Trucking and logistics provider Roadrunner Transportation Systems reported record revenue and operating income for the third quarter.
Profits of $14.4 million, or 37 cents per diluted share, was up from $13.2 million a year earlier, or 35 cents per diluted share. Revenue for the Wisconsin-based operation in the most recent quarter increased 37.2% to $498.1 million from $363.2 million a year earlier.
"We were pleased that our truckload logistics and transportation management solutions segments once again had record revenue and operating income for the third quarter,” said Mark DiBlasi , president and CEO. “Our TL segment surpassed its previous quarterly revenue record by 13.9% and its previous quarterly record for operating income by 15%. Our TMS segment surpassed its previous quarterly revenue record by 6.6% and its previous quarterly record for operating income by 10.2%. Our LTL segment also surpassed its previous quarterly revenue record by 1%, although operating income in our less-than-truckload segment was negatively impacted by increased purchased power costs."
He said the company’s third quarter results were affected by unusually large acquisition expenses primarily related to its Active Aero acquisition in August.
Revenues for Roadrunner’s truckload logistics operation, its largest revenue segment, grew by $92.8 million, or 54.5%, during the third quarter of 2014 from the prior year third quarter. LTL revenues grew by $6.9 million, or 4.8%, while TMS revenue grew by $36.3 million, or 71.3% during the same time
“We anticipate our revenues for the fourth quarter to be in the range of $475 million to $500 million, representing an increase of 29% to 36% from the fourth quarter of 2013,” said Peter Armbruster, CFO of Roadrunner. “We expect diluted income per share available to common stockholders to be between 33 cents and 37 cents, compared to 29 cents per share in the prior year quarter."
More details are on the Roadrunner Transportation website.