Echo Global Logistics Reports Record First Quarter Revenue; Up 3% Year over Year
(firmenpresse) - CHICAGO, IL -- (Marketwired) -- 04/26/17 -- Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation management services, today reported financial results for the quarter ended March 31, 2017.
"Our record first quarter revenue was led by strong growth in our Managed Transportation business. We signed another $56 million of new contracts during the quarter," said Doug Waggoner, Chairman of the Board of Directors and Chief Executive Officer of Echo. "Many of these wins are a strong reflection of the combined benefits of our integration with Command Transportation. We have now achieved more than $70 million of our revenue synergy goal through additional modes and offerings to the Command client base."
Total revenue increased by 3% to $415.8 million from the first quarter of 2016; net revenue(1) was $74.5 million in the first quarter of 2017, compared to $80.8 million in the first quarter of 2016
Net loss was $2.9 million in the first quarter of 2017, compared to net income of $0.3 million in the first quarter of 2016; non-GAAP EBITDA(1) was $10.0 million in the first quarter of 2017, compared to $16.5 million in the first quarter of 2016
Fully diluted loss per share was $0.10 in the first quarter of 2017, compared to fully diluted EPS of $0.01 in the first quarter of 2016; non-GAAP fully diluted EPS(1) decreased to $0.09 in the first quarter of 2017, compared to $0.24 in the first quarter of 2016
Less-than-truckload ("LTL") volume increased 4.2% and Truckload ("TL") (includes Partial TL) volume increased 0.5% from the first quarter of 2016
(1)Represents a non-GAAP financial measure. For a reconciliation of each non-GAAP financial measure to the nearest comparable GAAP financial measure, see the "Reconciliation of Non-GAAP Financial Measures" section of this Press Release.
"We expect total revenue for the second quarter of 2017 to be between $455 million and $485 million and also reiterate our full year 2017 total revenue guidance of $1.85 billion to $1.97 billion," said Kyle Sauers, Chief Financial Officer of Echo.
A conference call, with accompanying presentation slides, will be broadcast live on April 26, 2017 at 4:00 p.m. Central Time (5:00 p.m. Eastern Time). Doug Waggoner, Chairman of the Board of Directors 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 6285901. The audio replay will be available through May 3, 2017.
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 EBITDA and Non-GAAP Fully Diluted EPS. Net revenue is calculated as total revenue less transportation costs. Non-GAAP EBITDA is defined as net (loss) income excluding the effects of changes in contingent consideration, depreciation, amortization, stock compensation expense, cash and non-cash interest expense and income taxes. Non-GAAP Fully Diluted EPS is defined as fully diluted EPS excluding changes in contingent consideration, amortization, non-cash interest expense, stock compensation expense and the tax effect of these adjustments. 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 EBITDA 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, 2016.
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 truckload, partial truckload, LTL, intermodal, and expedited. Echo maintains a proprietary, web-based technology platform that compiles and analyzes data from its network of over 40,000 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
VP of Finance
Echo Global Logistics
312-784-2046
MEDIA RELATIONS:
Christopher Clemmensen
SVP of Marketing
Echo Global Logistics
312-784-2132
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 26.04.2017 - 14:01 Uhr
Sprache: Deutsch
News-ID 1500739
Anzahl Zeichen: 3520
contact information:
Contact person:
Town:
CHICAGO, IL
Phone:
Kategorie:
Air Freight
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 873 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Echo Global Logistics Reports Record First Quarter Revenue; Up 3% Year over Year
"
steht unter der journalistisch-redaktionellen Verantwortung von
Echo Global Logistics (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
