Echo Global Logistics Reports Record Second Quarter Revenue

Echo Global Logistics (NASDAQ:ECHO) reported its financial results for the quarter ended June 30, 2018 with the company’s revenue increasing 35 percent year-over-year.

The company, a leading provider of technology enabled transportation management services had a revenue of US$634.8 million and a transactional revenue of US$502.8 million.

As quoted in the press release:

“This marks our fifth quarter in a row with record revenue, driven by strong execution from our talented team of people, utilizing our highly differentiated proprietary technology,” said Doug Waggoner, Chairman of the Board of Directors and Chief Executive Officer at Echo. “In addition to our excellent growth, we are driving improved profitability.”

Second Quarter 2018 Highlights

• Revenue increased 35.0% to $634.8 million from the second quarter of 2017

• Truckload (“TL”) (includes Partial TL) revenue increased 41.0% and less than truckload (“LTL”) revenue increased 23.6% from the second quarter of 2017

• Transactional revenue increased 35.4% to $502.8 million and Managed Transportation revenue increased 33.8% to $132.0 million from the second quarter of 2017

• Net revenue⁽¹⁾ increased 30.8% to $106.8 million from the second quarter of 2017

• Net income increased to $7.7 million, compared to a net loss of $0.2 million in the second quarter of 2017

• Fully diluted EPS increased to $0.28 in the second quarter of 2018; non-GAAP fully diluted EPS⁽¹⁾ increased to $0.46 in the second quarter of 2018

• Adjusted EBITDA⁽¹⁾ grew 74.0% to $24.4 million, compared to $14.0 million in the second quarter of 2017

2018 Third Quarter and Full Year Guidance

“We expect revenue for the third quarter to be between $610 million and $650 million and we are increasing our full year 2018 revenue guidance range to $2.375 billion to $2.475 billion,” said Kyle Sauers, Chief Financial Officer at Echo.

Click here for the full text release.