Hub Group Net Down 22%, Revenue Up 10%

Freight transportation company Hub Group, Inc. (NASDAQ: HUBG) has reported income of $12.0 million for the first quarter ended March 31, 2014 compared to $15.4 million for the first quarter of 2013.

Hub Group’s diluted earnings per share was $0.33 for the quarter. Hub Group’s revenue increased 10% to $848 million. The Hub segment’s revenue increased 10% to $653 million. First quarter intermodal revenue increased 2% to $435 million on a 2% increase in volume.

Truck brokerage revenue increased 3% to $84 million this quarter.

First quarter Unyson Logistics revenue increased 64% to $134 million. The Hub segment’s operating income was $15.9 million. The Mode segment’s revenue increased 11% to $209 million.

Operating income was $4.6 million, an increase of 31% compared to the prior year period. Hub Group ended the quarter with $75 million in cash.

“The first quarter of 2014 was marked by a truly challenging operating environment due to the extreme weather in many markets. While this negatively impacted our financial results, we are pleased with the way our organization responded to these challenges,” said David P. Yeager, Chairman and Chief Executive Officer of Hub Group.

Hub Group, Inc. is a $3 billion asset light freight transportation management company providing intermodal, truck brokerage and logistics services.

The Company operates through a network of offices and independent agents throughout the United States, Canada and Mexico.

More at: www.hubgroup.com

Category: General Update