Lackluster Brokerage Market Conditions Pressure Echo's 2Q Results
Narrow moat-rated Echo Global Logistics’ second-quarter gross revenue grew 19% from the same period last year, mostly because of the second-quarter 2015 Command acquisition. Otherwise, organic volume growth in the core truck brokerage operations was more than offset by lower average revenue-per-load, including the impact of lower fuel surcharges. Total net revenue increased 22%, with additional help from higher gross profit margins.ÂGross revenue came in below our expected run rate, largely due...
Echo Global Logistics is a provider of technology-enabled transportation and supply chain management solutions. The company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers. The company focuses on arranging transportation with truckload and less than truckload carriers. The company also provides intermodal, small parcel, domestic air, expedited and international transportation services. The company's logistics services include carrier selection, dispatch, load management and tracking. The company procures transportation and provides logistics services for clients across manufacturing, construction, food and beverage, consumer products and retail industries.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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