Hub Group, Inc. (NASDAQ:HUBG) Q1 2022 Earnings Conference Call April 28, 2022 5:00 PM ET

Company Participants

Dave Yeager - Chairman & Chief Executive Officer

Phil Yeager - President & Chief Operating Officer

Geoff DeMartino - Executive Vice President & Chief Financial Officer

Conference Call Participants

Todd Fowler - KeyBanc

Scott Group - Wolfe Research

Tom Wadewitz - UBS

Jason Seidl - Cowen

Jon Chappell - Evercore

Bascome Majors - Susquehanna

Justin Long - Stephens

Brian Ossenbeck - JPMorgan

David Zazula - Barclays

Operator

Hello and welcome to the Hub Group First Quarter 2022 Earnings Conference Call. Dave Yeager, Hub's CEO; Phil Yeager, Hub's President and Chief Operating Officer; and Geoff DeMartino, Hub's CFO, are joining me on the call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. In order for everyone to have an opportunity to participate, please limit your inquiries to one primary and one follow-up question. [Operator Instructions]

Any forward-looking statements made during the course of the call or contained in the release represent the company's best good-faith judgment as to what may happen in the future. Statements that are forward-looking can be identified by the use of words such as believe, expect, anticipate and project and variations of these words. Please review the cautionary statements in the release. In addition, you should refer to disclosures in the company's Form 10-K and other SEC filings regarding factors that could cause actual results to differ materially from those projected in these forward-looking statements. As a reminder, this conference is being recorded.

It is now my pleasure to turn the call over to your host, Dave Yeager. You may now begin.

Dave Yeager

Good afternoon and thank you for participating in Hub Group's first quarter earnings call. Joining me today are Phil Yeager, Hub's President and Chief Operating Officer; and Geoff DeMartino, Hub's Chief Financial Officer.

I'd like to thank the Hub team for the hard work and focus on delivering great service to our customers as we achieved record earnings for the first quarter of 2022. Our non-asset-based logistics and truck brokerage business units experienced accelerating growth as they provide reliable and economical services and intermodal gained momentum throughout the quarter with continued focus on the customer and delivering excellent service. There's been a great deal of discussion of late on spot rate declines and a looming recession. While no company is immune to an economic downturn, I strongly believe that Hub is well-positioned for growth through 2022 and into 2023 and beyond. Each of the business units has built in defenses that will assist them if a slowdown should occur.