This report does not constitute a rating action. TORONTO (S&P Global Ratings) Oct. 28, 2026--S&P Global Ratings today said that Echo Global Logistics Inc.'s (B-/Positive/--) year-to-date 2026 earnings (excluding transaction costs) have been mostly in line with our expectations. The company has increased its earnings by 64% so far this year (including the contributions from its March 2026 acquisition of ITS Logistics). While the increase in Echo's freight rates during this period has been offset by its rising purchased transportation costs, we forecast it will strengthen its earnings in the second half on tightening freight-market conditions and the inclusion of higher-margin ITS'operations. Echo increased its organic revenue by about 24% during the six months ended June 30, 2026, primarily
