Echo Global Logistics Earnings: Here’s Why Investors are Not Happy Now
Echo Global Logistics, Inc. (NASDAQ:ECHO) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 8.28%.
Echo Global Logistics, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 7.14% to $0.15 in the quarter versus EPS of $0.14 in the year-earlier quarter.
Revenue: Rose 21.02% to $204 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Echo Global Logistics, Inc. reported adjusted EPS income of $0.15 per share. By that measure, the company missed the mean analyst estimate of $0.16. It missed the average revenue estimate of $212.82 million.
Quoting Management: “Echo posted double digit year over year increases in revenue and non-GAAP net income for the quarter,” commented Doug Waggoner, Chief Executive Officer of Echo. Waggoner added, “Our consistent growth indicates that the investments we are making are driving our success in the marketplace.”
Key Stats (on next page)…