Echo Global Logistics Reports Record Third Quarter Results; Revenue up 40% and Net Revenue up 50% Year Over Year
(firmenpresse) - CHICAGO, IL -- (Marketwired) -- 10/28/15 -- Echo Global Logistics, Inc. (NASDAQ: ECHO) ("Echo" or the "Company"), a leading provider of technology-enabled transportation management services, reported today financial results for the quarter ended September 30, 2015.
"Echo delivered record results in the third quarter in terms of top line revenue and earnings," said Doug Waggoner, Chairman and Chief Executive Officer of Echo. "In a soft market with relatively loose truckload capacity, Echo was able to continue to expand its net revenue margin and continue to win market share by focusing on the service our people provide to our clients and our carriers, all while continuing to focus on the successful integration of our acquisition of Command Transportation."
Total revenue increased by 40% to $450 million from the third quarter of 2014
Total net revenue increased by 50% to $87 million from the third quarter of 2014(1)(3)
Non-GAAP EBITDA increased by 46% to $21 million from the third quarter of 2014, which includes $1.5 million of Command integration costs (2)(3)
Non-GAAP Fully Diluted EPS increased to $0.34 in the third quarter of 2015
Truckload volume increased by 134% from the third quarter of 2014
(1) Non-GAAP financial measure calculated as total revenue less transportation costs.
(2) Excludes the effects of changes in contingent consideration payable, depreciation/amortization, acquisition-related transaction costs, other expense, stock compensation, interest expense and income taxes.
(3) For a reconciliation of each non-GAAP financial measure to the nearest comparable GAAP financial measure, see "Reconciliation of Non-GAAP Financial Measures."
Summarized financial results and select operating metrics follow:
"We expect full year 2015 revenue to be in the range of $1.515 billion to $1.535 billion and fourth quarter revenue to be in the range of $410 million to $430 million," said Kyle Sauers, Chief Financial Officer of Echo. "This range reflects revenue growth in the range of 37% to 43% over the fourth quarter of 2014, despite the continuing headwind caused by lower fuel prices."
A conference call, with accompanying presentation slides, will be broadcast live on October 28, 2015 at 4:00 p.m. Central Time (5:00 p.m. Eastern Time). Doug Waggoner, Chairman and Chief Executive Officer; Dave Menzel, President and Chief Operating Officer; and Kyle Sauers, Chief Financial Officer, will host the call. To participate in the call, dial 877-303-6235 (toll free) or 631-291-4837 (toll) and reference "Echo Global Logistics." To listen to a live webcast of the call, visit the Echo website at . A replay of the webcast will be available for one year following the live webcast in the Investor Relations section of the Echo website. To listen to an audio replay, call 855-859-2056 (toll free) or 404-537-3406 (toll) and enter conference ID 52845871. The audio replay will be available through November 4, 2015.
This release includes the following financial measures defined as "Non-GAAP financial measures" by the Securities and Exchange Commission (the "SEC"): Net Revenue, Non-GAAP selling, general and administrative expense, Non-GAAP EBITDA, Non-GAAP Operating Income, Non-GAAP EBITDA Margin, Non-GAAP Net Income and Non-GAAP Fully Diluted EPS. Net revenue is calculated as total revenue less transportation costs. Non-GAAP selling, general and administrative expense describes selling, general and administrative expense excluding commission expense, changes in contingent consideration payable, acquisition-related transaction costs and stock compensation. Non-GAAP EBITDA and Non-GAAP EBITDA Margin describe net income and operating margin excluding the effects of changes in contingent consideration payable, depreciation/amortization, acquisition-related transaction costs, stock compensation, interest expense, other expense and income taxes. Non-GAAP Net Income describes net income excluding changes in contingent consideration payable, amortization, acquisition-related transaction costs, stock compensation expense and non-cash interest expense, net of their related tax impact. Non-GAAP Fully Diluted EPS describes fully diluted EPS excluding changes in contingent consideration payable, amortization, acquisition-related transaction costs, non-cash interest expense, stock compensation expense and their related tax impacts. We believe such measures provide useful information to investors because they provide information about the financial performance of the Company''s ongoing business.
Net Revenue, Non-GAAP selling, general and administrative expense, Non-GAAP EBITDA, Non-GAAP Operating Income, Non-GAAP EBITDA Margin, Non-GAAP Net Income, and Non-GAAP Fully Diluted EPS are used by management in its financial and operational decision-making and evaluation of overall operating performance. These measures may be different from similar measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles. For a reconciliation of each non-GAAP financial measure to the nearest comparable GAAP financial measure, see "Reconciliation of Non-GAAP Financial Measures" included in this release.
This release contains statements relating to future results. These statements are forward-looking statements under the federal securities laws. We can give no assurance that any future results discussed in these statements will be achieved. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. These statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this release. For a discussion of important factors that could affect our actual results, please refer to our SEC filings, including the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2014 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2015 and June 30, 2015 that we filed with the SEC.
Echo Global Logistics, Inc. (NASDAQ: ECHO) is a leading provider of technology-enabled transportation and supply chain management services. Headquartered in Chicago with more than 30 offices around the country, Echo offers freight brokerage and Managed Transportation solutions for all major modes, including TL, partial TL, LTL, intermodal, and expedited. Echo maintains a proprietary, web-based technology platform that compiles and analyzes data from its network of over 30,000 transportation providers to serve clients across a wide range of industries and simplify the critical tasks involved in transportation management. For more information on Echo Global Logistics, visit: .
ECHO: Earnings
INVESTOR RELATIONS CONTACTS:
Kyle Sauers
Chief Financial Officer
Echo Global Logistics
312-784-7695
Zach Jecklin
Director of Finance
Echo Global Logistics
312-784-2046
MEDIA CONTACTS:
Christopher Clemmensen
SVP of Marketing
Echo Global Logistics
312-784-2132
Hanni Itah
Director, Client Relations
SSPR
847-415-9324
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Datum: 28.10.2015 - 15:01 Uhr
Sprache: Deutsch
News-ID 1395180
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