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July 30, 2019 5:00 PM, EDT

Hub Group Reports Record Earnings Per Share for 2Q

Hub Group Russ MacNeil

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Hub Group announced net income of $29.2 million, or earnings per share of 87 cents, for the second quarter ended June 30, according to an earnings release.

The company said earnings per share were up 71%, and were a record for the second quarter. Net income for the second quarter of 2018 was $17.2 million, or $0.51 per diluted share.

Revenue for the quarter increased by 3% to $921.2 million, compared with $894.7 million for the second quarter in 2018, the company reported in its July 30 news release.

The Oak Brook, Ill.-based company reported quarterly intermodal revenue increased 1% to $542.9 million.

Truck brokerage revenue fell 7% to $107.1 million in the second quarter of 2019 compared with the same quarter of last year.

Logistics revenue grew 15% to $193.5 million, Hub Group reported.

And Hub Group’s dedicated segment revenue rose 5.1% to $77.7 million, from $73.9 million in the second quarter of 2018.

Hub Group ranks No. 30 on the Transport Topics Top 50 list of largest logistics companies in North America and No. 12 on the TT Top 100 list of the largest for-hire carriers. It ranks No. 2 on the TT list of largest intermodal and drayage companies.