Hub Group Reports Record First Quarter Income

Hub Group Reports Record First Quarter Income

Hub Group today reported a record income of $15.4 million for first quarter 2013, an increase of 12 percent compared with $13.7 million for first quarter 2012.

Quarterly revenue rose 4 percent from $739.9 million in 2012 to $769 million in 2013.

The Hub segment’s first quarter revenue was $592.7 million, rising 5 percent year-over-year. Intermodal revenue increased 6 percent to $427 million. The increase was attributable to a 2 percent volume increase and a 4 percent increase for price, fuel and mix, the freight transportation company said in a written statement. Truck brokerage revenue rose 4 percent year-over-year to $84 million, and Unyson Logistics revenue increased 3 percent to $82 million. The Mode segment’s revenue was $187 million.

“We are pleased with our results, delivering a 14 percent increase in earnings per share and improving margins,” said David P. Yeager, chairman and CEO of Hub Group.