Hub Group announces its 2018 results

Hub Group

Hub Group has reported its results for year ending December 31, 2018. It reported revenues of $3.6bn, an increase of 18% on 2017. Net income increased by nearly half to $201.7m from $135m in 2017 whilst operating income increased by 72% to $124.9m.

Hub Group’s intermodal segment revenue increased by 17% to $2.1bn, truck brokerage revenue grew by 3.2% to $497m, logistics revenue increased from $655.5m to $698m and dedicated segment saw revenue grow by 154% from $115m in 2017 to $292m in 2018.

For 2019, Hub Group expects amortisation expense associated with the CaseStack and Hub Group Dedicated acquisitions will be approximately $13.5m and the compensation expense related to restricted stock issued to CaseStack management in connection with the acquisition will be approximately $2.4m in 2019. It estimates that 2019 capital expenditures will range from $90m to $100m.

Source: Hub Group