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Roadrunner Transportation Systems Reports 2012 Fourth Quarter And Year-End Results And Announces First Quarter 2013 Guidance

Stocks in this article: RRTS

“TMS revenue grew $1.8 million, or 8.3%, in the fourth quarter of 2012 from the prior year quarter. Organic growth, pricing and our late February 2012 acquisition of Capital Transportation Logistics accounted for the 8.3% increase. The operating leverage associated with this growth led to a 29.6% increase in TMS operating income quarter-over-quarter. Our TMS operating ratio improved to 88.2% compared to 90.1% in the fourth quarter of 2011.

"Overall, we are extremely pleased with our 2012 performance. In 2012, total company revenue increased 27.2% to $1,073.4 million from $843.6 million in 2011. This revenue growth was a combination of both organic- and acquisition-related growth. Our total company operating income increased 49.5% to $69.0 million in 2012 from $46.1 million in 2011. Our total company operating ratio improved to 93.6% in 2012 from 94.5% in 2011. Finally, our diluted income per share available to common stockholders increased 41.5% to $1.16 in 2012 from $0.82 in 2011."

2013 First Quarter Guidance

In commenting on guidance for the first quarter of 2013, Peter Armbruster, CFO of Roadrunner, said, “We anticipate our revenues for the first quarter to be in the range of $285 million to $310 million, representing an increase of 20% to 31% from the first quarter of 2012. Further, we expect diluted income per share available to common stockholders to be between $0.27 and $0.29, compared to diluted income per share available to common stockholders of $0.25 in the prior year quarter. The impact on diluted income per share from our December 2012 stock offering of 3,925,000 shares will be approximately $0.03 between years. On an adjusted basis, our diluted income per share guidance of $0.27 to $0.29 represents an increase of 23% to 32% from the first quarter of 2012 diluted income per share of $0.22.

2012 Fourth Quarter Segment Information

Roadrunner has three operating segments: less-than-truckload (LTL), truckload and logistics (TL) and transportation management solutions (TMS). The following highlights exclude intercompany eliminations and corporate expenses.

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