Company profile

Ticker
RRTS
Exchange
Website
CEO
Curtis W. Stoelting
Employees
Incorporated in
Location
Fiscal year end
Former names
Roadrunner Transportation Services Holdings, Inc.
SEC CIK
IRS number
202454942

RRTS stock data

(
)

Calendar

30 Mar 20
10 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Dec 19 Sep 19 Jun 19 Mar 19
Revenue 459.15M 480.69M 507.15M
Net income -74.24M -97.75M -141.95M -27M
Diluted EPS -1.79 -2.6 -3.77 -1.78
Net profit margin -21.29% -29.53% -5.32%
Operating income -70.47M -92.83M -137.84M -20.78M
Net change in cash -1.05M 929K 284K -6.57M
Cash on hand 4.78M 5.83M 4.9M 4.61M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 1.85B 2.22B 2.09B 2.03B
Net income -340.94M -165.6M -91.19M -360.32M
Diluted EPS -10.62 -107.39 -59.37 -9.4
Net profit margin -18.45% -7.47% -4.36% -17.72%
Operating income -321.92M -58.5M -36.45M -403.77M
Net change in cash -6.4M -14.52M 0 17.77M
Cash on hand 4.78M 11.18M 25.7M 25.7M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
22 May 20 Nicholson Peter A Common Stock Payment of exercise Dispose F No 2.23 208 463.84 1,592
22 May 20 Stenglein Thomas D. Common Stock Payment of exercise Dispose F No 2.23 340 758.2 28,131
21 May 20 Smith Douglas James Employee Stock Option Common Stock Grant Aquire A No 2.21 65,000 143.65K 65,000
19 May 20 Goodgion William Employee Stock Option Common Stock Grant Aquire A No 1.95 80,000 156K 80,000
15 May 20 Stenglein Thomas D. Common Stock Payment of exercise Dispose F No 1.96 339 664.44 28,471
15 May 20 Hurst Frank L Common Stock Payment of exercise Dispose F No 1.96 284 556.64 72,806
93.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 37 37
Opened positions 5 3 +66.7%
Closed positions 5 4 +25.0%
Increased positions 14 11 +27.3%
Reduced positions 13 14 -7.1%
13F shares
Current Prev Q Change
Total value 92.85M 218.42M -57.5%
Total shares 35.31M 35.66M -1.0%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Elliott Investment Management 34.16M $87.1M NEW
Solas Capital Management 349.42K $891K +48.2%
BLK BlackRock 292.17K $746K +0.7%
Amica Mutual Insurance 80.87K $206K -82.6%
NJ State Employees Deferred Compensation Plan 64K $163K 0.0%
Vanguard 61.16K $157K +0.4%
NTRS Northern Trust 55.04K $140K +5.2%
STT State Street 37.85K $97K -33.4%
Geode Capital Management 37.53K $95K +8.5%
Proficio Capital Partners 30K $70K 0.0%
Largest transactions
Shares Bought/sold Change
Stonington Management 0 -34.16M EXIT
Elliott Investment Management 34.16M +34.16M NEW
Amica Mutual Insurance 80.87K -382.74K -82.6%
Solas Capital Management 349.42K +113.72K +48.2%
Amica Retiree Medical Trust 11.38K -53.84K -82.6%
Renaissance Technologies 20.69K -26.9K -56.5%
STT State Street 37.85K -19.02K -33.4%
Citadel Advisors 17.89K +17.89K NEW
CS Credit Suisse 0 -11.1K EXIT
IVZ Invesco 20.72K +9.48K +84.4%

Financial report summary

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Risks
  • We have identified material weaknesses in our internal control over financial reporting which could, if not remediated, adversely affect our ability to report our financial condition and results of operations in a timely and accurate manner, investor confidence in our Company, and the value of our common stock.
  • The restatement of our previously issued financial results has resulted in private litigation, derivative lawsuits, and government agency investigations and actions, and could result in additional litigation, government agency investigations, and enforcement actions.
  • The restatement of our previously issued financial statements was time-consuming and expensive and could expose us to additional risks that could adversely affect our financial position, results of operations, and cash flows.
  • One or more significant claims or the cost of maintaining our insurance could have an adverse effect on our results of operations.
  • Increased insurance premium costs could have an adverse effect on our results of operations.
  • The cost of compliance with, liability for violations of, or modifications to existing or future governmental laws and regulations could adversely affect our business and results of operations.
  • Our operations are subject to various environmental laws and regulations, the violation of which could result in substantial fines or penalties.
  • A decrease in levels of capacity in the over-the-road freight sector could have an adverse impact on our business.
  • We have not successfully managed, and may not in the future manage, our growth or operations.
  • Our outstanding debt could adversely affect our business and limit our ability to expand our business or respond to changes, and we may be unable to generate sufficient cash flow to satisfy our debt service and preferred stock obligations.
  • We have had, and may have in the future, difficulties integrating acquired companies.
  • Any acquisitions that we undertake could be difficult to integrate, disrupt our business, dilute stockholder value, and adversely affect our results of operations.
  • Our ABL Credit Facility and Third Lien Credit Facility contain financial and other restrictive covenants with which we may be unable to comply. A default under these financing arrangements could cause a material adverse effect on our liquidity, financial condition, and results of operations.
  • Fluctuations in the price or availability of fuel and limitations on our ability to collect fuel surcharges may adversely affect our results of operations.
  • A significant or prolonged economic downturn in the transportation industry, or a substantial downturn in our customers' business, could adversely affect our revenue and results of operations.
  • We operate in a highly competitive industry and, if we are unable to adequately address factors that may adversely affect our revenue and costs, our business could suffer.
  • Our operating results could make it difficult for us to retain and attract executives. If we fail to effectively integrate and retain executives, we may not be able to accomplish our growth strategy and our financial performance may suffer.
  • Our business will be adversely impacted if we fail to develop, implement, maintain, upgrade, enhance, protect, and integrate our information technology systems.
  • A failure of our information technology infrastructure or a breach of our information security systems, networks or processes may materially adversely affect our business.
  • Our reliance on ICs to provide transportation services to our customers could impact our operations and ability to expand.
  • Our third-party carriers must meet our needs and expectations, and those of our customers, and their inability to do so could adversely affect our results of operations.
  • If our ICs are deemed to be employees, our business and results of operations could be adversely affected.
  • Our financial results may be adversely impacted by potential future changes in accounting practices.
  • Seasonal sales fluctuations and weather conditions could have an adverse impact on our results of operations.
  • Terrorist attacks, anti-terrorism measures, and war could have broad detrimental effects on our business operations.
  • Although our operations are primarily in the United States, we are subject to international operational and financial risks.
  • Our ability to raise capital in the future may be limited, and our failure to raise capital when needed could prevent us from achieving our growth objectives.
  • Our total assets include goodwill, intangibles and other long-lived assets. If we determine that these items have become impaired in the future, our earnings could be adversely affected.
  • If we are unable to expand the number of our sales representatives, or if a significant number of our existing sales representatives leave us, our ability to increase our revenue could be negatively impacted.
  • Changes in our relationships with our significant customers, including the loss or reduction in business from one or more of them, could have an adverse impact on us.
  • We are a smaller reporting company and may elect to comply with reduced public company reporting requirements applicable to smaller reporting companies, which could make our common stock less attractive to investors.
  • The market value of our common stock may fluctuate and could be substantially affected by various factors.
  • As of December 31, 2019, Elliott beneficially owned approximately 90.7% of our common stock. As a result, our other stockholders are minority stockholders in a company controlled by Elliott. There may be very limited liquidity for our common stock, and there may be more limited opportunities for our stockholders to realize a control premium.
  • We are a “controlled company” within the meaning of the NYSE listing standards. Consequently, our stockholders may not have the same protections afforded to stockholders of companies that are subject to all of the NYSE corporate governance rules and requirements.
  • Since Elliott owned greater than 35% of our common stock after the closing of the rights offering, the acquisition of shares by Elliott in the rights offering was deemed a change in control under certain management compensation plans and agreements, which could cause a material adverse effect on our liquidity, financial condition, and results of operations. In addition, the ownership by Elliott of a substantial percentage of our common stock after the closing of the rights offering may be deemed a change in control under certain of our other arrangements and agreements with customers, suppliers, or other parties, which could cause a material adverse effect on our liquidity, financial condition, and results of operations.
  • Provisions in our certificate of incorporation, our bylaws, and Delaware law could make it more difficult for a third party to acquire us, discourage a takeover, and adversely affect existing stockholders.
  • We intend to voluntarily delist our common stock from the NYSE and deregister our common stock under the Exchange Act.
Management Discussion
  • Our consolidated revenues decreased to $1,847.9 million in 2019 compared to $2,216.1 million in 2018. Lower revenues in all segments contributed to the decrease.
  • Our consolidated operating loss increased to $321.9 million in 2019 compared to $58.5 million in 2018. The 2019 operating loss included operations restructuring costs of $20.6 million related to our dry van truckload business and asset impairment charges of $197.1 million. The 2018 operating loss included operations restructuring costs of $4.7 million related to our temperature controlled business. Lower consolidated operating results in 2019 were attributable to decreased revenues, increased impairment charges and restructuring costs, partially offset by lower purchased transportation costs, other operating expenses, and gain on sale of businesses.
  • Our consolidated net loss increased to $340.9 million in 2019 compared to $165.6 million in 2018. In addition to the operating results within our segments and corporate, our net loss reflected a decrease in interest expense to $20.4 million in 2019 from $116.9 million in 2018 due to the absence of interest on the preferred stock (which was fully redeemed in the first quarter of 2019 after completion of the rights offering).
Content analysis ?
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