Frozen Food Express' 3Q Loss Grows

Frozen Food Express Industries on Friday said its third-quarter loss increased from a year ago.

The refrigerated carrier lost $13.7 million, or 77 cents a share, compared with a loss of $2.3 million, or 13 cents, a year ago.

Revenue rose to $103 million, from $94 million a year ago, while revenue excluding fuel surcharges increased 2.6% to $81.5 million, the company said in a statement.

Less-than-truckload revenue rose 4.5% to $30.7 million, while truckload revenue fell 5.5% to $44.5 million.

In a statement, CEO Russell Stubbs said the company has taken steps to streamline its operations by limiting dry-freight services to refrigerated equipment in limited lanes while placing greater focus on its refrigerated truckload and LTL services.

“Focus in these areas, and growth in our logistics offerings, will be a key to restoring our company to meaningful profitability,” Stubbs said in the statement.

Frozen Food Express is ranked No. 57 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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Roadrunner's Third-Quarter Profit Grows

Roadrunner Transportation

Roadrunner Transportation Systems’ third-quarter profit climbed to $7.2 million, or 23 cents a share, from $4.4 million, or 14 cents, a year ago.

The company, which went public last year, said late Wednesday its revenue rose 38.2% to $226 million.

Less-than-truckload revenue rose 17.7% including fuel to $126 million, while truckload revenue jumped 102.9% to $79 million.

In the transportation management solutions segment, revenue climbed 20.6% to $22 million.

CEO Mark DiBlasi attributed Roadrunner’s improved LTL revenue to new customer growth and expansion into new markets.

DiBlasi said truckload revenue growth was driven by the company’s acquisitions of Morgan Southern in February, Bruenger Trucking in May and Prime Logistics Corp. in August. Prime Logistics Corp. is not connected to refrigerated hauler Prime Inc.

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