Echo Global Logistics reports record 2018 Revenue

Echo Global Logistics, Inc., a leading provider of technology-enabled transportation management services, today reported financial results for the quarter and full year ended December 31, 2018.

“This quarter capped a fantastic year for Echo with records in revenue, volume and profitability. In a fast changing freight environment, we demonstrated the flexibility of our model and the ability to gain operating leverage while bringing great value to our shippers and carriers,” said Doug Waggoner, Chairman of the Board of Directors and Chief Executive Officer at Echo. “As we enter 2019, we will continue to invest in our technology and people to drive operational efficiencies and bring high service levels to shippers and carriers.”

Fourth Quarter 2018 Highlights

• Revenue increased 6.4% to $583.0 million from the fourth quarter of 2017
• Truckload (includes Partial TL)  (“TL”) revenue increased 4.3% and less than truckload (“LTL”) revenue increased 16.4% from the fourth quarter of 2017
• Transactional revenue increased 3.7% to $449.3 million and Managed Transportation revenue increased 16.7% to $133.6 million from the fourth quarter of 2017
• Net revenue⁽¹⁾ increased 6.4% to $102.4 million from the fourth quarter of 2017
• Net income was $6.9 million in the fourth quarter of 2018, compared to $13.3 million in the fourth quarter of 2017, which included an $8.9 million income tax benefit resulting from the Tax Cuts and Jobs Act (“TCJA”)
• Fully diluted EPS decreased to $0.25 in the fourth quarter of 2018; non-GAAP fully diluted EPS⁽¹⁾ increased to $0.47 in the fourth quarter of 2018
• Adjusted EBITDA⁽¹⁾ grew 21.8% to $25.6 million, compared to $21.0 million in the fourth quarter of 2017

To view full release and financial information, click here.