Hub Group’s 2016 earnings rise on stable revenues

The Oak Brook, Ill.-based multi-modal transportation management company saw net income grow 5.4 percent to $74.8 million for the full year in 2016 even as revenues remained relatively flat compared with the previous year.    Hub Group, Inc. saw net income grow 5.4 percent to $74.8 million for the full year in 2016, according to the company’s most recent financial statements.
   The Oak Brook, Ill.-based transportation management company reported diluted earnings per common share (EPS) of $2.20 for the year, compared with $1.97 per share in 2015.
   Revenues remained relatively stable in 2016, inching up 1.3 percent year-over-year to $3.57 billion.
   Operating income at the company’s Hub segment grew 6.1 percent to $95.9 million for the year as revenues ticked up 2.1 percent year-over-year to $2.7 billion.
   Hub Group’s Mode segment reported an operating income of $28 million on $948.7 million in revenues, increases of 4.8 percent and 2.2 percent, respectively.
   Hub Group Chairman and CEO Dave Yeager attributed the “above market” revenue increase primarily to the company’s ongoing focus on excellent customer service.
   “We are pleased with the results for 2016 and the progress we have made on our goals and objectives,” said Yeager. “Looking to 2017, we remain committed to our strategy to increase market share by providing multimodal solutions for our customers.
   “We are optimistic about growing all our service lines as we focus on targeted growth initiatives,” he added. “To support this growth, we will be increasing our fleet 10 percent and investing in technology to help us exceed customer expectations and improve operating efficiencies.”