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Echo Global Logistics (NASDAQ: ECHO) has announced a partnership with KeepTruckin to enhance its EchoDrive Preferred rewards program for carrier partners. Members of this program can now access discounts on various KeepTruckin products, including ELDs and AI-powered Smart Dashcams. EchoDrive Preferred already offers multiple benefits, such as early freight access and discounts on truck leases and maintenance services. This collaboration aims to strengthen relationships with over 50,000 carriers and attract new providers, further optimizing operations in the transportation industry.
Echo Global Logistics (NASDAQ: ECHO) has appointed Brian Parchem as Chief Information Officer, effective immediately. Parchem brings extensive experience from TransUnion, where he served as Executive Vice President of Global Engineering and Operations, overseeing IT strategy. His prior roles at HSBC included Global Senior Director of IT Engineering Operations. Doug Waggoner, CEO of Echo, emphasized Parchem's unique blend of technology expertise and talent management, indicating confidence in his ability to drive growth and innovation at Echo. The company aims to lead in logistics technology while simplifying transportation management.
Echo Global Logistics (NASDAQ: ECHO) has announced the release date for its fourth quarter 2020 earnings results, set for February 3, 2021 after market close. A conference call will follow at 4:00 p.m. CT to discuss these results. This announcement reflects Echo's ongoing commitment to transparency with investors as it provides technology-enabled transportation and supply chain management services across the U.S., leveraging a network of over 50,000 transportation providers.
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Echo Global Logistics (NASDAQ: ECHO) reported a record third quarter for 2020, achieving a revenue increase of 23.2% to $691.5 million compared to Q3 2019. Truckload revenue surged 32.3% to $488.2 million, while net income rose 40.8% to $6.8 million.
Despite these gains, the net revenue margin declined to 14.5%, down from 17.3% the previous year. The company anticipates fourth-quarter revenue between $675 million and $725 million.
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Echo Global Logistics (NASDAQ: ECHO) will release its third quarter 2020 earnings after market close on October 28, 2020. The earnings results will be discussed in a conference call at 4:00 p.m. CT the same day, hosted by CEO Doug Waggoner, COO Dave Menzel, and CFO Pete Rogers. Investors can participate by calling 877-303-6235 or listen to the webcast available on the company's website for a year. Echo provides technology-enabled transportation and supply chain management services, leveraging its extensive network of over 50,000 transportation providers.
Echo Global Logistics has promoted Peter M. Rogers to Chief Financial Officer, effective October 5, 2020. Rogers, who has over 13 years of experience at the company, previously served as SVP Finance – Controller. He succeeds Kyle L. Sauers, who will stay on temporarily as a non-executive employee to facilitate a smooth transition. The CEO, Doug Waggoner, expressed confidence in Rogers’ ability to contribute to the company’s growth strategy. Echo Global Logistics is recognized for its technology-enabled transportation management services, serving 35,000 clients across various industries.
Echo Global Logistics (NASDAQ: ECHO) introduced a Book Now feature for its EchoDrive platform, allowing carriers to book loads online via a web portal and mobile app. This functionality enhances booking efficiency and visibility, enabling carriers to secure loads anytime with instant rate confirmations. Following a successful pilot program, feedback from users has been overwhelmingly positive. The move reflects Echo's commitment to leveraging technology to support its carrier network.
Echo Global Logistics (NASDAQ: ECHO) was recognized as one of Food Logistics' FL100+ Top Software and Technology Providers for the second consecutive year, highlighting its role in innovations within the food supply chain. The company's focus on technology includes advanced transportation management systems like EchoDrive and EchoShip, which enhance operational efficiency for clients. CEO Doug Waggoner emphasized the importance of technology in simplifying transportation management, reinforcing Echo's commitment to meeting the unique needs of food and beverage clients.