A good Echo from the market
Chicago-based and Nasdaq-listed Echo Global Logistics has reported its financial results for Q3/2021. In September, Echo entered into a definitive merger agreement to be acquired by funds managed by The Jordan Company, a global private equity firm.
Revenues in Q3/2021 amounted to USD 986 million, a leap forward of 42.5% compared to the same period last year. Ebitda surged even further by 76.5% to USD 35 million compared to Q3/2020. Net income increased to USD 19 million, compared to USD 6.8 million.
In Echo’s FTL segment, revenues were at USD 738 million, more than doubling last year's result, while volumes went up by 15%. In Echo’s LTL business, revenues grew to USD 220 million, a growth of 25.3%, while volumes increased to 3.1%. (sh)