Roadrunner Transportation earned its name last year as the fastest growing company among the top 25 less-than-truckload carriers ranked by revenue.
The Cudahy, Wis.-based trucker increased its LTL revenue 29.7 percent in 2010, according to a report prepared for The Journal of Commerce by SJ Consulting Group.
That report showed the 25 largest LTL carriers ranked by revenue grew on average 9.4 percent in 2010, slightly higher than the industry average of 9.1 percent.
Four companies expanded their top line more than 20 percent last year, while 13 carriers increased revenue from 10 to 20 percent. Only six of the top 25 carriers experienced single-digit growth in 2010, ranging from 1.9 to 7.8 percent.
Roadrunner was trailed by Oak Harbor Freight Lines, which boosted revenue 24.5 percent, FedEx Freight, 22.2 percent, and Dayton Freight Lines, 20.1 percent.
The nine LTL carriers with more than a billion dollars in sales expanded revenue by an average of 16 percent last year, after a 29.3 percent drop in 2009.
New business from acquisitions and market share gains helped LTL and truckload carrier Roadrunner recover from a 13.9 percent drop in LTL revenue in 2009.
The company's LTL revenue overshot its 2008 level by $43 million or 11.7 percent, more than recovering its decline during the recession, SJ Consulting said.
That pushed Roadrunner two rungs higher on The Journal of Commerce list of top 25 LTL carriers list to rank as the 14th-largest U.S. LTL trucking operator.
Roadrunner reported $632 million in total revenue for 2010 - a 30.8 percent increase over 2009 - as well as a $2.8 million profit for the full year.
Roadrunner also became the 10th publicly owned LTL carrier among the top 25 last year when it completed a $148 million initial stock offering in May.
The complete report on the top 25 LTL carriers will be published in the March 28 issue of The Journal of Commerce and will be available to JOC members online.
-- Contact William B. Cassidy at email@example.com.