Press Release

Hub Group, Inc. Reports Record First Quarter 2007 Revenue and Earnings
DOWNERS GROVE, Ill., April 19, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Hub Group, Inc. (Nasdaq: HUBG) today reported record income from continuing operations for the quarter ended March 31, 2007 of $11.4 million, a 35% increase versus income from continuing operations for the first quarter of 2006. Hub Group's diluted earnings per share from continuing operations was $0.29 for the first quarter of 2007. This represents an increase of 38% compared to last year's first quarter diluted earnings per share from continuing operations of $0.21. Hub Group's operating margin increased to 4.6% in 2007 from 3.8% in 2006 due to yield enhancement efforts, improved operational efficiencies and growth in drayage and truck brokerage.

Hub Group's revenue increased 10.2% to $393.3 million compared to $356.8 million in the first quarter of 2006. First quarter intermodal revenue increased 10.4% to $287.8 million, which includes two months of additional revenue for Comtrak. Truck brokerage revenue increased 7.3% to $74.6 million this quarter. First quarter logistics revenue increased 16.4% to $30.9 million. Gross margin from continuing operations increased 19.6% to $56.7 million compared to the first quarter of 2006.

FULL YEAR 2007

Given the current operating environment, we are comfortable that the earnings for 2007 will be within the current analysts' range of $1.31 to $1.40 per diluted share.

CONFERENCE CALL

Hub will hold a conference call at 5:00 p.m. Eastern Time (4:00 p.m. Central Time) on Thursday, April 19, 2007 to discuss its first quarter results.

Hosting the conference call will be David P. Yeager, Vice-Chairman and Chief Executive Officer and Terri A. Pizzuto, Executive Vice-President, Chief Financial Officer and Treasurer.

This call is being webcast by Thomson/CCBN and can be accessed through the Investors link at Hub Group's Web site at http://www.hubgroup.com or individual investors can access the audio webcast at http://www.earnings.com and institutional investors can access the webcast at http://www.streetevents.com . The webcast is listen-only. Those interested in participating in the question and answer session should follow the telephone dial-in instructions below.

To participate in the conference call by telephone, please call ten minutes early by dialing (888) 396-2386. The conference call participant code is 75476610. The call will be limited to 60 minutes, including questions and answers.

An audio replay will be available through the Investors link on the Company's Web site at http://www.hubgroup.com . This replay will be available for 30 days.

ABOUT HUB GROUP: Hub Group, Inc. is a leading asset light freight transportation management company providing comprehensive intermodal, truckload brokerage and logistics services. The Company operates through a network of over 30 offices throughout the United States, Canada and Mexico.

CERTAIN FORWARD-LOOKING STATEMENTS: Statements in this press release that are not historical, including statements about Hub Group's or management's earnings guidance, intentions, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently uncertain and subject to risks. Such statements should be viewed with caution. Actual results or experience could differ materially from the forward-looking statements as a result of many factors. Factors that could cause actual results to differ materially include the factors listed from time to time in Hub Group's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended December 31, 2006. Hub Group assumes no liability to update any such forward-looking statements.



                               HUB GROUP, INC.
            UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                   (in thousands, except per share amounts)

                                                         Three Months
                                                        Ended March 31,
                                                     2007             2006
    Revenue                                        $393,297         $356,764

    Transportation costs                            336,636          309,391
      Gross margin                                   56,661           47,373

    Costs and expenses:
      Salaries and benefits                          25,610           22,881
      General and administrative                     11,601            8,969
      Depreciation and amortization                   1,172            1,859
        Total costs and expenses                     38,383           33,709

          Operating income                           18,278           13,664

    Other income (expense):
      Interest expense                                  (21)             (18)
      Interest income                                   645              446
      Other, net                                          3               30
        Total other income                              627              458

    Income from continuing operations before
     provision for income taxes                      18,905           14,122

    Provision for income taxes                        7,486            5,649

    Income from continuing operations                11,419            8,473

    Discontinued operations:
      Income from discontinued operations of HGDS       -              1,094
      Provision for income taxes                        -                437
    Income from discontinued operations                 -                657

    Net income                                      $11,419           $9,130

    Basic earnings per common share
      Income from continuing operations               $0.29            $0.21
      Income from discontinued operations               -               0.02
      Net income                                      $0.29            $0.23

    Diluted earnings per common share
      Income from continuing operations               $0.29            $0.21
      Income from discontinued operations               -               0.01
      Net income                                      $0.29            $0.22

    Basic weighted average number of shares
     outstanding                                     39,257           40,196
    Diluted weighted average number of
     shares outstanding                              39,766           41,302



                               HUB GROUP, INC.
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                     (in thousands, except share amounts)

                                                 March 31,        December 31,
                                                   2007               2006
                                                (Unaudited)
    ASSETS
      CURRENT ASSETS:
        Cash and cash equivalents                 $34,730             $43,491
        Accounts receivable
          Trade, net                              150,772             158,284
          Other                                     8,078               8,369
        Prepaid taxes                               1,098               3,202
        Deferred taxes                              3,424               3,433
        Prepaid expenses and other current
         assets                                     6,794               4,450
            TOTAL CURRENT ASSETS                  204,896             221,229

      Restricted investments                        4,278               3,017
      Property and equipment, net                  27,342              26,974
      Other intangibles, net                        7,391               7,502
      Goodwill, net                               225,448             225,448
      Other assets                                    419                 378
            TOTAL ASSETS                         $469,774            $484,548


    LIABILITIES AND STOCKHOLDERS' EQUITY
      CURRENT LIABILITIES:
        Accounts payable
          Trade                                  $110,441            $117,676
          Other                                     6,826               6,839
        Accrued expenses
          Payroll                                   8,545              18,294
          Other                                    31,567              26,617
        Related party payable                         -                 5,000
            TOTAL CURRENT LIABILITIES             157,379             174,426
      Non-current liabilities                      10,989               7,691
      Deferred taxes                               41,295              43,587
      STOCKHOLDERS' EQUITY:
        Preferred stock, $.01 par value;
         2,000,000 shares authorized; no shares
         issued or outstanding in 2007 and 2006       -                   -
        Common stock
          Class A: $.01 par value; 47,337,700
           shares authorized; 41,224,792 shares
           issued and 38,789,847 outstanding in
           2007; 41,224,792 shares issued and
           38,943,122 outstanding in 2006             412                 412
          Class B: $.01 par value; 662,300 shares
           authorized; 662,296 shares issued and
           outstanding in 2007 and 2006                 7                   7
        Additional paid-in capital                175,779             179,203
        Purchase price in excess of predecessor
         basis, net of tax benefit of $10,306     (15,458)            (15,458)
        Retained earnings                         157,662             146,243
        Treasury stock; at cost, 2,434,945
         shares in 2007 and 2,281,670 shares
         in 2006                                  (58,291)            (51,563)
          TOTAL STOCKHOLDERS' EQUITY              260,111             258,844
            TOTAL LIABILITIES AND
             STOCKHOLDERS' EQUITY                $469,774            $484,548



                               HUB GROUP, INC.
          UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                (in thousands)

                                                        Three Months Ended
                                                             March 31,
                                                        2007          2006

    Cash flows from operating activities:
      Income from continuing operations                $11,419         $8,473
      Adjustments to reconcile income from
       continuing operations to net cash provided
       by operating activities:
        Depreciation and amortization                    1,804          2,176
        Deferred taxes                                   1,652            917
        Compensation expense related to share-
         based compensation plans                          960            771
        Loss on sale of assets                               2             26
      Changes in operating assets and liabilities
       excluding effects of purchase transaction:
        Restricted investments                          (1,261)          (586)
        Accounts receivable, net                         7,803         18,172
        Prepaid taxes                                    2,104           (125)
        Prepaid expenses and other current assets       (2,344)        (1,628)
        Other assets                                       (41)           299
        Accounts payable                                (7,248)        (5,090)
        Accrued expenses                                (4,799)        (8,292)
        Non-current liabilities                           (637)           (80)
            Net cash provided by operating activities    9,414         15,033

    Cash flows from investing activities:
      Proceeds from sale of equipment                       15             26
      Purchases of property and equipment               (2,078)        (1,047)
      Cash used in acquisition of Comtrak, Inc.         (5,000)       (40,491)
          Net cash used in investing activities         (7,063)       (41,512)

    Cash flows from financing activities:
      Proceeds from stock options exercised                248          1,141
      Purchase of treasury stock                       (12,740)           (38)
      Excess tax benefits from share-based
       compensation                                      1,380          4,767
          Net cash (used in) provided by financing
           activities                                  (11,112)         5,870

    Cash flows from operating activities of
     discontinued operations                               -            1,822
    Cash flows used in investing activities of
     discontinued operations                               -              (32)
          Net cash provided by discontinued
           operations                                      -            1,790

    Net decrease in cash and cash equivalents           (8,761)       (18,819)
    Cash and cash equivalents beginning of period       43,491         36,133
    Cash and cash equivalents end of period            $34,730        $17,314

SOURCE Hub Group, Inc.

Amy Lisek of Hub Group, Inc., +1-630-795-2214
http://www.hubgroup.com