Hub Group third quarter income up 60%
The Hub Group Friday reported record income from operations for the quarter ending Sept. 30 of $13.5 million, a 60 percent increase over the third quarter of 2005.
Revenue grew 11.5 percent to $432 million, compared to $387.4 million in the third quarter of 2005. Intermodal revenue increased 12.3 percent to $318.9 million, while truck brokerage revenue improved 14.1 percent to $77.1 million this quarter. Logistics revenue was up 0.4 percent to $36 million.
“We are proud of our results for the quarter. In addition to strong operating results, we executed our $45 million stock buyback plan and ended the quarter with $32.9 million in cash,” said David Yeager, vice chairman and chief executive officer, in a statement.