Chris Jamroz doesn’t mince words about what he found at Roadrunner, but a new ownership structure launches its next phase
A federal appellate court has upheld the conviction of ex-Roadrunner Transportation Systems CFO Peter Armbruster for his role in a securities and accounting fraud scheme that cost shareholders $245 million.
The less-than-truckload industry continues to expand its footprint. Saia Inc. has added terminal capacity again, this time transitioning into a new 200-door terminal in Memphis, Tennessee.
Forward Air adds traditional LTL service to more of its facilities as carriers put more assets to work in the space.
In today’s edition of The Daily Dash, Roadrunner Transportation exits the truckload business; a road for autonomous vehicles only; and NFI makes a large acquisition.
In today’s edition of The Daily Dash, Roadrunner continues its revamp with the spinoff of its Ascent Global Logistics business. Plus, Hurricane Hanna leaves its mark on Texas, and e-commerce robots arrive.
Roadrunner Transportation Systems to spin off global logistics segment, emerging debt-free in the process.
After delisting from the NYSE, Roadrunner Transportation Systems announces it will add three new less-than-truckload facilities this summer. The expansion is part of its re-organization focused on asset-light offerings.
Roadrunner Transportation Systems announces the sale of another business unit, this time unloading Stagecoach Cartage and Distribution.
Roadrunner seeks voluntary delisting from the NYSE as it continues its reorganization and focuses on asset-light offerings.
Keeping track of all the outstanding content published on Freighwaves.com each week can prove daunting, and we do not want you to miss a beat. Every FreightWaves article is designed to assist our readers in becoming the most informed professionals in the transportation and logistics industry. To make this task easier, we present an exclusive […]
Roadrunner Transportation will be able to take a significant step in improving its balance sheet following its agreement to sell its Prime Distribution Services business to C.H. Robinson Worldwide (NASDAQ: CHRW). The sale of Prime Distribution, which is part of Roadrunner’s Ascent division, will be for $225 million in cash. At the end of the […]
Universal Logistics Holdings names current head of transportation Tim Phillips as its new CEO. Phillips succeeds former CEO Jeff Rogers who “separated” from the company on Friday.
President and chief operating officer, Michael Gettle, who assisted in the corporate restructuring is leaving the company.
Roadrunner Transportation continues to overhaul its portfolio with the sale of its flatbed unit.
Roadrunner’s third quarter earnings report resembled a triage list indicating that the company’s restructuring path will be a bumpy one.
Roadrunner continues to restructure its operations by shuttering another unit. The company announced that it was selling its intermodal operations to Universal Logistics.
Roadrunner Transportation Systems announced that it has found a replacement for its chief financial officer role as the restructuring continues.
Arkansas-based PKE Western Truck Leasing, Inc. filed a $37 million lawsuit against Rich Transport, LLC and its parent company, RoadRunner Transportation Systems (NYSE: RRTS), alleging breach of contract.
Roadrunner Transportation Systems reports another large operating loss and announces that it will narrow its focus to its logistics and asset-light LTL segments.
It’s been a difficult road for Roadrunner to say the least. The company announces CFO departure.
Roadrunner Transportation Systems, Inc. (NYSE: RRTS) reported a loss of $1.78 per share compared with the break-even consensus estimate. The asset-right and asset-light logistics service provider’s reported revenue of $507.1 million in the first quarter of 2019 was down 11 percent year-over-year. Its operating loss was $20.8 million compared to a $13.4 million operating loss […]
Peter Armbruster was not in the original indictment from last year but now joins two other execs facing criminal charges and from the SEC as well.
Roadrunner Freight has introduced a smartphone app that leverages technology to increase transparency and reduce downtimes for independent contractors.
Revenues are falling at Roadrunner Transportation Systems, but management remains confident the company is heading in the right direction.
LTL shippers account for around 13.6% of America’s trucking sector, shipping almost $48B each day or about 63 tons of goods per person per year. 48% of consumers are demanding next day delivery according to retailers.
With the completion of the rights offering, the beleaguered carrier has a completely new capital structure.
Analyst Bruce Chan at Stifel praises the reorganization at the company that suffered an accounting scandal and sees the base being laid for future growth.
The formula for the rights offeirng could leave Elliott in control of more than 95% of the company’s outstanding common stock.
Its financial metrics were not strong, but management sees recapitalization as key to its future.
Intermodal services firm to boost presence in consumer goods sector with acquisition of LTL consolidator and brokerage.
Some of the stocks that were getting hammered at midday recovered on the back of the broader market rebound by the close. One exception: Ryder.
There’s no particular pattern in seeing which stocks have declined significantly more than the drop in the overall S&P 500 index.
Shareholders in Roadrunner would have the right to buy more shares, and if they don’t, the company’s preferred shareholder would step in.
HCI Equity Partners says in amended filing it may enter transaction to help Roadrunner’s balance sheet.
In today’s pickup: is there too much focus on OR? Also, Old Dominion had a solid July, and there’s a proposal for a new interstate highway.
Overall revenue at Roadrunner is up, but it remains burdened by high interest charges necessary to have given the company a strong capital base.
The company will look at its capital structure, may raise more funding, and has a strong forecast to 2020.
In the one question from the earnings call, an analyst asked Roadrunner executives about the goodwill-heavy balance sheet.
Roadrunner Transportation Systems (NYSE: RRTS) released its delayed 2017 10-K report this week.
Two former Roadrunner Transportation Systems executives were charged with multiple crimes related to accounting and securities fraud in a federal indictment unsealed Friday.
Roadrunner Transportation Systems announced today that it has joined BiTA, a group dedicated to implementing standards for the digitalization of the supply chain.
New management addresses analysts with a pile of back earnings.
Some early adopters of the Tesla Semi are receiving another advantage – help with designing and building electric charging stations for the trucks.
Roadrunner Transportation Systems has officially announced the sale of its subsidiary Unitrans Inc., Business Wire reports. Unitrans, a Los Angeles-based cold chain logistics business, is being sold to New York-based full-service priority transportation and logistics company, Quick International Courier for $95 million.
Four of the defendants in the Pilot Flying J federal fraud trial have reached plea deals with prosecutors, according to documents filed Monday in the U.S. District Court for the Eastern District of Tennessee.
