Tue, Jun. 7, 5:29 PM
- Echo Global Logistics (NASDAQ:ECHO) is getting back into the M&A market after holding off on major deals for more than a year, as CEO Doug Waggoner tells WSJ the freight broker is now looking at smaller deals to “supplement what we do."
- “There are a lot of smaller players that don’t have the scale and don’t have the technology and they’re starting to realize that now is a good time to combine with somebody larger,” Waggoner says.
- Echo is most interested in bulking up its core transportation management services, which secures truck space for manufacturers and retailers, but could look outside its core business “if the right opportunity came along,” the CEO says.
- Various industry measures show shipping demand has been lagging behind 2015 volumes, and plentiful truck capacity has dragged down prices, cutting into revenues for freight brokers and putting financial pressure on smaller operators.
Wed, Apr. 27, 4:07 PM
Tue, Apr. 26, 5:35 PM
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Thu, Feb. 4, 4:03 PM
- Echo Global Logistics (NASDAQ:ECHO): Q4 EPS of $0.28 beats by $0.03.
- Revenue of $407.17M (+35.7% Y/Y) misses by $17.71M.
Wed, Feb. 3, 5:35 PM
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Dec. 23, 2015, 9:41 AM
- The American Trucking Association reports its truck tonnage index fell 0.9% M/M in November. The reading for November was 0.2% higher than the year-ago period.
- "With year-over-year gains averaging just 1.2% over the last three months, there has been a clear deceleration in truck tonnage," notes ATA Chief Economist Bob Costello.
- A high level of inventory in retail and the energy market slump could keep truck demand tepid, warns the ATA.
- Related stocks: ODFL, YRCW, RRTS, ECHO, HTLD, JBHT, SWFT, KNX, LSTR, UACL, ARCB, SAIA, CNW, XPO.
Oct. 29, 2015, 12:53 PM
Oct. 29, 2015, 10:40 AM
- Echo Global Logistics (NASDAQ:ECHO) is up 35% after reporting earnings and landing an upgrade from BB&T Trust to a Buy rating.
- The rally follows a 3-day slump in Echo in which shares peeled off over 28%.
- The company expanded net revenue margin in Q3 and grabbed market share amid a soft trucking market.
- Previously: Echo Global Logistics beats by $0.03, misses on revenue (Oct. 28 2015)
Oct. 28, 2015, 4:45 PM
- Echo Global Logistics (NASDAQ:ECHO): Q3 EPS of $0.34 beats by $0.03.
- Revenue of $450M (+40.4% Y/Y) misses by $0.75M.
Oct. 27, 2015, 5:35 PM
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Oct. 27, 2015, 3:29 PM
- Railroad and trucking stocks are down today on a mix of news seen as negative for the transportation sector. UPS reported lower package volume in Q3 and durable-goods orders fell in September.
- Decliners include Norfolk Southern (NSC -3.6%), Union Pacific (UNP -5.1%), CSX Corporation (CSX -3.8%), Kansas City Southern (KSU -4.4%), Canadian Pacific(CP -5.4%), Canadian National Railway (CNI -3.9%), Genesee & Wyoming (GWR -5.3%), XPO Logistics (XPO -11.8%), Echo Global Logistics (ECHO -12.6%), C.H. Robinson Worldwide (CHRW -2.8%), Radiant Logistics (RLGT -7.9%), FedEx (FDX -1.4%), Air T (AIRT -5.9%), and Air Transport Services (ATSG -3.2%).
- The iShares Dow Jones Transportation ETF (NYSEARCA:IYT) is down 2.7%.
- Related: Tough day for four wheelers (Oct. 27)
Aug. 24, 2015, 4:48 PM
- Logistics and transportation companies fell sharply in today’s global stock market rout, underscoring how much the companies stand to lose if global economic growth and trade continue to slow.
- FedEx (NYSE:FDX) fell ~9% early before mounting a partial recovery to end -4.9%, while other global carriers suffered declines, with UPS -3.6% and DHL parent Deutsche Post (OTCPK:DPSGY) ending -4% in German trading; A.P. Moeller-Maersk (OTCPK:AMKAF), which holds the world’s biggest container shipping capacity, ended -6.5% in Copenahgen.
- The group has enjoyed a 48% increase in revenues in the last five years to $751B in 2014, according to Stifel, as companies have increasingly looked abroad to source and sell their products and supply chains have grown more complex.
- U.S. trucking companies also sold off: YRCW -6.3%, XPO -2.4%, ECHO -4.2%.
Aug. 5, 2015, 4:15 PM
- Echo Global Logistics (NASDAQ:ECHO): Q2 EPS of $0.30 beats by $0.06.
- Revenue of $371.64M (+21.8% Y/Y) misses by $18.43M.
- Shares -0.57%.
Aug. 4, 2015, 5:35 PM
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Apr. 21, 2015, 12:47 PM
Apr. 21, 2015, 12:28 PM
- Echo Global Logistics (ECHO +26%) pops after announcing plans to acquire Command Transportation for $420M.
- The transaction arrangement includes $25M of the purchase price paid for with Echo stock.
- The company also reported Q1 earnings earlier today.
- Previously: Echo Global Logistics EPS in-line, misses on revenue
Echo Global Logistics, Inc. provides technology enabled transportation and supply chain management services, delivered on a proprietary technology platform serving the transportation and logistics needs of its clients. The company's web-based technology, dedicated service teams and robust... More
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