EGL Reports Lower 2Q Earnings, Higher Revenue

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ogistics firm EGL Inc. reported Thursday that its net second-quarter income was $12.7 million or 25 cents a share, down from $14.1 million or 30 cents for the same quarter last year.

Revenue rose 23% to $781.3 million, the company said in a statement. Air freight revenue rose 23%, ocean revenue increased 26% and customs and brokerage logistics revenue grew 19% more than the previous second quarter.

EGL had said in late June that its second-quarter earnings would be 22 to 24 cents, including a 2-cent restructuring charge, and that its revenue would be 17% to 20% above last year. (Click here for previous coverage.)

The company said its third and fourth quarter earnings-per-share would be 31 cents to 35 cents, compared with 34 cents in the third quarter and 26 cents in the fourth quarter of 2004.

EGL, which operates under the name EGL Eagle Global Logistics, is ranked No. 16 on the Transport Topics Logistics 50 listing of the largest U.S. and Canadian logistics companies.