• ITVI.USA
    15,466.420
    -70.120
    -0.5%
  • OTLT.USA
    2.742
    -0.012
    -0.4%
  • OTRI.USA
    20.530
    0.040
    0.2%
  • OTVI.USA
    15,439.080
    -68.090
    -0.4%
  • TSTOPVRPM.ATLPHL
    3.300
    0.000
    0%
  • TSTOPVRPM.CHIATL
    3.140
    0.190
    6.4%
  • TSTOPVRPM.DALLAX
    1.590
    0.150
    10.4%
  • TSTOPVRPM.LAXDAL
    3.330
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.170
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    4.080
    0.130
    3.3%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
  • ITVI.USA
    15,466.420
    -70.120
    -0.5%
  • OTLT.USA
    2.742
    -0.012
    -0.4%
  • OTRI.USA
    20.530
    0.040
    0.2%
  • OTVI.USA
    15,439.080
    -68.090
    -0.4%
  • TSTOPVRPM.ATLPHL
    3.300
    0.000
    0%
  • TSTOPVRPM.CHIATL
    3.140
    0.190
    6.4%
  • TSTOPVRPM.DALLAX
    1.590
    0.150
    10.4%
  • TSTOPVRPM.LAXDAL
    3.330
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.170
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    4.080
    0.130
    3.3%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
American ShipperShipping

Roadrunner posts $42 million loss

The asset-light transportation and logistics company increased its net loss despite revenues rising 5.2 percent to $558 million.

   Roadrunner Transportation Systems Inc. posted a $42 million net loss for the second quarter of 2018, compared to a net loss of $37.9 million for last year’s second quarter, according to the company’s latest financial statements.
   The Downers Grove, Ill.-based asset-light transportation and logistics company attributed the widened loss primarily to higher interest costs related to its outstanding preferred stock and a lower income tax benefit, partially offset by the absence of a loss from debt extinguishment of $9.8 million that occurred during last year’s second quarter.
   However, revenues for the second quarter of 2018 rose 5.2 percent year-over-year to $558 million.
   Roadrunner’s truckload and express services segment posted revenues of $300 million for the second quarter, up 14.1 percent year-over-year, primarily thanks to increased ground and air expedited freight and related brokerage, coupled with a strong demand environment that drove higher rates across most of the segment.
   Meanwhile, the less-than-truckload segment’s revenues for the quarter clocked in at $117.2 million, down 3.9 percent year-over-year, due to a decline in shipping volumes, partially offset by higher fuel surcharges and rates.
   The Ascent Global Logistics segment recorded revenues of $144.6 million for the quarter, a 2.4 percent dip from last year’s second quarter, due to Roadrunner divesting its wholly owned Unitrans subsidiary.
   Roadrunner signed a definite agreement in August 2017 to sell Unitrans to Quick International Courier for $95 million, and Unitrans was successfully divested in September.

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