Less than a month after saying it would explore strategic alternatives for Mode Transportation, Hub Group found a buyer to pay more than $200 million for its agent-based multimodal freight brokerage business.

Hub Group is exploring a possible sale of Mode Transportation, an operating unit that provides truck and rail freight brokerage and logistics services.

Hub Group reported higher revenue and profits in the first quarter of 2018 with growth coming from intermodal, logistics and dedicated contract carriage operations.

Hub Group reported record revenue and higher profits in the fourth quarter and full year in 2017 as the nation’s largest intermodal marketing company continues to grow its logistics and trucking operations.

Intermodal, trucking and logistics provider Hub Group had to wrestle with margin compression and acquisition-related expenses that caused second-quarter net income to plummet 53.8% even as revenue expanded by 8.1%.

Intermodal rail and trucking companies are competing to meet the transportation needs of e-commerce businesses while adapting to how these new supply chains differ from those of traditional brick-and-mortar retailers.

Sandwiched between “soft pricing” and unyielding costs, intermodal, trucking and brokerage company Hub Group reported a significant decline in first-quarter net income even as revenue increased.

Hub Group named Donald Maltby as president and chief operating officer, replacing Mark Yeager, who resigned on Aug. 8.

Mark Yeager has resigned as president and chief operating officer of Hub Group and will be replaced on an interim basis by his brother, David Yeager. 

Hub Group Inc. said its third-quarter income declined due to driver-settlement and software-development charges.