Hub Group Inc. on Wednesday, April 21, reported net income for the quarter ended March 31 of $8.7 million and diluted earnings per share of $0.23, an increase of 35 percent compared to last year’s first-quarter diluted earnings per share of $0.17.
Revenue increased 19 percent to $417 million compared to $352 million. Intermodal revenue increased 17 percent to $287 million, attributable to a 16 percent volume increase and a 6 percent increase for fuel, partially offset by a 5 percent decrease for price and mix. Truck brokerage revenue increased 23 percent to $83 million, and logistics revenue increased 23 percent to $47 million. Hub Group generated $18 million of cash flow from operations and ended the quarter with $142 million in cash.
“We have started 2010 with a good first quarter,” said David P. Yeager, chairman and chief executive officer of the Downers Grove, Ill.-based company. “All three business lines showed solid growth, and we look forward to taking this positive momentum into the quarters ahead.”