Echo Global Logistics (ECHO) Tops Q4 EPS by 13c, Revenues Beat

Echo Global Logistics (NASDAQ: ECHO) reported Q4 EPS of $0.56, $0.13 better than the analyst estimate of $0.43. Revenue for the quarter came in at $754.3 million versus the consensus estimate of $703.49 million.

"I'm incredibly proud of the results we posted in 2020. From quickly adjusting to working remotely in the first part of the year to then executing in an extremely competitive freight market with constrained capacity, Echo demonstrated why it is one of the top players in the industry," said Doug Waggoner, Chairman of the Board of Directors and Chief Executive Officer at Echo. "As we enter 2021 against the backdrop of continued strong demand and limited supply, we look to continue to invest in the technology and people that were the foundation for our success in 2020."

Fourth Quarter 2020 Highlights

• Revenue increased 41.9% to $754.3 million from the fourth quarter of 2019
• Gross profit increased 29.8% to $110.4 million from the fourth quarter of 2019
• Adjusted gross profit(1) (formerly "net revenue") increased 28.0% to $114.8 million from the fourth quarter of 2019
• Truckload ("TL") revenue increased 56.0% to $549.4 million from the fourth quarter of 2019, and TL volume increased 19.6% from the fourth quarter of 2019
• Less than truckload ("LTL") revenue increased 16.0% to $184.4 million from the fourth quarter of 2019, and LTL volume increased 12.8% from the fourth quarter of 2019
• Transactional revenue increased 40.5% to $577.7 million and Managed Transportation revenue increased 46.6% to $176.6 million from the fourth quarter of 2019
• Net income increased by 664.2% to $11.0 million, compared to $1.4 million in the fourth quarter of 2019
• Fully diluted EPS increased to $0.41 in the fourth quarter of 2020; non-GAAP fully diluted EPS(2) increased to $0.56 in the fourth quarter of 2020
• Adjusted EBITDA(2) increased by 55.5 % to $27.3 million, compared to $17.5 million in the fourth quarter of 2019

For earnings history and earnings-related data on Echo Global Logistics (ECHO) click here.

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