Hub Group profit up 16%
Hub Group Inc. said it had second quarter net profit of $9.6 million, 16 percent more than in the second quarter of 2009.
Revenue was $458 million in the quarter ending June 30, up 26 percent from the second quarter of 2010.
David P. Yeager, chairman and chief executive officer, said the company saw a “the return of a robust freight market,” and benefited from custom retention and successful bidding for work.
“With the additional density, we have improved our drayage efficiencies and equipment utilization and look forward to meeting what we expect will be healthy demand in the second half of this year,” he added.