Hub Group Quarterly Income Drops, Increases in 2013
January 29, 2014
Photo: Evan Lockridge
Hub Group has announced financial results showing income of $16.5 million for the fourth quarter of last year or earnings per share of 45 cents, compared to $18.8 million or 51 cents per share the same time a year ago.
Income for the year was $69.1 million or earnings per share of $1.87, compared to $68 million or $1.83 per share during 2012 for the Illinois-based asset light freight transportation management company that intermodal, truck brokerage and logistics services.
Revenue rose to $885.2 million in the fourth quarter from $801 million a year earlier while it increased to $3.4 billion for all of last year versus $3.1 billion during 2012.
The company’s income was hurt by a non-cash impairment charge of $2.9 million related to changing the trade name of Comtrak Logistics to Hub Group Trucking. Excluding the effect of this item, earnings per share was increased to 50 cents per share for the final quarter of 2013.
More details are on the Hub Group website.