Hub Group revenue dips 5% for the year

OAK BROOK - Hub Group Inc. said fiscal year 2020 net income was $74 million, or diluted earnings per share of $2.19. For the full year, revenue declined 5% to $3.5 billion, and full-year operating income was $106 million. Operating income as a percentage of revenue for fiscal year 2020 was 3.0%.

"Continued strong freight market conditions, as well as our strategy to grow with strategic customers, resulted in 6% revenue growth in the (fourth) quarter and 9% intermodal volume growth," said Dave Yeager, Hub Group's chairman and chief executive officer. "We continue to invest in our business, including through additions to our container and tractor fleet and our planned capital expenditures for 2021."

The expect capital expenditures for fiscal year 2021 to range from $150 million to $170 million, and primarily consist of investments to support growth in the business, including containers and tractors, as well as investments in technology, the company said.

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