Roadrunner Trans Stock Price, News & Analysis

On June 16, 2022, Roadrunner announced that its Vice President of Capacity, Dave Renfrew, received the Industry Recruiting Professional of the Year award from Transport Topics. This accolade recognizes the company's efforts in enhancing driver relations, with a strong focus on recruiting veterans and female drivers. Roadrunner's unique less-than-truckload (LTL) network offers competitive earnings for owner-operator truck drivers, confirming the company's commitment to empowering entrepreneurs in the logistics sector.

Roadrunner, a less-than-truckload carrier, has announced a second rate increase for 2022, effective March 14. This initiative includes substantial driver incentives aimed at improving compensation in a competitive logistics market. Key updates encompass a 20 cents per mile bonus for teams, a 4 cents per mile network minimum pay increase, a 25 cents per mile hike in deadhead rates, and a 10 cents per gallon fuel discount. The company also offers $10,000 signing bonuses for solo owner-operators. Additionally, Roadrunner unveiled a new logo, reflecting its commitment to transformation.

Roadrunner, a leading LTL carrier, has received the On-Time Pickup Performance Award and EDI Compliance Award from Amazon for its exceptional service. The company surpassed all Amazon LTL carriers with its on-time pickup rate and efficient EDI data transmittal. Roadrunner has made significant improvements in operational efficiency, reducing transit times across 120 lanes in 32 major metro markets. The firm is actively recruiting top sales executives to enhance its service capabilities. Roadrunner's focus on operational excellence positions it for ongoing success in the logistics market.

Roadrunner Freight (Pink: RRTS) announced the closure of a $50 million equity private placement on March 25, 2021. The investment was led by Andrew Leto, founder of GlobalTranz, who contributed $10 million and joins the Board. Proceeds will focus on technology development and talent acquisition to enhance service and operational efficiency. Notable board additions include Leto and Kevin Shuba. Roadrunner reported record on-time delivery rates and plans to launch a guaranteed service offering by spring 2021, reinforcing its commitment to reliable LTL services.

Roadrunner Freight, the LTL division of Roadrunner Transportation Systems (RRTS), celebrates National Truck Driver Appreciation Week by honoring its top drivers with the Driver of the Year Award. This year's recipients are Brenda Kyle, Kenneth Bell, and Angelo Culotta, recognized for their safety and operational excellence. The company also plans to distribute tokens of appreciation to drivers across its service centers. Roadrunner aims to enhance the driver experience and positions itself as a preferred employer for Independent Contractors and Owner Operators.

Roadrunner Transportation Systems, Inc. (Pink: RRTS) has shifted its business model to focus exclusively on less-than-truckload (LTL) services. This transition follows the sale of its temperature-controlled truckload division, RRTC Holdings, to Laurel Oak Capital Partners on July 30, 2020, as part of a broader reorganization strategy. RRTC Holdings, now a standalone entity, specializes in temperature-controlled transport for food and beverage sectors across 48 states. The divestiture aims to strengthen Roadrunner's position in the logistics market amidst challenges presented by COVID-19.

Roadrunner Transportation Systems (RRTS) has completed the divestiture of its truckload segment, selling Rich Logistics and Integrated Services, Inc. and Roadrunner Temperature Controlled to strategic buyers. This marks the transition to a focused less-than-truckload (LTL) carrier, reducing liabilities by approximately $400 million and entering a new $45 million credit facility. Despite challenges posed by COVID-19, Roadrunner reported positive EBITDA for the first time in three years. New facilities in Riverside and Philadelphia are aimed at enhancing service capabilities.