Hub Group is a North American supply chain solutions provider that arranges freight transportation and logistics services for shippers across retail, consumer products, automotive, and other sectors. Hub Group's core business is intermodal freight — arranging door-to-door shipments using a combination of rail for long-haul legs and trucks for local pickup and delivery (drayage). Hub owns a fleet of roughly 50,000 dry and 900 refrigerated containers, and handles about 73% of drayage with its own fleet of approximately 2,300 tractors. Hub Group operates two segments: Intermodal and Transportation Solutions (~55% of FY24 revenue) and Logistics (~45%). The logistics segment covers freight brokerage, managed transportation, consolidation and fulfillment, and final mile delivery of large items like appliances. Hub makes money on the spread between what it charges customers and what it pays railroads, trucking carriers, and other vendors. Intermodal profitability is driven primarily by pricing, followed by volume and network balance between headhaul and backhaul lanes. Brokerage margins are more volatile, fluctuating with truckload market conditions. Hub describes itself as asset-light given its reliance on third-party rail and carriers, though its owned container and tractor fleets require ongoing capital investment. Hub has expanded through acquisitions in non-asset logistics, including final mile providers and a controlling stake in EASO, Mexico's largest intermodal marketing company.