Cudahy-based asset-light transportation and logistics service provider Roadrunner Transportation Systems Inc. reported second quarter net income of $16.5 million, or 42 cents per share, up from $14.8 million, or 38 cents per share, in the second quarter of 2014.
Operating income was $31.2 million, up from $27 million in the same period a year ago.
Quarterly revenue totaled $518 million, up about 12.5 percent from $460.2 million in the second quarter of 2014.
During the quarter, Roadrunner eliminated the chief operating officer position, which resulted in one-time executive severance expenses of $1.2 million.
Roadrunner also announced this week it acquired El Paso, Texas-based truckload and logistics company Stagecoach Cartage and Distribution for about $35 million.
It is one of many recent acquisitions for the company. Since 2005, Roadrunner has made 34 acquisitions. During that time, president and chief executive officer Mark DiBlasi has grown its revenue from about $150 million to almost $1.9 billion, both through acquisitions and through organic growth. Through June, the company had 4,171 employees.
“We have successfully built a broad business model designed to cross-utilize resources and cross-sell services across a very diverse transportation customer base,” DiBlasi said. “We expect to add scale and density as evidenced with our most recent acquisition through continued organic growth and acquisitions, as we move forward, which will continue to improve margins over time and improve our operating ratios.”
The company has several other potential acquisitions in the pipeline, he said.
“We believe we have the proper mix of transportation services in our current platform that allow for proper – cross-utilization of assets and cross-selling of those services. And we are currently focused on small- to mid-sized complimentary tuck-in acquisitions that will add scale and density and are easily integratable,” DiBlasi said.
