Hub Group Reports Higher 2Q Earnings

Third-party logistics company and freight broker Hub Group’s second-quarter net income rose to $15 million, or 40 cents a share, from $13.8 million, or 35 cents, a year ago.

Revenue rose 22% to $490.9 million, the company said Thursday.

Intermodal revenue rose 17% to $351.6 million, due in part to a 12% fuel-related pricing increase.

Truck brokerage revenue jumped 34% to $98.7 million, while logistics revenue soared 50% to $40.6 million, the company said.

The company said its earnings for the full year will be $1.59 to $1.69 per share, in line with a previous forecast.