Hub intermodal revenue up 26% in quarter
Written by William C. Vantuono, Editor-in-ChiefHub Group, Inc. reported Wednesday that second-quarter intermodal revenue rose 26% to $320 million compared with the same period last year, an increase attributable to a 25% volume increase and an 8% increase for fuel, partially offset by a 7% decrease for price and mix.
The company’s two other units also prospered. Truck brokerage revenue increased 21% to $86 million and second-quarter Unyson Logistics revenue was up 38% to $52 million.
Hub Group reported income of $9.6 million for the quarter, an increase of 16% compared with the second quarter of 2009.
“The return of a robust freight market coupled with the retention of our long-standing customer relationships and success in the bids this year helped drive our impressive volume and earnings growth this quarter,” said David P. Yeager, chairman and chief executive officer. “With the additional density, we have improved our drayage efficiencies and equipment utilization and look forward to meeting what we expect will be healthy demand in the second half of this year.”
