John D. Boyd | Apr 19, 2011 5:50PM EDT
Intermodal service provider Hub Group reported a $10.5 million profit for the first quarter, up 21 percent from a year earlier.
Hub reported a 16 percent revenue jump to $485 million. Its main business line of putting intermodal loads aboard trains enjoyed a 17 percent increase to $336 million; that reflects a 13 percent volume spike and 3 percent higher pricing along with a 7 percent fuel charge increase, partly offset by a 6 percent decrease from traffic mix.
Truck brokerage receipts rose 1 percent to $85 million, but sales at its smaller logistics unit jumped 36 percent to $64 million.
Hub already claims the second-largest intermodal market share, after J.B. Hunt Transport Services. But it added to its market clout earlier this month when it bought Exel Transportation Services for $83 million. Hub now operates Exel as an independent unit called Mode Transportation.
It said the first-quarter results included about $1.7 million in costs related to that acquisition.
-- Contact John D. Boyd at jboyd@joc.com. Follow him on Twitter @jboydjoc.
