8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES AND EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported) October 22, 2007

HUB GROUP, INC.

(Exact name of registrant as specified in its charter)

DELAWARE

(State or Other Jurisdiction of Incorporation)

0-27754	36-4007085
(Commission File Number)	(I.R.S. Employer Identification No.)

3050 Highland Parkway, Suite 100

Downers Grove, Illinois 60515

(Address and zip code of principal executive offices)

(630) 271-3600

(Registrant’s telephone number, including area code)

        Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant any of the following provisions:

     [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02       RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On October 22, 2007, Hub Group, Inc. issued a press release announcing its third quarter 2007 operating results. The press release is furnished as Exhibit 99.1 to this Form 8-K.

ITEM 9.01.   Financial Statements and Exhibits

The following documents are filed as part of the report:

(a)	Not Applicable.
(b)	Not Applicable.
(c)	Not Applicable.
(d)	A list of exhibits filed herewith is contained on the Exhibit
	Index which immediately precedes such exhibits and is
	incorporated herein by reference.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	HUB GROUP, INC.
DATE: October 23, 2007	By /s/ Terri A. Pizzuto
	Terri A. Pizzuto
	Executive Vice President, Chief
	Financial Officer and Treasurer

EXHIBIT INDEX

Exhibit No.

99.1 Press release, issued on October 22, 2007, announcing operating results for Hub Group, Inc. for the third quarter 2007.

EX-99.1

Hub Group, Inc. Reports Record Third Quarter 2007 Earnings

DOWNERS GROVE, IL, October 22, 2007, -- Hub Group, Inc. (NASDAQ: HUBG) today reported record income for the quarter ended September 30, 2007 of $16.6 million, a 23% increase versus income for the third quarter of 2006. Hub Group’s diluted earnings per share was $0.42 for the third quarter of 2007.  This represents an increase of 27% compared to last year's third quarter diluted earnings per share of $0.33.  Hub Group’s operating margin increased to 5.9% in 2007 from 5.1% in 2006 due to improved operational efficiencies and cost controls.

Hub Group’s revenue decreased 3.3% to $417.8 million compared to $432.0 million in the third quarter of 2006.  Third quarter intermodal revenue decreased 4.9% to $303.3 million.  The decrease was attributable to a 2% volume decline and a 3% decrease related to price and mix.  Truck brokerage revenue was flat at $77.1 million this quarter.  Third quarter logistics revenue increased 4.1% to $37.4 million.  Gross margin increased 0.3% to $57.5 million compared to the third quarter of 2006.

Hub Group also announced that it has terminated its acquisition of DNJ Transportation.  The closing was expected to occur around the beginning of October but was subject to certain conditions and approvals.  Several of these conditions were not met and therefore Hub elected not to proceed with the transaction.

FULL YEAR 2007

We expect that the earnings for 2007 will be within a range of $1.39 to $1.44 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 Monday, October 22, 2007 to discuss its third 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 (866) 700-6293. The conference call participant code is 38099567. 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, truck 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 and the report on Form 10-Q for the periods ended March 31, 2007 and June 30, 2007.  Hub Group assumes no liability to update any such forward-looking statements.

SOURCE: Hub Group, Inc.

CONTACT: Amy Lisek of Hub Group, Inc., +1-630-795-2214

HUB GROUP, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2007			2006				2007			2006
Revenue	$	417,842		$	432,009		$	1,212,704		$	1,184,069
Transportation costs		360,332			374,673			1,040,770			1,023,869
Gross margin		57,510			57,336			171,934			160,200
Costs and expenses:
Salaries and benefits		22,100			23,965			71,887			71,271
General and administrative		9,596			9,890			31,415			28,585
Depreciation and amortization		1,080			1,642			3,455			5,029
Total costs and expenses		32,776			35,497			106,757			104,885
Operating income		24,734			21,839			65,177			55,315
Other income (expense):
Interest expense		(33	)		(22	)		(78	)		(65	)
Interest income		711			670			1,967			1,668
Other, net		24			7			82			63
Total other income		702			655			1,971			1,666
Income from continuing operations before provision for income taxes		25,436			22,494			67,148			56,981
Provision for income taxes		8,828			9,000			25,346			22,795
Income from continuing operations		16,608			13,494			41,802			34,186
Discontinued operations:
Income from discontinued operations of HGDS		-			-			-			1,634
Provision for income taxes		-			-			-			653
Income from discontinued operations		-			-			-			981
Net income	$	16,608		$	13,494		$	41,802		$	35,167
Basic earnings per common share
Income from continuing operations	$	0.43		$	0.34		$	1.07		$	0.85
Income from discontinued operations	$	-		$	-		$	-		$	0.02
Net income	$	0.43		$	0.34		$	1.07		$	0.87
Diluted earnings per common share
Income from continuing operations	$	0.42		$	0.33		$	1.06		$	0.83
Income from discontinued operations	$	-		$	-		$	-		$	0.02
Net income	$	0.42		$	0.33		$	1.06		$	0.85
Basic weighted average number of shares outstanding		38,777			39,773			39,026			40,246
Diluted weighted average number of shares outstanding		39,230			40,572			39,511			41,161

HUB GROUP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share amounts)
	September 30, 2007			December 31, 2006
ASSETS	(unaudited)
CURRENT ASSETS:
Cash and cash equivalents	$	39,824		$	43,491
Accounts receivable
Trade, net		181,601			158,284
Other		11,296			8,369
Prepaid taxes		86			2,119
Deferred taxes		4,207			3,433
Prepaid expenses and other current assets		5,244			4,450
TOTAL CURRENT ASSETS		242,258			220,146
Restricted investments		5,116			3,017
Property and equipment, net		29,477			26,974
Other intangibles, net		7,168			7,502
Goodwill, net		225,448			225,448
Other assets		1,440			1,461
TOTAL ASSETS	$	510,907		$	484,548
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable
Trade	$	129,986		$	117,676
Other		6,091			6,839
Accrued expenses
Payroll		12,484			18,294
Other		35,742			26,617
Related party payable		-			5,000
TOTAL CURRENT LIABILITIES		184,303			174,426
Non-current liabilities		13,400			7,691
Deferred taxes		42,248			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;  97,337,700 shares authorized in 2007; 41,224,792 shares issued and 38,217,278 outstanding in 2007; 47,337,700 shares authorized in 2006;  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		176,317			179,203
Purchase price in excess of predecessor basis, net of tax benefit of $10,306		(15,458	)		(15,458	)
Retained earnings		188,045			146,243
Treasury stock; at cost, 3,007,514  shares in 2007 and 2,281,670 shares in 2006		(78,367	)		(51,563	)
TOTAL STOCKHOLDERS' EQUITY		270,956			258,844
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	510,907		$	484,548

HUB GROUP, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
	Nine Months Ended September 30,
	2007			2006
Cash flows from operating activities:
Income from continuing operations	$	41,802		$	34,186
Adjustments to reconcile income from continuing operations to net cash
provided by operating activities:
Depreciation and amortization		5,475			6,410
Deferred taxes		3,178			12
Compensation expense related to share-based compensation plans		2,893			2,649
Gain on sale of assets		(156	)		(31	)
Changes in operating assets and liabilities excluding effects of purchase transaction:
Restricted investments		(2,099	)		(1,163	)
Accounts receivable, net		(26,244	)		(6,325	)
Prepaid taxes		2,033			5,295
Prepaid expenses and other current assets		(794	)		(1,202	)
Other assets		21			234
Accounts payable		11,562			13,904
Accrued expenses		3,315			9,152
Non-current liabilities		418			-
Net cash provided by operating activities		41,404			63,121
Cash flows from investing activities:
Proceeds from sale of equipment		715			228
Purchases of property and equipment		(8,203	)		(5,247	)
Cash used in acquisition of Comtrak, Inc.		(5,000	)		(39,942	)
Proceeds from the disposal of discontinued operations		-			12,203
Net cash used in investing activities		(12,488	)		(32,758	)
Cash flows from financing activities:
Proceeds from stock options exercised		703			1,924
Purchase of treasury stock		(37,142	)		(45,191	)
Excess tax benefits from share-based compensation		3,856			7,897
Net cash used in by financing activities		(32,583	)		(35,370	)
Cash flows from operating activities of discontinued operations		-			1,848
Cash flows used in investing activities of discontinued operations		-			(38	)
Net cash provided by discontinued operations		-			1,810
Net decrease in cash and cash equivalents		(3,667	)		(3,197	)
Cash and cash equivalents beginning of period		43,491			36,133
Cash and cash equivalents end of period	$	39,824		$	32,936