Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of our financial and operating data by segment

The following tables summarize our financial and operating data by segment for the three months ended June 30, 2025 and June 30, 2024 (in thousands):


Three Months Ended
June 30, 2025
	ITS		Logistics		Eliminations			Total

Operating revenue	$	528,184	$	404,310	$	(26,846	)	$	905,648

Operating expenses
Purchased transportation and warehousing		364,048		318,409		(26,553	)
Salaries and benefits		87,716		32,556		-
Depreciation and amortization		19,140		8,250		-
Insurance and claims		9,423		868		(293	)
General and administrative		8,298		6,233		-
Corporate allocations		25,018		18,053		-
(Gain) / loss on sale of assets, net		134		-		-
Total operating expenses		513,777		384,369		(26,846	)		871,300

Operating income	$	14,407	$	19,941	$	-		$	34,348


Three Months Ended
June 30, 2024
	ITS			Logistics			Eliminations			Total

Operating revenue	$	561,033		$	459,088		$	(33,626	)	$	986,495

Operating expenses
Purchased transportation and warehousing		397,129			363,424			(33,292	)
Salaries and benefits		84,157			35,029			-
Depreciation and amortization		24,045			8,021			-
Insurance and claims		10,012			1,542			(334	)
General and administrative		7,249			5,872			-
Corporate allocations		25,184			19,345			-
(Gain) / loss on sale of assets, net		(382	)		(34	)		-
Total operating expenses		547,394			433,199			(33,626	)		946,967

Operating income	$	13,639		$	25,889		$	-		$	39,528

The following tables summarize our financial and operating data by segment for the six months ended June 30, 2025 and June 30, 2024 (in thousands):


Six Months Ended
June 30, 2025
	ITS		Logistics			Eliminations			Total

Operating revenue	$	1,058,206	$	815,311		$	(52,653	)	$	1,820,864

Operating expenses
Purchased transportation and warehousing		727,962		637,929			(52,066	)
Salaries and benefits		177,247		67,412			-
Depreciation and amortization		38,089		16,536			-
Insurance and claims		18,323		2,460			(587	)
General and administrative		16,869		10,720			-
Corporate allocations		51,191		37,027			-
(Gain) / loss on sale of assets, net		68		(3	)		-
Total operating expenses		1,029,749		772,081			(52,653	)		1,749,177

Operating income	$	28,457	$	43,230		$	-		$	71,687


Six Months Ended
June 30, 2024
	ITS			Logistics			Eliminations			Total

Operating revenue	$	1,113,066		$	939,312		$	(66,390	)	$	1,985,988

Operating expenses
Purchased transportation and warehousing		785,334			747,850			(65,722	)
Salaries and benefits		169,558			69,737			-
Depreciation and amortization		48,103			16,841			-
Insurance and claims		19,855			3,327			(668	)
General and administrative		14,092			11,708			-
Corporate allocations		50,337			39,886			-
(Gain) / loss on sale of assets, net		(883	)		(34	)		-
Total operating expenses		1,086,396			889,315			(66,390	)		1,909,321

Operating income	$	26,670		$	49,997		$	-		$	76,667

The “Eliminations” column primarily relates to revenues for transportation management services provided to the Logistics segment and recognized as revenues in the ITS segment, and operating expenses incurred by the Logistics segment for these intercompany services.

Schedule of revenues from External Customers by Geographic Region

The following table summarizes our revenue from external customers by geographic region (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2025		2024		2025		2024
United States	$	878,479	$	986,362	$	1,769,045	$	1,985,740
Mexico		27,169		133		51,819		248
Revenue from external customers	$	905,648	$	986,495	$	1,820,864	$	1,985,988

Hub Group, Inc. 10-Q