Business

Hub Group reports slight increase in revenue

Posted October 31, 2020 1:00 am

OAK BROOK - Hub Group Inc. announced third quarter revenue increased by 1% to $925 million compared with $913 million for the third quarter 2019. Net income was $24.8 million, compared to net income of $26.1 million in the third quarter last year.

"Our strategy to grow with our highly valued customers, coupled with strong freight market conditions, led to a 9% increase in intermodal volume and a 1% increase in overall revenue for the quarter," said Dave Yeager, Hub Group's chairman and CEO. "We have reached our 2020 goal of $40 million of annualized savings from our profit improvement initiatives and we continue to identify additional efficiency opportunities."

Hub Group is a supply chain solutions provider, including freight transportation, truck brokerage and fleet management services.

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