Hub Group announces 28% increase in 3Q profit

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Updated Apr 11, 2017

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Hub Group Inc. reported income of $12.6 million for the third quarter of 2010 ended Sept. 30, an increase of 28 percent compared to the third quarter of 2009. The company said each of its three business lines contributed to its overall revenue increase of 23 percent to $478 million.

Intermodal revenue increased 25 percent to $338 million, attributable to a 22 percent volume increase, a 4 percent increase for fuel and a 3 percent increase in pricing, partially offset by a 4 percent decrease for mix. Truck brokerage revenue increased 16 percent to $86 million. Unyson Logistics revenue increased 23 percent to $54 million.

“We are pleased with our third-quarter results, which include continued volume growth along with improving margins,” said David P. Yeager, chairman and chief executive officer of Downers Grove, Ill.-based Hub Group. “Our intermodal, truck brokerage and logistics revenue each grew by more than 15 percent, and for the second quarter in a row, we increased our intermodal volume by more than 20 percent. We look forward to a strong finish to the year.”