Hub Group Profit Jumps 10 Percent

Hub Group Profit Jumps 10 Percent

Hub Group reported net income in the second quarter of 2013 totaling $18.6 million, up 10 percent from $17 million in the second quarter of 2012.

Total quarterly revenue for the freight transportation provider increased 8 percent year-over-year to $836.7 million, from $778.3 million in the same period last year. The Hub segment’s revenue was $645 million in the second quarter, up 8 percent from the same period last year. Intermodal segment revenue increased 4 percent to $448 million, and truck brokerage revenue improved 5 percent to $84 million. Second quarter revenue for Unyson Logistics jumped 34 percent to $113 million, and the Mode division’s revenue was $204 million, up 5 percent.

In the first six months of the year, profit totaled $34 million, versus $30.6 million in the first half of last year. Revenue was $1.6 billion, compared with $1.5 million in the year-ago period.

“All of our business lines contributed to a record second quarter,” said David P. Yeager, chairman and CEO of Hub Group, in a written statement. “We remain focused on growing profitably and expect continued growth in the second half of the year.”