Hub Group reports higher profit
Hub Group Inc. reported net profit for the second quarter ended June 30 of $13.8 million, a 10 percent increase over the same period the prior year.
Revenue in the second quarter was $401.6 million, up 1.6 percent from the same 2006 period.
The Downers Grove, Ill.-based company said its intermodal revenue was up 5 percent because of a similar increase in volume, allowing it to increase market share in an overall soft market.
David Yeager, chief executive officer, said the company was able to add new intermodal customers and volume in its wholesale business to other intermodal marketing companies. He also said Hub won new customers and bids and was also growing its domestic reload business aimed at shippers of dense products.
Yeager said the company was noticing continued improvement in rail service with better on-time performance.
Its truck brokerage business experienced lower revenues and volumes, Hub added.