Hub Group’s Second-Quarter Profit Drops

Hub Group Inc. said late Wednesday its second-quarter net income fell to $8.3 million, or 22 cents a share, from $15 million, or 40 cents, a year ago.

Revenue fell 26% to $363 million, said the company, which also has third-party logistics and freight brokerage operations.

Hub Group attributed the decline to a 10% volume decrease and an 18% decrease related primarily to fuel.

Truck brokerage revenue decreased 28% to $72 million, and logistics revenue fell 9% to $37 million.