Roadrunner Posts Second-Quarter Profit
Roadrunner Transportation Systems reported a second-quarter profit, compared with a loss a year ago, on higher freight revenue.
Net income was $7.4 million, or 24 cents a share, turning around the year-ago loss of $6.4 million, or 25 cents per share.
Roadrunner, which went public last year, said late Wednesday its revenue rose 30.4% to $208.3 million.
Less-than-truckload revenue rose 14.2% including fuel to $121.4 million. Truckload revenue jumped 82.7% to $68.7 million.
The truckload sector improvement was due primarily higher pricing and load growth, the expansion of its truckload brokerage agent network and the acquisitions of Morgan Southern and Bruenger Trucking.
The company said earlier this week it acquired The James Brooks Co., a drayage and intermodal transportation company that operates at the California ports of Oakland and Los Angeles/Long Beach.
Roadrunner is ranked No. 38 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
