Hank’s Truck Forum
Hub Group Inc. said its first-quarter profit slipped from a year ago, citing “extreme weather in many markets,” although its revenue improved.
Net income fell to $12 million, or 33 cents a share, from $15.4 million, or 42 cents, in the comparable period last year. Revenue rose 10% to $848 million.
Its Hub segment’s revenue rose 10% to $653 million, with intermodal revenue up 2% to $435 million on a 2% higher volume.
Truck brokerage revenue increased 3% to $84 million, and its Unyson Logistics unit’s revenue jumped 64% to $134 million.
“Results for our intermodal and truck brokerage business lines were impacted by challenging market conditions as well as unfavorable mix,” Chairman and CEO David Yeager said.