Hub Group posts record third quarter net income of $9.6 million
Downers Grove, Ill.-based Hub Group, a non-asset-based provider of freight transportation management and logistics services, reported record third quarter net income of $9.6 million, up 171 percent from $3.5 million posted in the same quarter of 2004.
Hub’s operating income in the quarter jumped 10.5 percent to $15.4 million, compared to $13.9 million in the third quarter last year. Revenue increased 10.2 percent to $399.4 million from $362.1 million.
The company’s sectors posted the following results for the second quarter: intermodal revenue up 9 percent to $283.5 million; truckload brokerage up 21.6 percent to $68.3 million; and logistics revenue up 4.8 percent to $35.7 million. Revenue for Hub Group Distribution Services was flat at $11.9 million.
For the year to date, Hub reported net income of $22.8 million, compared to $10.3 million in the first nine months of 2004. Hub’s operating income increased 33.3 percent to $38 million from $28.5 million. Revenue improved 6.8 percent to $1.11 billion from $1.03 billion.