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Multi-modal freight transporter Hub Group Inc. has reported increases in fourth quarter 2015 and full year profits as revenue for both periods drifted lower for the Illinois-based operation.
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More trucking companies have released their third quarter financial earnings, showing improvements from a year earlier or at least maintaining their ground, despite complaints about the recent freight-hauling environment.
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Mark Yeager resigned his position as president and chief operating officer of Hub Group effective August 8.
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Two freight transportation providers, Forward Air and Hub Group, along with dealer group Rush Enterprises, saw second quarter earnings drop.
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Hub Group Inc. did something few other large publicly traded trucking operations have done in announcing earnings: It reported a slight decline in profits.
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The Illinois-based operation reported income of $4.5 million compared to $18.6 million in the third quarter of 2013 with diluted earnings per share of 12 cents compared to 50 cents a year earlier.
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UPDATED -- Due to litigation and upcoming settlements, one trucking operation is abandoning its owner-operator business model in California.
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The trucking operation Hub Group has reported a 22% drop in first quarter income compared to the same time last year while revenue increased 10%.
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The Illinois-based company says the change formally recognizes the growing importance of trucking operations as an integral part of Hub Group's expanding portfolio of transportation service offerings.
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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...
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