Hub Group reports earnings jump
Hub Group Inc. said it had first quarter net profit of $8.7 million, 35 percent more than in the same 2009 period.
Hub’s revenue increased 19 percent to $417 million compared to $352 million in the first quarter of 2009.
Intermodal revenue increased 17 percent to $287 million. The increase was attributable to a 16 percent volume increase and a 6 percent increase for fuel, partially offset by a 5 percent decrease because of the price and mix of business.
Truck brokerage revenue increased 23 percent to $83 million. Logistics revenue increased 23 percent to $47 million.