Echo Global Logistics, Inc. provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of motor, rail, and air freight transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truck-load, small parcel, inter-modal, domestic air, and expedited and international transportation services. Its principal logistics services include rate negotiation; procurement of transportation; shipment execution and tracking; carrier management, reporting, and compliance;...
600 West Chicago Avenue
Chicago, IL 60654
Founded in 2005
Echo Global Logistics Seeks Acquisitions
Nov 12 14
Echo Global Logistics, Inc. (NasdaqGS:ECHO) is seeking acquisitions. Doug Waggoner, Chief Executive Officer of Echo Global Logistics, said, “We are very acquisitive. We have done 18 acquisitions since about 2007. Our acquisition strategy is to buy small brokers, tuck-in acquisitions, where it is fairly easy to put them on our technology. It is fairly easy to convert them into our culture. And we look for owners that want to be part of Echo and grow their branch location as part of Ago.”
Echo Global Logistics, Inc. Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Year of 2014; Provides Tax Rate Guidance for the Fourth Quarter of 2014
Oct 23 14
Echo Global Logistics, Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income of $5.5 million or $0.23 per share, compared with the prior-year period's $4.4 million or $0.19 per share. Non-GAAP net income was $6 million or $0.25 per share, versus $4.4 million or $0.19 per share in the same quarter the previous year. Revenue was $320.6 million, up 37% from $234.8 million in the same quarter last year. Non-GAAP EBITDA was $13.5 million against $9.8 million a year ago. Non-GAAP Operating income was $9.8 million against $7.1 million a year ago. Non-GAAP Income before taxes was $9.7 million against $7.1 million a year ago. Non-GAAP net income was $6.0 million against $4.4 million a year ago. Non-GAAP fully diluted EPS was $0.25 against $0.19 a year ago. Fully Diluted EPS was $0.23 against $0.19 a year ago. Income from operations was $8,974,630 against $7,112,382 a year ago. Income before provision for income tax was $8,859,657 against $7,037,054 a year ago. In the third quarter of 2014, it generated $8.7 million in positive operating cash flow. This was a decrease of 20% from the third quarter of 2013 as operating earnings were offset by working capital required due to higher organic growth rates. Capital expenditures totaled $4.0 million in the quarter, an increase of 51% from the third quarter of 2013.
For the nine months, the company reported revenue of $873,355,913 against $662,870,833 a year ago. Income from operations was $19,883,926 against $18,728,136 a year ago. Income from operations was $8,974,630 against $7,112,382 a year ago. Income before provision for income tax was $19,651,628 against $18,451,862 a year ago. Net income was $12,131,780 or $0.51 per diluted share against $11,461,574 or $0.49 per diluted share a year ago. Net cash provided by operating activities was $27,049,208 against $21,742,005 a year ago.
The company now expects fiscal 2014 revenue of $1.16 billion - $1.18 billion.
For the fourth quarter, the company expects effective tax rate to be near 41.0%.
Echo Global Logistics, Inc. Presents at Stephens Inc. Fall Investment Conference 2014, Nov-12-2014 01:00 PM
Oct 23 14
Echo Global Logistics, Inc. Presents at Stephens Inc. Fall Investment Conference 2014, Nov-12-2014 01:00 PM. Venue: New York Palace Hotel, 455 Madison Avenue, New York, New York, United States.