Business

Hub Group reports record revenue and profits

Posted February 08, 2022 10:00 pm

OAK BROOK - Freight transportation company Hub Group Inc. Wednesday said 2021 fiscal year net income was $171 million, or diluted earnings per share of $5.06. For the full year, revenue grew 21% to a record $4.2 billion, and full year operating income was $238 million, the company said.

For the fourth quarter of 2021, net income was $84 million, or diluted earnings per share of $2.48. Net income for fourth quarter 2020 was $22 million, or $0.67 per diluted share.

"In our 50th year in business we delivered record revenue and profit as our organization continues to position itself to support our customers through innovative supply chain solutions," said Dave Yeager, Hub Group's chairman and chief executive officer. "Revenue grew 32% in the quarter due to exceptionally strong freight demand."

Strong freight demand conditions, combined with the attractive value proposition of Hub Group's service offerings, led to record quarterly revenue of $1.3 billion, the company said.

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