Hub Grapples With Soft Intermodal Pricing in Its 1Q, but Raising FVE on Potential Tax Reform
Narrow-moat Hub Group's first-quarter gross revenue increased 11% year over year, below our expectations because of anemic pricing in the flagship intermodal operations. That said, the truck brokerage unit is trending slightly ahead of our expected run rate on improving execution despite difficult operating conditions. On the profitability front, both gross and operating margins came in shy of our anticipated run rates due in large part to the tough pricing environment for asset-light intermodal...Hub Group is a supply chain management company that provides transportation and logistics solutions. Through its network, the company arranges for the movement of freight in and out of every main city in the U.S., Canada and Mexico. The company's lines of business include: intermodal, which arranges for the movement of its customers' freight in containers and trailers; dedicated trucking, which provides a dedicated fleet of equipment and drivers to each customer; trust brokerage, which operates truck brokerage operations in the U.S.; and logistics, which provides a range of transportation management services and technology solutions, and delivers supply chain services to consumer-packaged goods clients.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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