Hub Group Inc. (HUBG: Quote) Thursday reported an increase in profit for the first quarter on higher revenues.
The Downers Grove, Illinois-based company reported a first-quarter net profit of $13.66 million or $0.37 per share, compared to $10.50 million or $0.28 per share last year.
Excluding mode acquisition-related costs of $1.7 million, adjusted earnings for the quarter rose to $0.37 per share from $0.31 per share in the prior-year quarter. On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.36 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew to $739.89 million from $485.38 million in the prior-year quarter. Ten analysts had a consensus revenue estimate of $717.46 million for the quarter.
by RTT Staff Writer
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