Hub Group, Inc. (NASDAQ:HUBG) Q2 2024 Results Conference Call August 1, 2024 5:00 PM ET

Company Participants

Phillip Yeager - President, Chief Executive Officer and Vice Chairman
Brian Alexander - Chief Operating Officer
Kevin Beth - Chief Financial Officer

Conference Call Participants

Scott Group - Wolfe Research
Bruce Chan - Stifel
Bascome Majors - Susquehanna Financial Group
Thomas Wadewitz - UBS
Christopher Kuhn - The Benchmark Company
Elliot Alper - TD Cowen
Daniel Imbro - Stephens
Brian Ossenbeck - JPMorgan
David Zazula - Barclays
Ravi Shanker - Morgan Stanley
Jon Chappell - Evercore ISI
Phil Yeager - closing remarks

Operator

Hello, and welcome to the Hub Group Second Quarter 2024 Earnings Conference Call. Phil Yeager, Hub President, Chief Executive Officer and Vice Chairman; Brian Alexander, Chief Operating Officer; and Kevin Beth, Chief Financial Officer, are joining the call.

At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the prepared remarks. In order for everyone to have an opportunity to participate, please limit your inquiries to one primary and one follow-up question.

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 the 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, Phil Yeager. You may now begin.

Phil Yeager

Good afternoon, and thank you for joining Hub Group's second-quarter earnings call. With me today are Brian Alexander, Hub Group's Chief Operating Officer; and Kevin Beth, our Chief Financial Officer.

I wanted to start by thanking all of our team members across North America for their hard work and dedication to serving our customers. The domestic grade market has continued to be challenged with a highly competitive bid season, balanced demand, and excess supply of capacity. We have seen a more stabilized inventory environment as well as incremental capacity attrition and anticipate some peak season in the West Coast due to solid import demand and potential East Coast labor disruption, which along with our recent wins should support strong volume performance through the remainder of the year.