Transportation and logistics services company Roadrunner Transportation Systems, Inc. (NYSE: RRTS) has announced third quarter revenues were USD 536.6 million, compared to USD 521.4 million in the third quarter 2017, the company said.
Operating loss in the third quarter of 2018 was USD 10.8 million, which included corporate restructuring and restatement costs of USD 4.7 million. Operating income in the third quarter of 2017 was USD 11.3 million, which included:
-A gain on the sale of Unitrans of USD 35.4 million
-Corporate restructuring and restatement costs of USD 6.8 million
-Non-cash impairment charges of USD 4.4 million related to the revaluation of the Ascent segment goodwill after the sale of Unitrans
-Unitrans operating income of USD 1.3 million
Net loss increased to USD 41.6 million in the third quarter of 2018 compared to USD 10.1 million in the third quarter of 2017.
Diluted loss per share available to common stockholders was USD 1.08 for the third quarter of 2018, compared to diluted loss per share of USD 0.26 for the third quarter of 2017.
Roadrunner Transportation Systems, Inc.
Roadrunner Transportation Systems is a leading asset-right transportation and asset-light logistics service provider offering a full suite of solutions under the Roadrunner, Active On-Demand and Ascent Global Logistics brands. The Roadrunner brand offers less-than-truckload, temperature controlled and intermodal services. Active On-Demand offers premium mission critical air and ground transportation solutions. Ascent Global Logistics offers domestic freight management, retail consolidation, international freight forwarding and customs brokerage.