Intermodal strengthens Hub Group earnings
Written by William C. Vantuono, Editor-in-ChiefHub Group, Inc. late Monday reported third-quarter earnings of $16.3million, a 29% increase compared with the third quarter of 2010.
The Hub segment’s revenue increased 17% to $561 million. Third-quarter intermodal revenue increased 19% to $402 million, thanks to a 10% increase in volume and a 9% increase attributable to fuel, pricing, and mix. Truck brokerage revenue decreased 3% to $83 million, and Unyson Logistics revenue increased 39% to $76 million.
The Mode segment’s revenue was $206 million for the third quarter. Operating income was $1.7 million.
Hub Group ended the quarter with $43 million in cash.
