Roadrunner’s Second-Quarter Income Rises
Roadrunner Transportation Systems’ second-quarter net income increased to $14.8 million, or 38 cents per share, from $14 million, or 37 cents.
Roadrunner, based in Cudahy, Wisconsin, said revenue rose 38.6% to $460.2 million, led by a 43.1% rise in truckload revenue, its largest business, to $230.8 million.
Profit before interest and taxes rose 15.7% to $32.7 million. Less-than-truckload revenue increased 2.5% to $150.2 million.
The transportation management unit that offers logistics services raised profitability to $6.1 million from $4 million, and revenue increased 202% due to acquisitions.
“Our LTL business is undergoing a transition phase and shift in freight mix that impacted our LTL operating results for the first half of 2014,” Roadrunner CEO Mark DiBlasi said in a statement.
“We are optimistic that the changes and leadership transition we are undergoing in LTL will set the stage for long-term growth in this core segment,” DiBlasi said.
Roadrunner ranks No. 21 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
