Hub Group subsidiary may have overstated earnings

Hub Group Inc. said today that one of its subsidiaries, Hub Group Distribution Services (HGDS), may have overstated its earnings by $3 to $4 million over the last three years, and is investigating HGDS's financial statements from 1999 to 2001 to find out where it occurred. Hub Group said it will delay its 2001 financial statement release until March, pending the completion of its investigation. HGDS,
Feb. 13, 2002
Hub Group Inc. said today that one of its subsidiaries, Hub Group Distribution Services (HGDS), may have overstated its earnings by $3 to $4 million over the last three years, and is investigating HGDS's financial statements from 1999 to 2001 to find out where it occurred.

Hub Group said it will delay its 2001 financial statement release until March, pending the completion of its investigation.

HGDS, which is 65% owned by Hub Group, was formed in 1990 to handle Hub's logistics and distribution services.

About the Author

Sean Kilcarr

Editor in Chief

Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.

 

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