Hub Group’s 3Q income increases 29 percent

PRNewswire

DOWNERS GROVE — Hub Group reported its third quarter income increase 29 percent over the same period last year.

The company said in a statement that income for the third quarter that ended September 30 was $16.3 million.  Hub Group’s diluted earnings per share was $0.44 for the quarter.

The Hub segment’s revenue increased 17 percent to $561 million, the company said in a statement.  Third quarter intermodal revenue increased 19 percent to $402 million.  The increase was attributable to a 10 percent volume increase and a 9 percent increase for fuel, price and mix.  Truck brokerage revenue decreased 3 percent to $83 million this quarter.  Third quarter Unyson Logistics revenue increased 39 percent to $76 million.  Hub’s operating income increased $4.2 million, which represents an increase of 20 percent when compared with the prior year period.  The Hub results include approximately $335,000 of restructuring costs related to truck brokerage operations.

The company ended the quarter with $43 million in cash, the statement said.

Hub Group is a light freight transportation management company providing comprehensive intermodal, truck brokerage and logistics services. The company operates through a network of offices and independent agents throughout the United States, Canada and Mexico.