Echo Reports Higher Second-Quarter Income
Echo Global Logistics’ first-quarter net income rose 2.9% to $4.2 million, or 18 cents per share, from $4.1 million, or 18 cents per share.
The Chicago-based company said July 24 its revenue increased 36.2% to $305.1 million. Net revenue, or revenue less purchased transportation costs, rose 34.5% to $53.3 million.
“Echo’s growth model delivered outstanding results as we completed another record quarter of revenue and profitability, driven by strong organic growth and the impact of our recently completed acquisitions,” Doug Waggoner, Echo CEO said in a statement.
The company said it expects full year revenue to be in a range of $1.14 billion to $1.18 billion, excluding the impact of new acquisitions.
