| Delaware                                                                 | 36-4007085                                     |
|--------------------------------------------------------------------------|------------------------------------------------|
| (State      or other jurisdiction of incorporation      or organization) | (I.R.S.      Employer Identification      No.) |

| PART I.  Financial      Information:                                                                                                                                                                                                  | Page   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                            |   |
| Hub Group, Inc. -      Registrant                                                                                                                                                                                                               |   |
|                                                                                                                                                                                                                                            |   |
| Condensed      Consolidated Balance Sheets – September 30, 2009 (unaudited)      and            December 31, 2008                | 3      |
|                                                                                                                                                                                                                                            |   |
| Unaudited      Condensed Consolidated Statements of Income - Three Monthsand      Nine Months Ended September 30, 2009 and      2008                                           | 4      |
|                                                                                                                                                                                                                                            |   |
| Unaudited      Condensed Consolidated Statement of Stockholders’ Equity -      NineMonths Ended September 30,      2009                                                                                                                   | 5      |
|                                                                                                                                                                                                                                            |   |
| Unaudited      Condensed Consolidated Statements of Cash Flows - NineMonths Ended September 30, 2009      and 2008                                                                                                                              | 6      |
|                                                                                                                                                                                                                                            |   |
| Notes to Unaudited      Condensed Consolidated Financial Statements                                                                                                                                                                        | 7      |
|                                                                                                                                                                                                                                            |   |
| Management’s      Discussion and Analysis of Financial Condition andResults of    Operations                                                                                                                                              | 11     |
|                                                                                                                                                                                                                                            |   |
| Quantitative and      Qualitative Disclosures About Market Risk                                                                                                                                                                            | 16     |
|                                                                                                                                                                                                                                            |   |
| Controls and      Procedures                                                                                                                                                                                                          | 16     |
|                                                                                                                                                                                                                                            |   |
| PART II.  Other      Information                                                                                                                                                                                                      | 17     |

| HUB      GROUP, INC.                                                                                                                                                                                                                    |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| CONDENSED      CONSOLIDATED BALANCE SHEETS                                                                                                                                                                                              |   |
| (in      thousands, except share amounts)                                                                                                                                                                                               |   |
|                                                                                                                                                                                                                                    |   |   |   |
|                                                                                                                                                                                                                                    |   | September      30,2009 |   |   | December      31,2008 |   |
| ASSETS                                                                                                                                                                                                                                  |   | (unaudited) |   |   |   |   |
| CURRENT      ASSETS:                                                                                                                                                                                                                    |   |   |   |   |   |   |
| Cash      and cash equivalents                                                                                                                                                                                                          |   | $ | 122,808 |   |   | $ | 85,799 |   |
| Accounts      receivable                                                                                                                                                                                                                |   |   |   |   |   |   |   |   |
| Trade,      net                                                                                                                                                                                                                         |   |   | 158,629 |   |   |   | 145,362 |   |
| Other                                                                                                                                                                                                                                   |   |   | 9,606 |   |   |   | 10,318 |   |
| Prepaid      taxes                                                                                                                                                                                                                      |   |   | 132 |   |   |   | 123 |   |
| Deferred      taxes                                                                                                                                                                                                                     |   |   | 6,064 |   |   |   | 5,430 |   |
| Prepaid      expenses and other current assets                                                                                                                                                                                          |   |   | 6,155 |   |   |   | 4,346 |   |
| TOTAL      CURRENT ASSETS                                                                                                                                                                                                               |   |   | 303,394 |   |   |   | 251,378 |   |
|                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |
| Restricted      investments                                                                                                                                                                                                             |   |   | 8,951 |   |   |   | 6,118 |   |
| Property      and equipment, net                                                                                                                                                                                                        |   |   | 28,686 |   |   |   | 32,713 |   |
| Other      intangibles, net                                                                                                                                                                                                             |   |   | 6,276 |   |   |   | 6,610 |   |
| Goodwill,      net                                                                                                                                                                                                                      |   |   | 232,946 |   |   |   | 233,110 |   |
| Other      assets                                                                                                                                                                                                                       |   |   | 1,648 |   |   |   | 1,747 |   |
| TOTAL      ASSETS                                                                                                                                                                                                                       |   | $ | 581,901 |   |   | $ | 531,676 |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                                                                                                                                                                               |   |   |   |   |   |   |   |   |
| CURRENT      LIABILITIES:                                                                                                                                                                                                               |   |   |   |   |   |   |   |   |
| Accounts      payable                                                                                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Trade                                                                                                                                                                                                                                   |   | $ | 124,044 |   |   | $ | 105,064 |   |
| Other                                                                                                                                                                                                                                   |   |   | 7,669 |   |   |   | 6,107 |   |
| Accrued      expenses                                                                                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Payroll                                                                                                                                                                                                                                 |   |   | 9,691 |   |   |   | 9,988 |   |
| Other                                                                                                                                                                                                                                   |   |   | 22,579 |   |   |   | 26,388 |   |
| TOTAL      CURRENT LIABILITIES                                                                                                                                                                                                          |   |   | 163,983 |   |   |   | 147,547 |   |
|                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |
| Non-current      liabilities                                                                                                                                                                                                            |   |   | 11,073 |   |   |   | 9,535 |   |
| Deferred      taxes                                                                                                                                                                                                                     |   |   | 64,408 |   |   |   | 59,410 |   |
|                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |
| STOCKHOLDERS'      EQUITY:                                                                                                                                                                                                              |   |   |   |   |   |   |   |   |
| Preferred      stock, $.01 par value;  2,000,000 shares      authorized;  no shares issued or outstanding in 2009 and      2008                                                                                     |   |   | - |   |   |   | - |   |
| Common      stock                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |
| Class      A:  $.01 par value;  97,337,700 shares authorized and      41,224,792 shares issued in 2009 and 2008;  37,225,313 shares      outstanding in 2009 and 36,970,347 shares outstanding in    2008 |   |   | 412 |   |   |   | 412 |   |
| Class      B:  $.01 par value; 662,300 shares authorized; 662,296 shares      issued and outstanding in 2009 and 2008                                                                                                         |   |   | 7 |   |   |   | 7 |   |
| Additional      paid-in capital                                                                                                                                                                                                         |   |   | 170,725 |   |   |   | 174,355 |   |
| Purchase      price in excess of predecessor basis, net of tax benefit of      $10,306                                                                                                                                                  |   |   | (15,458 | ) |   |   | (15,458 | ) |
| Retained      earnings                                                                                                                                                                                                                  |   |   | 289,601 |   |   |   | 265,287 |   |
| Accumulated      other comprehensive income                                                                                                                                                                                             |   |   | 2 |   |   |   | - |   |
| Treasury      stock; at cost, 3,999,479 shares in 2009 and 4,254,445 shares in      2008                                                                                                                                                |   |   | (102,852 | ) |   |   | (109,419 | ) |
| TOTAL      STOCKHOLDERS' EQUITY                                                                                                                                                                                                         |   |   | 342,437 |   |   |   | 315,184 |   |
| TOTAL      LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                                                                         |   | $ | 581,901 |   |   | $ | 531,676 |   |
|                                                                                                                                                                                                                                    |   |
| See      notes to unaudited condensed consolidated financial      statements.                                                                                                                                                           |   |

| 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, |  |   |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                |   | 2009 |   |   | 2008 |   |   |  2009 |   |   |  2008 |   |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenue                                                                             |   | $ | 388,781 |   |   | $ | 514,212 |   |   | $ | 1,103,089 |   |   | $ | 1,430,136 |   |
| Transportation      costs                                                           |   |   | 340,581 |   |   |   | 451,052 |   |   |   | 963,958 |   |   |   | 1,249,635 |   |
| Gross      margin                                                                   |   |   | 48,200 |   |   |   | 63,160 |   |   |   | 139,131 |   |   |   | 180,501 |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs      and expenses:                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Salaries      and benefits                                                          |   |   | 22,237 |   |   |   | 24,116 |   |   |   | 67,514 |   |   |   | 73,780 |   |
| General      and administrative                                                     |   |   | 9,122 |   |   |   | 10,766 |   |   |   | 28,374 |   |   |   | 31,393 |   |
| Depreciation      and amortization                                                  |   |   | 949 |   |   |   | 995 |   |   |   | 3,229 |   |   |   | 2,987 |   |
| Total      costs and expenses                                                       |   |   | 32,308 |   |   |   | 35,877 |   |   |   | 99,117 |   |   |   | 108,160 |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      income                                                               |   |   | 15,892 |   |   |   | 27,283 |   |   |   | 40,014 |   |   |   | 72,341 |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other      income (expense):                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      expense                                                               |   |   | (26 | ) |   |   | (31 | ) |   |   | (76 | ) |   |   | (83 | ) |
| Interest      and dividend income                                                   |   |   | 29 |   |   |   | 362 |   |   |   | 120 |   |   |   | 1,040 |   |
| Other,      net                                                                     |   |   | 116 |   |   |   | (58 | ) |   |   | 188 |   |   |   | 28 |   |
| Total      other income                                                             |   |   | 119 |   |   |   | 273 |   |   |   | 232 |   |   |   | 985 |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income      before provision for income taxes                                       |   |   | 16,011 |   |   |   | 27,556 |   |   |   | 40,246 |   |   |   | 73,326 |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Provision      for income taxes                                                     |   |   | 6,180 |   |   |   | 10,626 |   |   |   | 15,932 |   |   |   | 28,291 |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income                                                                     |   | $ | 9,831 |   |   | $ | 16,930 |   |   | $ | 24,314 |   |   | $ | 45,035 |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic      earnings per common share                                                |   | $ | 0.26 |   |   | $ | 0.45 |   |   | $ | 0.65 |   |   | $ | 1.21 |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      earnings per common share                                              |   | $ | 0.26 |   |   | $ | 0.45 |   |   | $ | 0.65 |   |   | $ | 1.20 |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic      weighted average number of shares outstanding                            |   |   | 37,373 |   |   |   | 37,209 |   |   |   | 37,346 |   |   |   | 37,167 |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      weighted average number of shares outstanding                          |   |   | 37,550 |   |   |   | 37,541 |   |   |   | 37,481 |   |   |   | 37,478 |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  See      notes to unaudited condensed consolidated financial      statements. |   |   |   |

| HUB      GROUP, INC                                                             |   |
|---------------------------------------------------------------------------------|--------|
| UNAUDITED      CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY   |   |
| For      the nine months ended September 30, 2009                               |   |
| (in      thousands, except shares)                                              |   |
|                                                                            |   |   |   |
|                                                                            |   | September      30, |   |
|                                                                            |   | 2009 |   |
| Class      A & B Common Stock Shares Outstanding                            |   |   |   |
| Beginning      of year                                                          |   |   | 37,632,643 |   |
| Purchase      of treasury shares                                                |   |   | (43,218 | ) |
| Treasury      shares issued for restricted stock and stock options    exercised |   |   | 298,184 |   |
| Ending      balance                                                             |   |   | 37,887,609 |   |
|                                                                            |   |   |   |   |
| Class      A & B Common Stock Amount                                        |   |   |   |   |
| Beginning      of year                                                          |   | $ | 419 |   |
| Ending      balance                                                             |   |   | 419 |   |
|                                                                            |   |   |   |   |
| Additional      Paid-in Capital                                                 |   |   |   |   |
| Beginning      of year                                                          |   |   | 174,355 |   |
| Exercise      of non-qualified stock options                                    |   |   | (2,336 | ) |
| Share-based      compensation expense                                           |   |   | 3,218 |   |
| Tax      benefit of share-based compensation plans                              |   |   | 660 |   |
| Issuance      of restricted stock awards, net of forfeitures                    |   |   | (5,172 | ) |
| Ending      balance                                                             |   |   | 170,725 |   |
|                                                                            |   |   |   |   |
| Purchase      Price in Excess of Predecessor Basis, Net of Tax                  |   |   |   |   |
| Beginning      of year                                                          |   |   | (15,458 | ) |
| Ending      balance                                                             |   |   | (15,458 | ) |
|                                                                            |   |   |   |   |
| Retained      Earnings                                                          |   |   |   |   |
| Beginning      of year                                                          |   |   | 265,287 |   |
| Net      income                                                                 |   |   | 24,314 |   |
| Ending      balance                                                             |   |   | 289,601 |   |
|                                                                            |   |   |   |   |
| Accumulated      Other Comprehensive Income                                     |   |   |   |   |
| Beginning      of year                                                          |   |   | - |   |
| Foreign      currency translation adjustments                                   |   |   | 2 |   |
| Ending      balance                                                             |   |   | 2 |   |
|                                                                            |   |   |   |   |
| Treasury      Stock                                                             |   |   |   |   |
| Beginning      of year                                                          |   |   | (109,419 | ) |
| Purchase      of treasury shares                                                |   |   | (1,096 | ) |
| Issuance      of restricted stock and exercise of stock options                 |   |   | 7,663 |   |
| Ending      balance                                                             |   |   | (102,852 | ) |
|                                                                            |   |   |   |   |
| Total      stockholders’ equity                                           |   | $ | 342,437 |   |
|                                                                            |   |   |   |   |
| See      notes to unaudited condensed consolidated financial      statements.   |   |

| HUB      GROUP, INC.                                                                                                             |   |
|----------------------------------------------------------------------------------------------------------------------------------|--------|
| UNAUDITED      CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                   |   |
| (in      thousands)                                                                                                              |   |
|                                                                                                                             |   |   |   |
|                                                                                                                             |   | Nine      Months Ended September 30, |   |
|                                                                                                                             |   | 2009 |   |   | 2008 |   |
| Cash      flows from operating activities:                                                                                       |   |   |   |   |   |   |
|     Net      income                                                                                          |   | $ | 24,314 |   |   | $ | 45,035 |   |
|     Adjustments      to reconcile net income to net cash provided by operating      activities:              |   |   |   |   |   |   |   |   |
|        Depreciation      and amortization                                                     |   |   | 6,282 |   |   |   | 5,326 |   |
|        Deferred      taxes                                                                    |   |   | 4,465 |   |   |   | 7,459 |   |
|        Compensation      expense related to share-based compensation plans                    |   |   | 3,218 |   |   |   | 3,332 |   |
|        (Gain)      loss on sale of assets                                                     |   |   | (21 | ) |   |   | 77 |   |
|     Changes      in operating assets and liabilities:                                                        |   |   |   |   |   |   |   |   |
|        Restricted      investments                                                            |   |   | (2,833 | ) |   |   | (1,883 | ) |
|        Accounts      receivable, net                                                          |   |   | (12,555 | ) |   |   | (44,723 | ) |
|        Prepaid      taxes                                                                     |   |   | (9 | ) |   |   | - |   |
|        Prepaid      expenses and other current assets                                         |   |   | (1,809 | ) |   |   | (1,416 | ) |
|        Other      assets                                                                      |   |   | 99 |   |   |   | 208 |   |
|        Accounts      payable                                                                  |   |   | 20,542 |   |   |   | 29,920 |   |
|        Accrued      expenses                                                                  |   |   | (3,544 | ) |   |   | (7,250 | ) |
|        Non-current      liabilities                                                           |   |   | 1,601 |   |   |   | (242 | ) |
|             Net      cash provided by operating activities           |   |   | 39,750 |   |   |   | 35,843 |   |
| Cash      flows from investing activities:                                                                                       |   |   |   |   |   |   |   |   |
|      Proceeds      from sale of equipment                                                               |   |   | 72 |   |   |   | 857 |   |
|      Purchases      of property and equipment                                                           |   |   | (2,534 | ) |   |   | (7,219 | ) |
|      Cash      used in acquisition of Comtrak, Inc.                                                     |   |   | - |   |   |   | (5,000 | ) |
|             Net      cash used in investing activities               |   |   | (2,462 | ) |   |   | (11,362 | ) |
| Cash      flows from financing activities:                                                                                       |   |   |   |   |   |   |   |   |
|      Proceeds      from stock options exercised                                                         |   |   | 155 |   |   |   | 401 |   |
|      Purchase      of treasury stock                                                                    |   |   | (1,096 | ) |   |   | (2,215 | ) |
|      Excess      tax benefits from share-based compensation                                             |   |   | 660 |   |   |   | 2,709 |   |
|             Net      cash (used in) provided by financing activities |   |   | (281 | ) |   |   | 895 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
|      Effect      of exchange rate changes on cash and cash equivalents                                  |   |   | 2 |   |   |   | - |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Net      increase in cash and cash equivalents                                                                                   |   |   | 37,009 |   |   |   | 25,376 |   |
| Cash      and cash equivalents beginning of period                                                                               |   |   | 85,799 |   |   |   | 38,002 |   |
| Cash      and cash equivalents end of period                                                                                     |   | $ | 122,808 |   |   | $ | 63,378 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Supplemental      disclosures of cash paid for:                                                                                  |   |   |   |   |   |   |   |   |
|      Interest                                                                                           |   | $ | 76 |   |   | $ | 83 |   |
|      Income      taxes                                                                                  |   | $ | 11,676 |   |   | $ | 19,932 |   |
|                                                                                                                             |   |
| See      notes to unaudited condensed consolidated financial      statements.                                                    |   |

|                                                 |   | Three      Months Ended |   |   | Three      Months Ended |   |
|------------------------------------------------------|--------|-------------------------|--------|--------|-------------------------|--------|
|                                                 |   | September      30, 2009 |   |   | September      30, 2008 |   |
|                                                 |   | Income                  |   |   | Shares                  |   |   | Per      Share Amount |   |   | Income |   |   | Shares |   |   | Per      Share Amount |   |
| Basic      EPS                                       |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net      income                                |   | $                       | 9,831  |   |                    |   | 37,373 |   |   | $ | 0.26 |   |   | $ | 16,930 |   |   |   | 37,209 |   |   | $ | 0.45 |   |
|                                                 |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effect      of Dilutive Securities                   |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock      options & restricted  stock |   |                    |   |   |                    |   | 177 |   |   |   |   |   |   |   |   |   |   |   | 332 |   |   |   |   |   |
|                                                 |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      EPS                                     |   | $                       | 9,831  |   |                    |   | 37,550 |   |   | $ | 0.26 |   |   | $ | 16,930 |   |   |   | 37,541 |   |   | $ | 0.45 |   |

|                                                       |   | Nine      Months Ended  |   |   | Nine      Months Ended  |   |
|------------------------------------------------------------|--------|-------------------------|--------|--------|-------------------------|--------|
|                                                       |   | September      30, 2009 |   |   | September      30, 2008 |   |
|                                                       |   | Income                  |   |   | Shares                  |   |   | Per      Share Amount |   |   | Income |   |   | Shares |   |   | Per      Share Amount |   |
| Basic      EPS                                             |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net      income                                      |   | $                       | 24,314 |   |                    |   | 37,346 |   |   | $ | 0.65 |   |   | $ | 45,035 |   |   |   | 37,167 |   |   | $ | 1.21 |   |
|                                                       |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effect      of Dilutive Securities                         |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Stock      options & restricted  stock |   |                    |   |   |                    |   | 135 |   |   |   |   |   |   |   |   |   |   |   | 311 |   |   |   |   |   |
|                                                       |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      EPS                                           |   | $                       | 24,314 |   |                    |   | 37,481 |   |   | $ | 0.65 |   |   | $ | 45,035 |   |   |   | 37,478 |   |   | $ | 1.20 |   |

| Balance      at December 31, 2008                 |   | $      | -      |   |
|---------------------------------------------------|--------|--------|--------|--------|
|   Restructuring      expenses-severance |   |   | 872    |   |
|   Cash      payments made               |   |   | (403   | )      |
| Balance      at March 31, 2009                    |   | $      | 469    |   |
|   Restructuring      expenses-severance |   |   | 36     |   |
|   Cash      payments made               |   |   | (291   | )      |
|   Change      in estimate               |   |   | (68    | )      |
| Balance      at June 30, 2009                     |   | $      | 146    |   |
|   Restructuring      expenses-severance |   |   | 55     |   |
|   Cash      payments made               |   |   | (153   | )      |
|   Change      in estimate               |   |   | (33    | )      |
| Balance      at September 30, 2009                |   | $      | 15     |   |
|                                              |   |   |   |   |

| ·   | the      degree and rate of market growth in the domestic intermodal, truck      brokerage and logistics markets served byus; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------|

| ·   | deterioration      in our relationships with existing railroads or adverse changes to the      railroads’ operating rules; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------|

| ·   | changes      in rail service conditions or adverse weather  conditions; |
|--------------------|-------------------------------------------------------------------------|

| ·   | further      consolidation of railroads; |
|--------------------|------------------------------------------|

| ·   | the      impact of competitive pressures in the marketplace, including entry of new      competitors, direct marketing efforts by the railroads or marketing      efforts of asset-based carriers; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | changes      in rail, drayage and trucking companycapacity; |
|--------------------|-------------------------------------------------------------|

| ·   | railroads      moving away from ownership of intermodalassets; |
|--------------------|----------------------------------------------------------------|

| ·   | equipment      shortages or equipment surplus; |
|--------------------|------------------------------------------------|

| ·   | changes      in the cost of services from rail, drayage, truck or other      vendors; |
|--------------------|---------------------------------------------------------------------------------------|

| ·   | increases      in costs for independent contractors due to regulatory, judicial and legal      changes; |
|--------------------|---------------------------------------------------------------------------------------------------------|

| ·   | labor      unrest in the rail, drayage or trucking company    communities; |
|--------------------|----------------------------------------------------------------------------|

| ·   | general      economic and business conditions; |
|--------------------|------------------------------------------------|

| ·   | significant      deterioration in our customer’s financial condition, particularly in the      retail sector and durable goodssector; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | fuel      shortages or fluctuations in fuelprices; |
|--------------------|----------------------------------------------------|

| ·   | increases      in interest rates; |
|--------------------|-----------------------------------|

| ·   | changes      in homeland security or terroristactivity; |
|--------------------|---------------------------------------------------------|

| ·   | difficulties      in maintaining or enhancing our information technology      systems; |
|--------------------|----------------------------------------------------------------------------------------|

| ·   | changes      to or new governmental regulation; |
|--------------------|-------------------------------------------------|

| ·   | loss      of several of our largestcustomers; |
|--------------------|-----------------------------------------------|

| ·   | inability      to recruit and retain keypersonnel; |
|--------------------|----------------------------------------------------|

| ·   | inability      to recruit and retain drivers and owner  operators; |
|--------------------|--------------------------------------------------------------------|

| ·   | changes      in insurance costs and claimsexpense; |
|--------------------|----------------------------------------------------|

| ·   | changes      to current laws which will aid union organizing efforts;    and |
|--------------------|------------------------------------------------------------------------------|

| ·   | inability      to close and successfully integrate any future business      combinations. |
|--------------------|-------------------------------------------------------------------------------------------|

|                 |   | Three      Months Ended |    |   | Nine      Months Ended |   |
|----------------------|--------|-------------------------|---------|--------|------------------------|--------|
|                 |   | September      30,      |    |   | September      30,     |   |
|                 |   |                    |    |   |                   |   |   | % |   |   |   |   |   |   |   |   | % |   |
|                 |   | 2009                    |    |   | 2008                   |   |   | Change |   |   | 2009 |   |   | 2008 |   |   | Change |   |
|                 |   |                    |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenue              |   |                    |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Intermodal           |   | $                       | 270,104 |   |                   | $      | 369,668 |   |   |   | (26.9 | )      % |   | $ | 769,745 |   |   | $ | 1,024,079 |   |   |   | (24.8 | )      % |
| Truck      brokerage |   |                    | 74,161  |   |                   |   | 101,027 |   |   |   | (26.6 | ) |   |   | 213,600 |   |   |   | 289,603 |   |   |   | (26.2 | ) |
| Logistics            |   |                    | 44,516  |   |                   |   | 43,517 |   |   |   | 2.3 |   |   |   | 119,744 |   |   |   | 116,454 |   |   |   | 2.8 |   |
| Total      revenue   |   | $                       | 388,781 |   |                   | $      | 514,212 |   |   |   | (24.4 | )      % |   | $ | 1,103,089 |   |   | $ | 1,430,136 |   |   |   | (22.9 | )      % |

|                                                             |   | Three      Months Ended |   |   | Nine      Months Ended |   |
|------------------------------------------------------------------|--------|-------------------------|--------|--------|------------------------|--------|
|                                                             |   | September      30,      |   |   | September      30,     |   |
|                                                             |   | 2009                    |   |   | 2008                   |   |   | 2009 |   |   | 2008 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |
| Revenue                                                          |   |                    | 100.0  | %      |                   |   | 100.0 | % |   |   | 100.0 | % |   |   | 100.0 | % |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Transportation      costs                                        |   |                    | 87.6   |   |                   |   | 87.7 |   |   |   | 87.4 |   |   |   | 87.4 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Gross      margin                                                |   |                    | 12.4   |   |                   |   | 12.3 |   |   |   | 12.6 |   |   |   | 12.6 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Costs      and expenses:                                         |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|      Salaries      and benefits         |   |                    | 5.7    |   |                   |   | 4.7 |   |   |   | 6.1 |   |   |   | 5.2 |   |
|      General      and administrative    |   |                    | 2.4    |   |                   |   | 2.1 |   |   |   | 2.6 |   |   |   | 2.2 |   |
|      Depreciation      and amortization |   |                    | 0.2    |   |                   |   | 0.2 |   |   |   | 0.3 |   |   |   | 0.2 |   |
| Total      costs and expenses                                    |   |                    | 8.3    |   |                   |   | 7.0 |   |   |   | 9.0 |   |   |   | 7.6 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      income                                            |   |                    | 4.1    |   |                   |   | 5.3 |   |   |   | 3.6 |   |   |   | 5.0 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Other      income:                                               |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|      Interest      and dividend income  |   |                    | 0.0    |   |                   |   | 0.1 |   |   |   | 0.0 |   |   |   | 0.1 |   |
|      Total      other income            |   |                    | 0.0    |   |                   |   | 0.1 |   |   |   | 0.0 |   |   |   | 0.1 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Income      before provision for income taxes                    |   |                    | 4.1    |   |                   |   | 5.4 |   |   |   | 3.6 |   |   |   | 5.1 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Provision      for income taxes                                  |   |                    | 1.6    |   |                   |   | 2.1 |   |   |   | 1.4 |   |   |   | 2.0 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income                                                  |   |                    | 2.5    | %      |                   |   | 3.3 | % |   |   | 2.2 | % |   |   | 3.1 | % |

| 2009                     |   | $      | 4,686  |   |
|--------------------------|--------|--------|--------|--------|
| 2010                     |   |   | 16,704 |   |
| 2011                     |   |   | 14,889 |   |
| 2012                     |   |   | 11,552 |   |
| 2013                     |   |   | 4,346  |   |
| 2014      and thereafter |   |   | 2,006  |   |
|                     |   | $      | 54,183 |   |

| 2010                     |   | $      | 1,789  |   |
|--------------------------|--------|--------|--------|--------|
| 2011                     |   |   | 667    |   |
| 2012                     |   |   | 757    |   |
| 2013                     |   |   | 704    |   |
| 2014      and thereafter |   |   | 7,231  |   |
|                     |   | $      | 11,148 |   |

|                        | HUB GROUP,INC. |                                                                                            |
|-----------------------------|----------------|-------------------------------------------------------------------------------------------------|
|                        |           |                                                                                            |   |
| Date:      October 23, 2009 | By:            | /s/ Terri      A. Pizzuto                                                                  |   |
|                        |           | Name:      Terri A. Pizzuto                                                                |   |
|                        |           | Title:      Executive Vice President, Chief Financial Officer                                   |   |
|                        |           |                 and Treasurer                 |   |
|                        |           |                 (Principal Financial Officer) |   |

| 31.1 | Certification      of David P. Yeager, Chairman and Chief Executive Officer, Pursuant to Rule      13a-14(a) under the Securities Exchange Act of  1934. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.2 | Certification      of Terri A. Pizzuto, Executive Vice President, Chief Financial Officer and      Treasurer, Pursuant to Rule 13a-14(a) under the Securities Exchange Act of      1934. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.1 | Certification      of David P. Yeager and Terri A. Pizzuto, Chief Executive Officer and Chief      Financial Officer, respectively, Pursuant to 18 U.S.C. Section      1350. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|