Roadrunner Transportation Systems reported net income available to common stockholders in the first quarter of 2013 was $10.6 million, increasing 33.4 percent from $7.9 million in the first quarter of 2012.
Meanwhile, operating income for Roadrunner, No. 15 on JOC’s list of the Top 25 Less-Than-Truckload Carriers, was a record $19.1 million, rising 30.7 percent from $14.6 million in the same quarter last year. Quarterly revenue was an all-time high of $299.4 million, compared with $236.6 million in the same quarter last year.
Quarterly truckload revenue rose 49.5 percent year-over-year to $146.5 million, driven by increases in market pricing and load growth; increased use of Roadrunner’s truckload brokerage agent network; and the acquisitions of D&E Transport, CTW Transport, R&M/Sortino, Central Cal, A&A and DCT, which collectively contributed $42.4 million in revenue, the asset-light transportation and logistics service provider said in a written statement.
Additionally, the less-than-truckload segment’s first quarter revenue, including fuel, improved 11.5 percent from $119.0 million in 2012 to $132.7 million in 2013, and the transportation management solutions division’s revenue rose 3.7 percent year-over-year to $21.4 million, from $20.7 million.
“We achieved record revenues and operating income in the first quarter of 2013,” said Mark DiBlasi, president and CEO of Roadrunner. “These records were achieved in the lowest seasonal quarter of the year and in a quarter with fewer business days than normal.”
“Our operating ratio improved 20 basis points to 93.6 percent, compared to 93.8 percent in the first quarter of 2012, despite additional costs incurred for service initiatives implemented in our LTL segment due to adverse weather conditions,” DiBlasi added.
“We anticipate our revenues for the second quarter to be in the range of $315 million to $340 million, representing an increase of 20 percent to 30 percent from the second quarter of 2012,” said Peter Armbruster, CFO of Roadrunner.
Roadrunner yesterday announced two more acquisitions: Adrian Carriers and Wando Trucking.