Hub Group’s Third-Quarter Income Declines

Hub Group Inc. said late Wednesday its third-quarter net income fell to $9.8 million, or 26 cents a share, from $16.9 million, or 45 cents, a year ago.

Revenue fell 24% to $389 million for the quarter, the company said in a statement.

Intermodal revenue fell 27% to $270 million, attributable to 9% lower volume, 12% lower fuel and a 6% decrease for price and mix.

Truck brokerage revenue decreased 27% to $74 million, while logistics revenue gained 2% to $45 million.