Multi-modal supply chain solutions provider Hub Group Inc. posted a decline in second-quarter revenue and lowered its outlook for full-year earnings as the freight market continues to challenge transportation providers, company officials said.
Management cited lower revenue per load and decreasing revenue in its intermodal segment as factors impacting second quarter results.
“We just feel that the market, both the macro and the free market, is very hard to predict,” Kevin Beth, Hub Group’s CFO, said during a call with analysts Thursday.
Oak Brook, Illinois-based Hub Group’s (NASDAQ: HUBG) released its second quarter earnings report after the market closed. The company is a provider of intermodal, truck brokerage and logistics services.