Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation and supply chain management services, announced today that it will release first quarter 2020 earnings results after the market close on Wednesday, April 22, 2020.

Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation management services, today reported financial results for the quarter and full year ended December 31, 2019.

Two more significant companies in the trucking and transportation field have implemented layoffs and furloughs.In response to an email query from FreightWaves, Doug Waggoner, the CEO of Echo Global Logistics, Inc. (NASDAQ: ECHO), said the third-party logistics provider (3PL) had a "small reduction" in staff this week that constitutes less than 5% of the company's workforce. In Echo's 10-K filing with the Securities and Exchange Commission for 2019, it listed 2,539 employees, up from 2,335 in 2015. "A large portion of these were furloughs and will come back as business conditions dictate," Waggoner wrote. Of those who were not furloughed but dismissed from the company, they were provided with severance, according to Waggoner. Although Echo is based in Chicago, Waggoner said the reductions took place at "many" but not all of its offices. The company's 10-k said Echo has approximately 30 locations. The Payroll Protection Plan part of the CARES Act to aid companies during the coronavirus pandemic is not available to a company like Echo because of its large size. The law's limit for a transportation company is 500 staff members or a revenue test that normally comes in around $30 million. Echo had $2.1 billion in revenue last year. Stock in Echo closed Thursday at $18.62/share. It is near its high of the past month, which was $18.94. Its low in the last month was $14.17; its 52-week high is $25.95.At less-than-truckload (LTL) carrier Saia, Inc. (NASDAQ: SAIA), spokeswoman Jeannie Jump told FreightWaves in an email that the company "temporarily re-aligned some sales functions, which included a furloughing of a small number of sales personnel."  Saia has the "intention of bringing them back as business levels warrant." No numbers on the size of the staff impacted was provided.Jump said Saia's outside salesforce is "now working remotely in a virtual sales environment. Our ability to pivot, adapt, and leverage technology has proven effective in this environment," she wrote in her email.Saia's 10-K said it had approximately 10,400 employees. It owns 77 facilities and leases 97 service centers.Saia's stock closed on April 9 at $83.34, just under the one-month high of $83.86. Its low during the one-month period was $61.46. Its 52-week high is $107See more from Benzinga * Few Markets Show Resilience This Week – FreightWaves NOW * FMCSA Waives Procedures For CDL Testing Officials * Rail Analysts Expect A Tough 6 Months(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Echo Global Logistics (ECHO) delivered earnings and revenue surprises of 8.33% and 1.83%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?

Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation management services, today reported financial results for the quarter ended March 31, 2020.

NEW YORK, NY / ACCESSWIRE / April 22, 2020 / Echo Global Logistics, Inc. (NASDAQ:ECHO) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on April 22, 2020 at ...

During earnings season, FreightWaves will be covering many companies across all modes, as well as shippers and retailers. Each week, we will recap the most interesting company earnings and any merger-and-acquisition ...

Echo Global Logistics, Inc. (NASDAQ:ECHO), which is in the logistics business, and is based in United States, received...

Q4 2019 Echo Global Logistics Inc Earnings Call

Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation management services, and TruckPark Inc., America's fastest growing truck parking and travel guidance service, today announced a strategic partnership that offers EchoDrive Preferred members access to TruckPark's extensive network of overnight, commercial truck parking resources at a discounted rate, providing an efficient and cost-effective way for truck drivers to find, reserve, and pay for guaranteed, secure parking in real time.

Today we will run through one way of estimating the intrinsic value of Echo Global Logistics, Inc. (NASDAQ:ECHO) by...

Echo Global Logistics (NASDAQ: ECHO) is upping the value of its EchoDrive Preferred service through a strategic partnership with TruckPark. The program will give Preferred members access to TruckPark's network of overnight commercial truck parking resources at a discounted rate.EchoDrive Preferred is a complement to Echo's proprietary EchoDrive web portal and mobile app that gives carriers real-time access to search, bid, manage, track and get paid on freight hauled for Echo.The partnership will give EchoDrive Preferred members a 50% discount on parking for owner-operators and fleets with one to five trucks, and a 25% discount for company drivers and fleets with six or more trucks."At Echo, we're continuously working to simplify the lives of those in our carrier and driver community, especially during these unprecedented times," said Dave Menzel, president, and chief operating officer at Echo. "As the effects of COVID-19 continue to impact truck drivers across the country, we're proud to partner with TruckPark to help EchoDrive Preferred members save time and money when searching for parking."TruckPark offers safe truck parking for drivers around the country. Drivers (or fleets) can reserve spaces for drivers at its network of commercial lots for a fee. The average cost is typically around $15 per night.TruckPark added thousands of spaces to its network in 2019 through partnerships with several parking lot owners, including a deal with Storemytruck.com that promises to add more than 100 locations over the next two years. "At TruckPark, our company is predicated on providing the best experience for truck drivers, which includes the health and safety of drivers as well as the security of their payloads," Anthony Petitte, TruckPark CEO, said. "Having access to Echo's vast carrier network gives us the ability to greatly enhance the driver experience."Jay Gustafson, senior vice president of marketplace solutions at Echo, said providing access to parking results in more productive drivers."We know finding safe and secure overnight parking can be difficult and time-consuming for many of the drivers in our network," he said. "In fact, a recent survey of Echo drivers showed that on average, they spend about 11 hours a month looking for parking, a substantial amount of time they could instead be using to earn money on the road. By reducing the time it takes for drivers to secure parking, this partnership can truly help EchoDrive Preferred members earn more money over the course of a year."The addition of the TruckPark parking platform is a continuation of value-add services to the EchoDrive platform. Earlier this year, Echo added Preferred Lanes and Suggested Loads to the platform.Preferred Lanes and Suggested Loads are designed to improve the load-booking process by assuring carriers receive loads that fit their needs. Preferred Lanes allows carriers to set up a profile of lanes they run regularly and get notifications when shipments in these lanes are available.Similarly, Suggested Loads improves backhaul opportunities by suggesting shipments to fill empty trailers for Echo customers. Carriers can also choose to get alerts when they do a search for available shipments. Any time freight becomes available that matches that search, they are notified.EchoDrive Preferred members also benefit from enhanced payment terms based on a carrier's relationship with Echo and discounts on truck leases, preventative maintenance programs, and rental equipment, as well as discounts on fuel, maintenance, roadside service and more. Photo provided by FreightWaves. See more from Benzinga * Slowly But Surely, Technology Laggards Are Getting Up To Speed: Echo Global's Waggoner * Wall Street To C.H. Robinson: What Happened To Flexibility? * Echo Grew Q1 Revenue, But Margins Compressed During Coronavirus Surge(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Detailing its financial and operating results for the fourth quarter of 2019 on Wednesday after the close, Echo Global Logistics (NASDAQ: ECHO) reported non-GAAP earnings per share of 26 cents, beating the Street's estimate of 16 cents; Echo's revenue of $531.7 million beat estimates of $522 million. "I'm proud of the results we posted this year in light of the challenging freight market, triggered by excess truckload capacity throughout much of the year," said Doug Waggoner, Echo chairman and CEO, in a statement. After a year of a weak spot market and contract prices de-rating, Echo managed to protect its net revenue margins, which compressed by only 70 basis points year-over-year to 16.9%.

Q1 2020 Echo Global Logistics Inc Earnings Call

Echo Global Logistics (ECHO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Echo Global Logistics (ECHO) delivered earnings and revenue surprises of 0.00% and 0.13%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

An employee at the Chicago headquarters of Echo Global Logistics tested positive for the coronavirus, company officials confirmed to FreightWaves on Wednesday.Company officials said they are working with the Illinois Department of Health to follow appropriate guidelines and procedures."The incident was in our Chicago office, and we are implementing a deep cleaning," said Christopher Clemmensen, senior vice president of marketing at Echo Global Logistics. "We expect that to be completed today and to re-open the office for any employee that prefers to work in our facility."Clemmensen said Echo Global Logistics had already taken "steps to implement our Business Continuity Plan last week.""Our entire workforce has been enabled to work from home. Prior to the identification that someone had tested positive, the vast majority of our workforce was working from home and we are executing at full capacity. We are absolutely open for business and executing for our clients and carriers," Clemmensen said.Echo Global Logistics has more than 30 offices around the country. The company offers freight brokerage and managed transportation solutions for all major modes, including truckload, partial truckload, less-than-truckload, intermodal and expedited. Like Echo Global Logistics, many other freight brokerages and third-party logistics providers are allowing employees the flexibility to work from home during the coronavirus pandemic. Matt Silver, founder and CEO of Chicago-based Forager, said his company "transferred to fully remote work last week.""We're a young, tech-focused company, so a lot of the tools and best practices for working from home were already in place by the time we made the switch," Silver said. "The only real changes we're implementing procedurally are focused on maintaining the company culture. We're a startup, so we're pretty high energy."Silver said to keep employees on the same page, Forager is "doing virtual happy hours and we're taking video fitness classes."He added, "We've set up a Slack channel exclusively for sending pictures of our dogs. We're committed to social distancing, but that doesn't mean we can't be social." Frank McGuigan, CEO of Frisco, Texas-based Transplace, said his company also recently activated its remote business operations plan. Transplace offers a wide range of technology and logistics solutions for its customers."We activated our Transplace remote business operations plan in response to the coronavirus to transition most employees to work from home while maintaining 100% business continuity," McGuigan told FreightWaves. "This doesn't mean the Transplace offices are closed, but that employees are encouraged to work from home if at all possible and without limitation in productivity."McGuigan also said Transplace has implemented "new visitor guidelines, critical business travel restrictions, sanitation protocol, and social distancing procedures to ensure a healthy workplace." "In this transition, we have had no disruption in our day to day operational activities, nor do we expect any disruption. We are well-prepared to provide our customers' ongoing business support and operations," McGuigan said.The National Customs Brokers & Forwarders Association of America Inc. (NCBFAA) also instituted a work-from-home policy for its Washington, D.C. headquarters on Monday, March 16."The health and safety of its employees is a top priority for the association, and we will be monitoring the situation closely to best gauge when employees may return to the office," NCBFAA said in a statement.There are at least 7,111 cases of the novel coronavirus in the U.S. as of Wednesday, according to state and local health agencies and governments and the federal Centers for Disease Control and Prevention.Image by mattthewafflecat from PixabaySee more from Benzinga * Earthquake Shuts Down Transportation In Salt Lake City Area * Shen Takes Reins As Transfix's New CEO; McElroy To Be Chairman * Lipinksi Introduces Bills Addressing Blocked Rail Crossings, Train Noise(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Echo Global Logistics (NASDAQ:ECHO) reported Q1 results.Quarterly Results Earnings per share fell 50% over the past year to $0.19, which missed the estimate of $0.20.Revenue of $551,049,000 up by 2.41% from the same period last year, which beat the estimate of $550,880,000.Looking Ahead Q2 revenue expected between $450,000,000 and $500,000,000.Conference Call Details Date: Apr 22, 2020View more earnings on ECHOWebcast URL: https://ir.echo.com/events?item=26Technicals 52-week high: $25.9552-week low: $14.17Price action over last quarter: down 24.71%Company Profile Founded in 2005, Echo Global Logistics is an asset-light third-party logistics provider specializing in domestic truckload and less-than-truckload brokerage. It also offers intermodal and international air and ocean freight forwarding services, though to a lesser degree. Key strategic initiatives include gaining organic market share in the highly fragmented brokerage industry and supplementing its sales capabilities through tuck-in acquisitions. Echo completed its initial public offering in October 2009.See more from Benzinga * Recap: TD Ameritrade Holding Q2 Earnings * Recap: Alcoa Q1 Earnings * Morning Market Stats in 5 Minutes(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll look at Echo...

Getting companies further down the supply chain to adapt new technology has always been a challenge, according to Doug Waggoner, the CEO of Echo Global Logistics (NASDAQ: ECHO).But in an interview with FreightWaves founder and CEO Craig Fuller at FreightWaves LIVE @HOME, the online event that is bringing together supply chain leaders in virtual settings, Waggoner said it was starting to get a little easier.Waggoner was asked by Fuller what things might have occurred in the freight industry had it not been hit by the COVID-19 pandemic. Echo Global has long spent significant sums of capital on technology investment. But adoption hasn't always been easy."When we put out technology for trucking companies, there are some trucking companies that are eager to adopt it and jump on the bandwagon," Waggoner said. "Same for shippers. There are some that demand it."Unfortunately, Waggoner said, "there are some that aren't ready for it."But there is change in the air. "One of the things I've seen happen because of the focus on digital is that some of those slow adopters are starting to speed up and starting to accelerate their willingness to deal with technology and go through a digital marketplace to book capacity," Waggoner added.Fuller asked Waggoner given that the brokerage space is constantly changing, whether a possible disruption coming from load boards such as DAT and Truckstop.com are a threat to companies like Echo Global. Echo needs to incorporate data from companies such as those two to make many of its freight matching tools work.Waggoner said Echo "picks our partners carefully. We do believe that some of these partnerships are important. There is a data component and there is market access."He also said he doesn't see that sort of migration by load boards into either the brokerage space or being modified so that loads can be booked directly through a load board, pushing out intermediaries. "They don't want to be competitors," Waggoner said. "They have an important function to play in the marketplace and they play it. I think they understand their place and we understand ours."Brokers have been  under fire on social media and at trucker protests from drivers who are directing their anger at low freight rates on to the brokers themselves. The anger has gotten bad enough that the head of the main brokers trade group posted an unusual video defending the industry.Waggoner did say that he believed that technology will mean a "longer-term secular compression of margins as people get more efficient and don't need to have the margins we traditionally have had."But he also addressed the current market in a way that did not speak to the anger directly but where it seemed to be the underlying message – it isn't all that the critics make it out to be.The normal lag on the way up and the way down means that there will always be periods of contracting and expanding broker margins, Waggoner said. "In the last six weeks, we've seen kind of a microcosm of how that plays out," he added.When capacity is tight, like it was in those first weeks when the pandemic hit and there was a mad rush to restock shelves, "the prices go up and third parties like Echo get their margins squeezed, because the prices we pay are going up faster than we can pass them through to our customers."And when demand softens and there is an excess of capacity, "the price we pay for that capacity falls faster than what we charge customers," Waggoner said. That's the current situation but things are changing rapidly, according to Waggoner. He described current rates as "very depressed," and said rates in the last few weeks have fallen by an "amazing" amount. Over time, prices move up or down but overall for brokers' bottom line, "the gross profit dollars or the net revenue dollars per shipment really don't fluctuate that much," Waggoner said. The picture of a brokerage company is always that of a lot of people sitting in some sort of open-plan office, working the phones or on their screens. But Echo Global, like all companies, has sent its workers home, roughly all 2,600 of them. Waggoner isn't sure in what form they'll be coming back."At some point I think we'll get everybody back at work," Waggoner said."But I think we're going to take it slow and let it kind of happen organically."But that's short- to medium-term. Longer term, Waggoner questioned whether the old ways will be necessary going forward. "I do think this causes us to question whether people need to come to work [at an office] five days a week," Waggoner said. "Maybe in a city like Chicago where you can have a (90-minute) commute one way, maybe it is a great fringe benefit for working for Echo to be able to work from home one or two days a week."Waggoner is one of those who has gained time from the lack of commuting; he described his daily trip as three hours per day.And once in the office, Waggoner said he always had an "open door policy" but spelled out some of the productivity pitfalls to that. "You invite them in and you have a 20- or 30-minute conversation," he said. "But it was in the middle of something you were doing and now you have to restart and figure out where you were and get back in the groove."Working from home now, Waggoner conceded "I'm a lot more productive."Waggoner was asked his view of the current market. He reviewed the timeline that everybody pretty much knows now – a tremendous surge in volume starting in mid-March, followed by a "major hit in truckload." "But the good news for me is that it seems like it leveled off and in the last week has started to pick up a little bit," he said. The recovery, according to Waggoner, is going to be a "U-shaped recovery," What isn't known, he added, is "whether it is a wide U or a narrow U." But for now, he said, "I think we've hit the bottom."See more from Benzinga * WHAT THE TRUCK?!? Live On Day 1 From FreightWaves LIVE @HOME (With Video) * COVID-19 Pandemic Threatens Positive Train Control Implementation * COVID-19 Study Finds Disaster Plan Readiness Linked To Fleet Size(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.