Hub Group’s 3Q Profit Increases Slightly

Hub Group Inc. said its third-quarter profit grew 0.6% to $18.6 million, or 50 cents a share, from $18.5 million, or 50 cents a share, a year earlier.

The third-party logistics firm’s revenue rose 10% over last year to $883 million, it said in an Oct. 17 statement.

Intermodal revenue increased 5% to $467 million in the quarter, Hub said. Truck brokerage revenue rose 1% to $88 million, and revenue in the Unyson Logistics unit grew 42% to $124 million.

“Results for the quarter for our intermodal and truck brokerage business lines were impacted by challenging market conditions as well as unfavorable mix,” Hub Chairman and CEO David Yeager said in a statement.

Hub Group is ranked No. 31 on the Transport Topics Logistics Top 50 listing of North American logistics firms.