Roadrunner’s 3Q Profit Jumps 34%
Roadrunner Transportation Systems’ third-quarter profit rose 34% on growth in its truckload, less-than-truckload and specialized-segment operations, and on acquisitions.
Net income rose to $13.2 million, or 35 cents a share, from $9.9 million, or 31 cents, in the same period last year.
“The combination of strong organic and acquisition-related revenue growth led to a 30.1% increase in third-quarter revenues,” to $363.2 million, CEO Mark DiBlasi said in an Oct. 30 statement.
Truckload revenue rose 37% to $170.1 million, with acquisitions making up about $32 million of the $49 million increase.
LTL revenue rose 9% to $144.2 million, while its transportation management-solutions segment’s revenue more than doubled, to $50.9 million.
The company said its fourth-quarter revenue would be $345 million to $370 million, up 17% to 25% from last year, with earnings per share of 31 to 35 cents, up from 29 cents a year ago.
Roadrunner Transportation Systems, based in Cudahy, Wis., is ranked No. 24 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.