William B. Cassidy, Senior Editor | Feb 09, 2012 10:38AM EST
Roadrunner Transportation Services increased its net profit 77 percent in the fourth quarter to $6.9 million as revenue jumped 43.6 percent to $238 million.
For the full year, Roadrunner’s profit soared more than eight-fold to $25.9 million, compared with $2.8 million in 2010, the year the motor carrier went public.
Roadrunner, one of the fastest-growing U.S. trucking companies, increased revenue 33.5 percent in 2011 to $843.6 million, compared with $632 million in 2010.
The hybrid less-than-truckload and truckload operator’s fast growth and soaring profit got a boost from acquisitions, higher pricing and strong freight demand.
New customers and market expansion in the fourth quarter drove a per-day tonnage increase of 8.5 percent year-over-year, the Cudahy,Wis.-based firm said.
LTL tonnage built up throughout the fourth quarter, rising 7.8 percent year-over-year in October and November and climbing 9.9 percent in December.
LTL revenue per hundredweight, a measure of pricing, increased 7.9 percent from the prior year in the fourth quarter, rising 2.7percent excluding fuel surcharges.
Including fuel surcharges, LTL revenue increased 12.8 percent in the fourth quarter to $118.5 million. Truckload sales soared 125.2 percent to $98.7 million.
Truckload revenue accelerated thanks to the Roadrunner’s brokerage network and the acquisition of Morgan Southern, Bruenger Trucking and Prime Logistics.
The company’s non-asset transportation management solutions business increased fourth quarter revenue 24.3 percent to $22 million as itgained new customers.
Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter at @wbcassidy_joc
