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On March 29, 2021, Echo Global Logistics (NASDAQ: ECHO) announced it was named to the 2020 Top 3PL & Cold Storage Providers list by Food Logistics for the fourth consecutive year. This recognition underscores Echo's proficiency in transportation management for food and beverage shipments, emphasizing its commitment to handling cold chain logistics effectively. With over 35,000 food and beverage shipments annually, Echo leverages advanced technology for real-time tracking and customized solutions to enhance client service.
Echo Global Logistics, Inc. (NASDAQ: ECHO) received three prestigious awards for its innovative recruitment strategies aimed at early career talent. Recognized as a 2021 Campus Forward Awards honoree by RippleMatch, a Top 10 Internship Program by Scholars, and a Top 100 Entry Level Employer by CollegeGrad.com, Echo's efforts include a successful shift to virtual recruitment and a strong commitment to Diversity & Inclusion. The company aims to empower a diverse range of candidates through their internship programs and partnerships with various organizations.
Echo Global Logistics (ECHO) reported strong financial results for Q4 and full year 2020, showcasing significant growth despite a competitive freight market. Q4 revenue rose by 41.9% to $754.3 million, and net income soared by 664.2% to $11 million. For the full year, revenue increased 14.9% to $2.5 billion. Truckload revenue surged 56.0% in Q4, while less than truckload revenue grew 16.0%. The company anticipates 2021 revenue between $2.725 billion and $2.925 billion.
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.
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.
