Echo Global Logistics: 3Q Earnings Snapshot
CHICAGO (AP) _ Echo Global Logistics Inc. (ECHO) on Wednesday reported third-quarter profit of $4.8 million.
The Chicago-based company said it had profit of 18 cents per share. Earnings, adjusted for one-time gains and costs, were 39 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The provider of supply-chain management services posted revenue of $561.4 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $548.2 million.
For the current quarter ending in December, Echo Global Logistics said it expects revenue in the range of $500 million to $540 million.
The company expects full-year revenue in the range of $2.15 billion to $2.19 billion.
Echo Global Logistics shares have climbed 15% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.44, a decrease of slightly more than 8% in the last 12 months.