Tag Archives: Roadrunner

Roadrunner Refocuses Service Levels, Adds New Facilities, Expands Direct Service into Memphis

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2/10/2016
Roadrunner LTL Refocuses Service Levels, Adds New Expanded Facilities in Key Texas Markets, Expands Direct Service into Memphis
Cudahy, WI – Feb. 10, 2016 – Roadrunner Transportation Systems, Inc. (NYSE: RRTS) today announced significant actions within its less-than-truckload freight network.

Committed to providing customers in North America with a reliable, consistent service at an economical price, Roadrunner LTL has refocused its network standards to further enhance the consistency of its service. These refined service levels provide customers with better visibility to delivery dates, enabling them to work with Roadrunner to more effectively plan their supply-chain while economically managing their transportation costs. Included in these enhancements is the introduction of an optional premium service with guaranteed delivery on a scheduled day in select major-metro markets.

Read more at www.rrts.com

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RRTS Reports 2015 Q4, Year-End Results, Announces 2016 Guidance

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Cudahy, WI – Feb. 3, 2016 — Roadrunner Transportation Systems, Inc. (NYSE: RRTS), a leading asset-light transportation and logistics service provider, today reported financial results for the three and twelve months ended December 31, 2015.

Revenues for the quarter ended December 31, 2015 decreased 7.8% to $490.9 million from $532.5 million for the same quarter in 2014. Operating income was $24.3 million, compared to $24.2 million for the prior year quarter. Diluted earnings per share available to common stockholders was $0.32 for the fourth quarters of both 2015 and 2014.

Read more at www.rrts.com

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Roadrunner Announces Conference Call to Discuss 2015 Q4 Results

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Cudahy, WI – Jan. 20, 2016 – Roadrunner Transportation Systems, Inc. (NYSE: RRTS), a leading asset-light transportation and logistics services provider, today announced that it will host a conference call to discuss its financial results for the fourth quarter ended December 31, 2015, on Wednesday, February 3, 2016, at 4:30 p.m. Eastern Time. Roadrunner Transportation Systems will release its 2015 fourth quarter financial results that day immediately after market close.

Read more at www.rrts.com

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Roadrunner Names Curtis Stoelting President and COO

Published by:

1/18/2016
Roadrunner Transportation Systems Names Curtis Stoelting President and Chief Operating Officer

Cudahy, WI – January 18, 2016 – Roadrunner Transportation Systems, Inc. (NYSE: RRTS) today announced the hiring of Curtis Stoelting as President and Chief Operating Officer. Mr. Stoelting was also appointed to Roadrunner’s Board of Directors.

Mr. Stoelting served as the Chief Executive Officer and a director of TOMY International/RC2 Corporation from January 2003 to March 2013. RC2 Corporation (NASDAQ: RCRC) was acquired by TOMY Company, Ltd. in April 2011. He previously served as RC2’s Chief Operating Officer from 2000 to 2003, Executive Vice President from 1998 to 2000 and Chief Financial Officer from 1994 to 1998. Prior to that, Mr. Stoelting was with Arthur Andersen for 12 years.

Read more at www.rrts.com

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Roadrunner Transportation Systems Announces Conference Call to Discuss 2013 Fourth Quarter Results

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CUDAHY, Wis.–(BUSINESS WIRE)–Jan. 17, 2014– Roadrunner Transportation Systems, Inc. (NYSE: RRTS), a leading asset-light transportation and logistics services provider, today announced that it will host a conference call to discuss its financial results for the fourth quarter ended December 31, 2013, on Wednesday, February 5, 2014, at 4:30 p.m. Eastern Time. Roadrunner Transportation Systems will release its 2013 fourth quarter financial results that day immediately after market close.

Conference Call Information

To access the conference call, please dial 877-280-4957 (U.S.) or 857-244-7314 (International) approximately 10 minutes prior to the start of the call. Callers will be prompted for passcode 38041669. The conference call will also be available via live webcast under the Investor Relations section of the Company’s website, www.rrts.com.

If you are unable to listen to the live call, a telephone replay will be available through Wednesday, February 12, 2014, and can be accessed by dialing 888-286-8010 (U.S.) or 617-801-6888 (International). Callers will be prompted for passcode 92333888. An archived version of the webcast will also be available under the Investor Relations section of the Company’s website,www.rrts.com.

About Roadrunner Transportation Systems, Inc.

Roadrunner is a leading asset-light transportation and logistics service provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload logistics, transportation management solutions, intermodal solutions, freight consolidation, inventory management, expedited services, international freight forwarding, customs brokerage, and comprehensive global supply chain solutions. For more information, please visit Roadrunner’s website, www.rrts.com.

Source: Roadrunner Transportation Systems, Inc.

Roadrunner Transportation Systems, Inc.
Peter Armbruster
Chief Financial Officer
414-615-1648
or
Vollrath Associates, Inc.
Marilyn Vollrath
414-221-0210
ir@rrts.com

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Resource: http://www.rdfs.com/Company/Investors/NewsReleases.aspx

Roadrunner Transportation Systems Announces Acquisition of R&M Transportation and Sortino Transportation

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CUDAHY, Wis.–(BUSINESS WIRE)–Aug. 3, 2012–Roadrunner Transportation Systems, Inc.(NYSE: RRTS), announced today that it has acquired substantially all of the operating assets and business of R&M Transportation and all of the outstanding stock of Sortino Transportation, providers of truckload services based inOmaha, Nebraska, for approximately$24.4 million, plus an earn-out capped at$5 million. R&M and Sortino transport primarily refrigerated product throughoutthe United Statesutilizing a combination of independent contractors and a fleet of company-owned trailers. Roadrunner also announced today that it has amended and expanded its credit facility to$295 millionto provide enhanced liquidity and future growth capital. Under the terms of the amended credit facility, Roadrunner modified limits and terms and obtained a reduction in interest rates of approximately 100 basis points.

Mark DiBlasi, President and CEO of Roadrunner, said, “The acquisition of R&M and Sortino expands our refrigerated capacity in key lanes and broadens our customer base. In addition, R&M and Sortino’s Midwest presence enables us to more effectively cross-sell our truckload services because of their superior service and solid, long-term customer relationships. R&M and Sortino’s principal former owners and experienced management team will remain in place and are excited about the growth opportunities we collectively envision.”

“R&M’s and Sortino’s independent contractor business model and trailer capacity are an excellent complement to our existing Truckload & Logistics platform and will provide immediate growth opportunities in our refrigerated offering,” saidBrian van Helden, President of Roadrunner’s Truckload & Logistics business segment.

In 2011, R&M and Sortino together generated revenues of approximately$64.5 million. R&M and Sortino are expected to be accretive to Roadrunner’s earnings in 2012.

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About Roadrunner Transportation Systems, Inc.

Roadrunner Transportation Systemsis a leading asset-light transportation and logistics service provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload and logistics, transportation management solutions, intermodal solutions, and domestic and international air. For more information, please visit Roadrunner’s website, www.rrts.com.

Safe Harbor Statement

This release contains forward-looking statements that relate to future events or performance. These statements reflect our current expectations, and we do not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other company statements will not be realized. Furthermore, readers are cautioned that these statements involve risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the integration of acquired companies, competition in the transportation industry, the impact of the current economic environment, our dependence upon purchased power, the unpredictability of and potential fluctuation in the price and availability of fuel, the effects of governmental and environmental regulations, insurance in excess of prior experience levels, and other “Risk Factors” set forth in our most recentSECfilings.

Source:Roadrunner Transportation Systems, Inc.

 

Roadrunner Transportation Systems Reports 2012 Second Quarter Results and Announces Third Quarter 2012 Guidance

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CUDAHY, Wis.–(BUSINESS WIRE)–Aug. 1, 2012–Roadrunner Transportation Systems, Inc.(NYSE: RRTS), a leading asset-light transportation and logistics service provider, today reported financial results for the three and six months endedJune 30, 2012.

Roadrunner’s summary financial results for the three and six months endedJune 30are highlighted below. Second quarter diluted income per share available to common stockholders increased 33.3% over the prior year to$0.32.

Three Months Ended Six Months Ended
(In thousands, except per share data) June 30, June 30,
2012 2011 2012 2011
Total revenues $ 262,546 $ 208,271 $ 499,119 $ 379,429
Net revenues (total revenues less
purchased transportation costs) $ 76,671 $ 51,873 $ 146,214 $ 92,664
Depreciation and amortization 2,125 1,053 4,085 1,882
Other operating expenses 55,903 38,227 108,708 70,396
Acquisition transaction expenses 70 106 208 320
Operating income $ 18,573 $ 12,487 $ 33,213 $ 20,066
Net income available to common
stockholders $ 10,200 $ 7,431 $ 18,131 $ 11,831
Weighted average diluted shares
outstanding 32,186 31,522 32,182 31,457
Diluted income per share available
to common stockholders $ 0.32 $ 0.24 $ 0.56 $ 0.38

2012 Second Quarter Results

In discussing the company’s second quarter performance,Mark DiBlasi, President and CEO of Roadrunner, said,

“Strong performance across all of our business segments generated second quarter revenue growth of 26.1% and net revenue growth of 47.8%. Due to sales and operational initiatives, our operating income growth of 48.7% outpaced revenue. Operating income for the second quarter of 2012 represented the best quarter in the history of the company. Our operating ratio improved 110 basis points to 92.9% from 94.0% in the second quarter of 2011 and 90 basis points sequentially from the first quarter of 2012.

“Our LTL operating ratio improved to 91.9% in the second quarter from 93.7% in the second quarter of 2011. Our initiatives to expand into new geographic regions, build density, improve pricing and enhance productivity resulted in a net revenue margin improvement from 24.2% in the second quarter of 2011 to 25.8% in the second quarter of 2012.

“TL revenues grew by$42.3 million, or 61.6%, from the prior year. Incremental revenues from our 2011 and 2012 acquisitions accounted for$36.7 millionof the increase, with the balance of$5.6 millionrepresenting organic growth of 8.1%. Organic growth was reduced by the impact of last season’s crop failures in the Northeast and softening in the intermodal market. The positive impact of the acquisitions and operating leverage associated with our revenue growth led to a 61.1% increase in our TL operating income. Our TL operating ratio of 93.9% was relatively flat compared to last year and was impacted by the softer intermodal market, added infrastructure costs associated with our growth, expansion costs in our freight consolidation business and excess insurance costs.

“TMS revenue grew$4.1 million, or 21.8%, from the prior year. Organic growth and pricing accounted for$2.4 millionof the increase, with the balance related to our lateFebruary 2012acquisition of Capital Transportation Logistics. The operating leverage associated with this growth led to a 60.8% increase in TMS operating income. Our TMS operating ratio improved to 88.0% from 90.9% in the second quarter of 2011.”

2012 Third Quarter Guidance

In commenting on guidance for the third quarter of 2012,Peter Armbruster, CFO of Roadrunner, said, “We anticipate our revenues for the third quarter to be in the range of$265 million to $280 million, representing an increase of 17% to 24% from the third quarter of 2011. Further, we expect diluted income per share available to common stockholders to be between$0.31 and $0.34, compared to diluted income per share available to common stockholders of$0.23in the prior year quarter.”

2012 Second Quarter Segment Information

Roadrunner has three operating segments: less-than-truckload (LTL), truckload and logistics (TL) and transportation management solutions (TMS). The following highlights exclude intercompany eliminations and corporate expenses.

LTL revenues, including fuel, increased 6.9% to$129.7 millionfor the second quarter of 2012 from$121.4 millionfor the second quarter of 2011. LTL net revenues for the second quarter of 2012 were$33.4 million, or 25.8% of LTL revenues, compared to$29.4 million, or 24.2% of LTL revenues, for the second quarter of 2011. LTL operating income was$10.5 million, or 8.1% of LTL revenues, for the second quarter of 2012 compared to$7.7 million, or 6.3% of LTL revenues, for the second quarter of 2011.

Summary LTL operating statistics for the three and six months endedJune 30are shown below.

Three Months Ended June 30, Six Months Ended June 30,
% %
2012 2011 Change 2012 2011 Change
Operating ratio 91.9 % 93.7 % 92.4 % 94.4 %
Tonnage (in thousands of tons) 338.2 327.6 3.3 % 654.3 612.4 6.9 %
Shipments (in thousands) 515.6 490.2 5.2 % 1,002.5 922.0 8.7 %
Revenue per hundredweight (incl. fuel) $ 18.91 $ 18.18 4.0 % $ 18.87 $ 17.96 5.1 %
Revenue per hundredweight (excl. fuel) $ 15.44 $ 14.79 4.4 % $ 15.40 $ 14.79 4.1 %
Weight per shipment (lbs.) 1,312 1,337 (1.9 %) 1,305 1,328 (1.7 %)
Linehaul cost per mile (excl. fuel) $ 1.24 $ 1.24 0.0 % $ 1.24 $ 1.23 0.8 %

Note: Other than operating ratio, the statistics above do not include (i) adjustments for undelivered freight required for financial statement purposes in accordance with Roadrunner’s revenue recognition policy; and (ii) non-LTL related business captured within the LTL segment.

TL segment revenues increased 61.6% to$111.0 millionfor the second quarter of 2012 from$68.7 millionfor the second quarter of 2011. The improvement was primarily due to increases in market pricing and load growth, the expansion of Roadrunner’s TL brokerage agent network, and the acquisitions ofBruenger Trucking, Prime Logistics, D&E Transport and CTW Transport. For the second quarter,Bruenger Trucking, Prime Logistics, D&E Transport and CTW Transport collectively contributed incremental revenues of$36.7 millionto the TL segment. Overall, TL net revenues for the second quarter of 2012 were$36.5 million, or 32.9% of TL revenues, compared to$17.6 million, or 25.5% of TL revenues, for the second quarter of 2011. TL operating income was$6.8 million, or 6.1% of TL revenues, for the second quarter of 2012 compared to$4.2 million, or 6.2% of TL revenues, for the second quarter of 2011.

TMS segment revenues for the second quarter of 2012 increased 21.8% to$23.1 millionfrom$19.0 millionfor the second quarter of 2011. TMS net revenues for the second quarter of 2012 were$6.7 million, or 29.1% of TMS revenues, compared to$4.9 million, or 25.8% of TMS revenues, for the second quarter of 2011. TMS revenue growth during the quarter was primarily attributable to new and existing customer growth and the acquisition of Capital Transportation Logistics. For the second quarter, Capital Transportation Logistics contributed revenue of$1.7 millionto the TMS segment. TMS operating income was$2.8 million, or 12.0% of TMS revenues, for the second quarter of 2012, compared to$1.7 million, or 9.1% of TMS revenues, for the second quarter of 2011.

Conference Call

A conference call is scheduled for Wednesday, August 1, 2012at 4:30 p.m. Eastern Time. To access the conference call, please dial 866-713-8307 (U.S.) or 617-597-5307 (International) approximately 10 minutes prior to the start of the call. Callers will be prompted for passcode 61848468. The conference call will also be available via live webcast under the Investor Relations section of Roadrunner’s website, www.rrts.com.

If you are unable to listen to the live call, a replay will be available through August 8, 2012, and can be accessed by dialing 888-286-8010 (U.S.) or 617-801-6888 (International). Callers will be prompted for passcode 96276107. An archived version of the webcast will also be available under the Investor Relations section of Roadrunner’s website, www.rrts.com.

If you want to get  roadrunner tracking service, please go to Express Tracking.

About Roadrunner Transportation Systems, Inc.

Roadrunner is a leading asset-light transportation and logistics service provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload and logistics, transportation management solutions, intermodal solutions, and domestic and international air. For more information, please visit RRTS’ website, www.rrts.com.

Safe Harbor Statement

This release contains forward-looking statements that relate to future events or performance. These statements reflect Roadrunner’s current expectations, and Roadrunner does not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other company statements will not be realized. Furthermore, readers are cautioned that these statements involve risks and uncertainties, many of which are beyond Roadrunner’s control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the integration of acquired companies, competition in the transportation industry, the impact of the current economic environment, Roadrunner’s dependence upon purchased power, the unpredictability of and potential fluctuation in the price and availability of fuel, the effects of governmental and environmental regulations, insurance in excess of prior experience levels, and other “Risk Factors” set forth in Roadrunner’s most recentSECfilings.

(Tables Follow)

ROADRUNNER TRANSPORTATION SYSTEMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share amounts)
Three Months Ended Six Months Ended
June 30, June 30,
2012 2011 2012 2011
Revenues $ 262,546 $ 208,271 $ 499,119 $ 379,429
Operating expenses:
Purchased transportation costs 185,875 156,398 352,905 286,765
Personnel and related benefits 28,963 20,323 55,696 38,058
Other operating expenses 26,940 17,904 53,012 32,338
Depreciation and amortization 2,125 1,053 4,085 1,882
Acquisition transaction expenses 70 106 208 320
Total operating expenses 243,973 195,784 465,906 359,363
Operating income 18,573 12,487 33,213 20,066
Interest expense:
Interest on long-term debt 2,071 451 3,869 884
Dividends on preferred stock subject to mandatory redemption 50 49 100
Total interest expense 2,071 501 3,918 984
Income before provision for income taxes 16,502 11,986 29,295 19,082
Provision for income taxes 6,302 4,555 11,164 7,251
Net income available to common stockholders $ 10,200 $ 7,431 $ 18,131 $ 11,831
Earnings per share available to common stockholders:
Basic $ 0.33 $ 0.25 $ 0.59 $ 0.39
Diluted $ 0.32 $ 0.24 $ 0.56 $ 0.38
Weighted average common stock outstanding:
Basic 30,821 30,285 30,782 30,227
Diluted 32,186 31,522 32,182 31,457
ROADRUNNER TRANSPORTATION SYSTEMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands, except share amounts)
June 30, December 31,
2012 2011
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 1,780 $ 3,315
Accounts receivable, net of allowances of $1,386 and $1,461 119,777 102,358
Deferred income taxes 9,472 9,472
Prepaid expenses and other current assets 19,168 16,400
Total current assets 150,197 131,545
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $16,263 and $13,303 36,575 28,447
OTHER ASSETS:
Goodwill 383,594 364,347
Intangible assets, net 10,777 10,381
Other noncurrent assets 11,337 8,633
Total other assets 405,708 383,361
TOTAL ASSETS $ 592,480 $ 543,353
LIABILITIES AND STOCKHOLDERS’ INVESTMENT
CURRENT LIABILITIES:
Current maturities of long-term debt $ 14,000 $ 14,000
Accounts payable 54,060 50,245
Accrued expenses and other liabilities 29,468 19,480
Preferred stock subject to mandatory redemption 5,000
Total current liabilities 97,528 88,725
LONG-TERM DEBT, net of current maturities 140,440 122,500
OTHER LONG-TERM LIABILITIES 38,988 36,175
Total liabilities 276,956 247,400
STOCKHOLDERS’ INVESTMENT:
Common stock $.01 par value; 100,000 shares authorized;
30,824 and 30,707 shares issued and outstanding 308 307
Additional paid-in capital 267,914 266,475
Retained earnings 47,302 29,171
Total stockholders’ investment 315,524 295,953
TOTAL LIABILITIES AND STOCKHOLDERS’ INVESTMENT $ 592,480 $ 543,353

 

Source:Roadrunner Transportation Systems, Inc.

Roadrunner Transportation Systems, Inc.
Peter Armbruster, 414-615-1648
Chief Financial Officer
or
Vollrath Associates, Inc.
Marilyn Vollrath, 414-221-0210
ir@rrts.com