the purchase accounting. Finally, certain post-closing activities outlined in the acquisition agreement remain incomplete. As a result, the amounts recorded in the condensed consolidated financial statements related to the FAFM acquisition are preliminary and the measurement period remains open.

The following table summarizes the preliminary allocation of the total consideration to the assets acquired and liabilities assumed as of the date of the acquisition (in thousands):


	December 20, 2023
Accounts receivable trade	$	28,574
Prepaid expenses and other current assets		2,305
Property and equipment		2,793
Right-of-use assets - operating leases		15,003
Other intangibles		134,456
Goodwill		105,687
Other assets		173
Total assets acquired	$	288,991

Accounts payable trade	$	155
Accounts payable other		2,177
Accrued payroll		1,271
Accrued other		9,449
Lease liability - operating leases short-term		6,145
Other long-term liabilities		19
Lease liability - operating leases long-term		8,857
Total liabilities assumed	$	28,073

Total consideration	$	260,918

Cash paid	$	260,918

The FAFM acquisition was accounted for as a purchase business combination in accordance with ASC 805 “Business Combinations.” Assets acquired and liabilities assumed were recorded in the accompanying condensed consolidated balance sheet at their estimated fair values as of December 20, 2023 with the remaining unallocated purchase price recorded as goodwill. The goodwill recognized in the FAFM acquisition was primarily attributable to potential expansion and future development of the acquired business.

Tax history and attributes are not inherited in an equity purchase of this kind, however, the goodwill and other intangibles recognized in this purchase will be fully tax deductible over a period of 15 years.

The components of “Other intangibles” listed in the above table as of the acquisition date are preliminarily estimated based on prior final mile acquisitions as follows (in thousands):


							Estimated
			Accumulated		Balance at		Useful
	Amount		Amortization		March 31, 2024		Life
Customer relationships	$	127,733	$	2,484	$	125,249	15 years
Developed technology	$	6,723	$	490	$	6,233	4 years

The above intangible assets are amortized using the straight-line method. Amortization expense related to this acquisition for the three months ended March 31, 2024 was $2.5 million. The intangible assets have a remaining weighted average useful life of approximately 14.15 years.

Amortization expense related to FAFM for the next five years is as follows (in thousands):


	Total
2024 (Remainder of year)	$	7,647
2025		10,196
2026		10,196
2027		10,126
2028		8,516

FAFM's actual results are included in our condensed consolidated financial statements since the acquisition date of December 20, 2023. The following unaudited pro forma condensed consolidated results of operations present the effects of FAFM as though it had been acquired as of January 1, 2023 (in thousands, except for per share amounts):


	Three Months Ended
	March 31, 2023
Revenue	$	1,221,622
Net income	$	61,814
Earnings per share
Basic	$	0.95
Diluted	$	0.94

The unaudited pro forma condensed consolidated results for the annual periods were prepared using the acquisition method of accounting and are based on the historical financial information of Hub and FAFM. The historical financial information has been adjusted to give effect to the pro forma adjustments that are: (i) directly attributable to the acquisition, (ii) factually supportable and (iii) expected to have a continuing impact on the combined results. The unaudited pro forma condensed consolidated results are not necessarily indicative of what our condensed consolidated results of operations actually would have been had we completed the FAFM acquisition as of January 1, 2023.

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

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, March 31,
	2024		2023

Net income for basic and diluted earnings per share	$	27,053	$	61,780

Weighted average shares outstanding - basic		61,325		65,098

Dilutive effect of restricted stock		341		578

Weighted average shares outstanding - diluted		61,666		65,676

Earnings per share - basic	$	0.44	$	0.95

Earnings per share - diluted	$	0.44	$	0.94

Segment Reporting - Additional Information (Detail)	3 Months Ended
Segment Reporting - Additional Information (Detail)	Mar. 31, 2024 Segment Operators Containers Tractors Drivers Trailers
Segment Reporting Information [Line Items]
Number of Reportable Segments \| Segment	2
Number of tractors \| Tractors	2,300
Number of drivers \| Drivers	2,900
Number of trailers \| Trailers	4,300
Number of independent owners for contract for services \| Operators	400
Number of containers \| Containers	50,000

Earnings Per Share - Reconciliation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net income for basic and diluted earnings per share	$ 27,053	$ 61,780
Weighted average shares outstanding - basic	61,325	65,098
Dilutive effect of restricted stock	341	578
Weighted average shares outstanding - diluted	61,666	65,676
Earnings per share - basic	$ 0.44	$ 0.95
Earnings per share - diluted	$ 0.44	$ 0.94

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2024

Forward Air Final Mile Acquisition [Member]

Schedule of Total Purchase Price Allocated to Net Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary allocation of the total consideration to the assets acquired and liabilities assumed as of the date of the acquisition (in thousands):


	December 20, 2023
Accounts receivable trade	$	28,574
Prepaid expenses and other current assets		2,305
Property and equipment		2,793
Right-of-use assets - operating leases		15,003
Other intangibles		134,456
Goodwill		105,687
Other assets		173
Total assets acquired	$	288,991

Accounts payable trade	$	155
Accounts payable other		2,177
Accrued payroll		1,271
Accrued other		9,449
Lease liability - operating leases short-term		6,145
Other long-term liabilities		19
Lease liability - operating leases long-term		8,857
Total liabilities assumed	$	28,073

Total consideration	$	260,918

Cash paid	$	260,918

Schedule of Components of Other Intangibles Acquired

The components of “Other intangibles” listed in the above table as of the acquisition date are preliminarily estimated based on prior final mile acquisitions as follows (in thousands):


							Estimated
			Accumulated		Balance at		Useful
	Amount		Amortization		March 31, 2024		Life
Customer relationships	$	127,733	$	2,484	$	125,249	15 years
Developed technology	$	6,723	$	490	$	6,233	4 years

Schedule of Amortization Expense

Amortization expense related to FAFM for the next five years is as follows (in thousands):


	Total
2024 (Remainder of year)	$	7,647
2025		10,196
2026		10,196
2027		10,126
2028		8,516

Choptank Transport, LLC [Member]

Schedule of Unaudited Pro forma Condensed Consolidated Results of Operations

The following unaudited pro forma condensed consolidated results of operations present the effects of FAFM as though it had been acquired as of January 1, 2023 (in thousands, except for per share amounts):


	Three Months Ended
	March 31, 2023
Revenue	$	1,221,622
Net income	$	61,814
Earnings per share
Basic	$	0.95
Diluted	$	0.94

Fair Value Measurement

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurement

NOTE 5. Fair Value Measurement

The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximated fair value as of March 31, 2024 and December 31, 2023. As of March 31, 2024, the fair value of the Company’s fixed-rate borrowings was $3.1 million less than the historical carrying value of $334.8 million. As of December 31, 2023, the fair value of the Company's fixed-rate borrowings was $1.4 million less than the historical carrying value of $350.7 million. The fair value of the fixed-rate borrowings was estimated using an income approach based on current interest rates available to the Company for borrowings on similar terms and maturities.

We consider as cash equivalents all highly liquid instruments with an original maturity of three months or less. As of March 31, 2024 and December 31, 2023, our cash and temporary investments were with high quality financial institutions in demand deposit accounts, savings accounts, checking accounts, certificates of deposits and money market accounts.

Restricted investments included $20.4 million and $20.8 million as of March 31, 2024 and December 31, 2023, respectively, of mutual funds and other security investments which are reported at fair value. These investments relate to our non-qualified deferred compensation plan and insurance deposits.

Our assets and liabilities measured at fair value are based on valuation techniques which 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, accounts receivable, accounts payable and mutual funds and related liabilities 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.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2024	Apr. 26, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Trading Symbol	HUBG
Entity Registrant Name	HUB GROUP, INC.
Entity Central Index Key	0000940942
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity File Number	0-27754
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4007085
Entity Address, Address Line One	2001 Hub Group Way
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
Document Quarterly Report	true
Document Transition Report	false
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		61,741,180
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		574,903