Roadrunner Transportation Systems reported its net income available to common stockholders in the second quarter of 2013 was $14.0 million, jumping 37.0 percent from $10.2 million in the second quarter of 2012.
Quarterly revenue for Roadrunner, No. 15 on JOC’s list of the Top 25 Less-Than-Truckload Carriers, was $331.9 million, versus $262.6 million in the same quarter last year. Revenue from its less-than-truckload division was $146.5 million, up 13 percent year-over-year, and revenue from the truckload segment was $161.2 million, spiking 45 percent. Additionally, revenue from the transportation management solutions branch totaled $27.0 million in the second quarter, increasing 16.6 percent year-over-year.
“Our LTL operating ratio remained the same quarter-to-quarter and improved sequentially to 91.9 percent in the second quarter of 2013 from 93.2 percent in the first quarter of 2013,” said Mark DiBlasi, president and CEO of Roadrunner, in a written statement. He noted that the company continued its LTL initiatives to expand into new geographic regions, build density, improve pricing and enhance productivity.
“Our continued performance initiatives led to our TL operating ratio improving to 93.0 percent in the second quarter of 2013 from 93.9 percent in the second quarter of 2012,” he continued. He said that $43.3 million of the $50.2 million increase in truckload revenue resulted from 2012 and 2013 acquisitions.
“TMS revenue grew $3.8 million, or 16.6 percent, in the second quarter of 2013 from the prior year quarter, primarily due to our 2013 acquisition of Adrian Carriers,” DiBlasi added.
In the first six months of 2013, Roadrunner reported its net income available to common stockholders totaled $45.5 million, up from $33.2 million in the same period in the previous year, and revenue was $631.3 million, rising from $499.1 million.
“We anticipate our revenues for the third quarter to be in the range of $355 million to $380 million, representing an increase of 27 percent to 36 percent from the third quarter of 2012,” concluded Peter Armbruster, CFO of Roadrunner.