Hub Group’s 1Q Profit Falls

Intermodal firm Hub Group Inc.’s first-quarter net income fell 53% to $6.2 million, or 17 cents a share, from $13.1 million, or 35 cents, a year ago.

Revenue fell 17% to $352 million from $425 million, the company said. Hub Group also does third-party logistics and freight brokerage.

Revenue from intermodal operations declined 19% to $246 million. Hub Group attributed the loss to a 5% volume decrease and a 14% decrease related to fuel.

Truck brokerage revenue fell 24% to $68 million, while revenue from logistics gained 18% to $38 million.