Business

Hub Group revenue up 10%

Posted May 05, 2021 11:00 pm

OAK BROOK - Hub Group Inc. said its first quarter net income was $17.2 million, or diluted earnings per share of 51 cents. Net income for the same period last year was $13.2 million, or 40 cents per diluted share.

"Strong freight market conditions, growth with our strategic customers, and our focus on providing a world-class customer experience resulted in 10% revenue growth in the quarter," said Dave Yeager, Hub Group's chairman and chief executive officer.

Revenue for the first quarter increased by 10% to $920 million compared to $839 million for the first quarter of 2020. Operating income for the quarter was $24 million versus $20 million for the same period last year.

Truck brokerage revenue grew 30% in the quarter to $127 million despite a 6% decline in volume.

Hub Group, with 5,000 employees across the globe and annual revenues of $3.7 billion, offers comprehensive transportation and logistics management solutions.

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