The trucking industry’s issues with driver availability along with customers’ commitment to sustainability are factors that could support growth for intermodal beyond 2021 and 2022, executives said during Hub Group’s earnings call on Thursday.
Anticipated growth for intermodal will help to support Hub Group’s investments for that sector in 2021.
Retailers will want to pull forward inventory ahead of the 2021 peak season, the intermodal marketing company said. Fourth-quarter 2020 revenue grew by 6% although net profit slipped by 20% year-over-year.
While Hub Group reported a
good quarter, its near-term outlook is pretty rough. In short, Hub Group doesn’t see a peak season coming in 2019.
The share repurchase in its entirety represents a little more than 7.5 percent of the company’s outstanding common shares.
After strong fourth-quarter earnings results, weather and other external forces are expected to weigh on earnings reports in the first quarter, resulting in a mixed bag for public companies.
