Hub Group, Inc. (NASDAQ:HUBG) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET
Company Participants
Phil Yeager – President, Chief Executive Officer and Vice Chairman
Kevin Beth – Chief Financial Officer
Conference Call Participants
Bruce Chan – Stifel
Elliot Alper – Cowen
Operator
Hello, and welcome to the Hub Group Third Quarter 2024 Earnings Conference Call. Phil Yeager, Hub's President, Chief Executive Officer and Vice Chairman; 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 prepared remarks. In order for everyone to have an opportunity to participate please limit your inquiries to one primary and one follow up question.
Statements made on this call and in other reference documents on our website that are not historical facts are forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that might cause the actual performance of Hub Group to differ materially from those expressed or implied by this discussion and, therefore, should be viewed with caution. Further information on the risks that may affect Hub Group's business is included in filings with the SEC, which are on our website. In addition, on today's call, non GAAP financial measures will be used. Reconciliations between GAAP and non-GAAP financial measures are included in our earnings release and quarterly earnings presentation. 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 third quarter earnings call. Joining me today is Kevin Beth, Hub Group's Chief Financial Officer. I wanted to start by welcoming the EASO team to the Hub Group family and thanking all of our team members across North America for their hard work and commitment to supporting our customers and one another. The broader North American transportation market is showing signs of recovery with a pulled forward peak season, capacity exits, a resilient consumer and inventory replenishment.
Outside factors such as the recent port strike and weather events did not create significant or prolonged tightness. However, we are anticipating a more constructive framework for the market due to continued strength in demand along with small carrier capacity exits and minimal growth in capital expenditures in the industry. These factors will over time lead to an improved pricing and demand environment, although the timing and velocity of that recovery remains unclear.