Echo Global Logistics: 2Q Earnings Snapshot
CHICAGO (AP) _ Echo Global Logistics Inc. (ECHO) on Wednesday reported second-quarter net income of $5.1 million.
On a per-share basis, the Chicago-based company said it had profit of 19 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 42 cents per share.
The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 42 cents per share.
The provider of supply-chain management services posted revenue of $553.8 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $575.9 million.
For the current quarter ending in October, Echo Global Logistics said it expects revenue in the range of $530 million to $570 million.
The company expects full-year revenue in the range of $2.1 billion to $2.25 billion.
Echo Global Logistics shares have declined 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.92, a fall of 35% in the last 12 months.