Hub Group reports record 1Q earnings

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Hub Group Inc. on Thursday, April 19, reported record income of $13.7 million for the first quarter ended March 31, an increase of 30 percent compared to the first quarter of 2011. First-quarter 2011 pre-tax income included about $1.7 million of costs related to the Mode Transportation acquisition.

The Hub segment’s revenue increased 16 percent to $563 million. Intermodal revenue increased 20 percent to $404 million, attributable to a 15 percent volume increase and a 5 percent increase for fuel, price and mix. Truck brokerage revenue decreased 6 percent to $80 million. Unyson Logistics revenue increased 23 percent to $79 million. The Hub segment’s operating income was $20.0 million.

The Mode segment’s revenue was $187 million. Operating income was $2.6 million.