Transportation management company Hub Group in Downers Grove reported record income of $18.6 million for the second quarter of 2013, an increase of 10 percent over the same period last year.
Hub Group's diluted earnings per share was 50 cents for the second quarter of 2013, up 9 percent compared with the prior year period. Hub Group's revenue increased 8 percent to $837 million.
The Hub segment's revenue increased 8 percent to $645 million. Second quarter intermodal revenue increased 4 percent to $448 million. Truck brokerage revenue increased 5 percent to $84 million this quarter. Second quarter Unyson Logistics revenue increased 34% to $113 million. The Hub segment's operating income was $25.5 million.
The Mode segment's revenue increased 5% to $204 million. Operating income was $5.0 million, an increase of 71 percent compared to the prior year period.
Hub Group ended the quarter with $72 million in cash.
"All of our business lines contributed to a record second quarter. We remain focused on growing profitably and expect continued growth in the second half of the year," said Hub Group Chairman and CEO David P. Yeager.Copyright © 2014 Paddock Publications, Inc. All rights reserved.