Hub Group’s First-Quarter Income Rises

Logistics firm Hub Group’s first-quarter income improved on higher intermodal activity.

Net income rose to $10.5 million, or 28 cents per share, from $8.7 million, or 23 cents a share, a year ago. Revenue rose 16% to $485.4 million.

The company cited costs of $1.7 million of costs related to its acquisition of Mode Transportation.

Intermodal revenue rose 17% to $336 million, led by a 13% volume increase. Truck brokerage revenue increased 1% to $85 million, while logistics revenue increased 36% to $64 million.

Hub Group is ranked No. 42 on the Transport Topics Logistics 50 list U.S. and Canadian logistics companies.