Hub increases 2nd quarter income 49%
The Hub Group Inc. saw second quarter income increase 49 percent to $14.4 million on the strength of 12 percent growth in intermodal volume.
Revenue increased 22 percent to $560 million, with intermodal revenue increasing 24 percent to $396 million. In the second quarter, Hub Group acquired Exel Transportation Services, renamed Mode Transportation. The company said it will report Hub's financial activities separate from Mode.
Mode revenue was $202 million for the second quarter, while operating income was $1.3 million. The Mode acquisition resulted in roughly $350,000 in acquisition and integration costs for Hub.
