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Echo Global Logistics: 3Q Earnings Snapshot

·1 min read

CHICAGO (AP) _ Echo Global Logistics Inc. (ECHO) on Wednesday reported third-quarter net income of $6.8 million.

The Chicago-based company said it had profit of 26 cents per share. Earnings, adjusted for one-time gains and costs, were 40 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The provider of supply-chain management services posted revenue of $691.5 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $601.7 million.

For the current quarter ending in December, Echo Global Logistics said it expects revenue in the range of $675 million to $725 million.

Echo Global Logistics shares have increased 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.37, an increase of 12% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ECHO at https://www.zacks.com/ap/ECHO