Company earnings

Slowing bitcoin revenue drags down Square earnings

As third-quarter earnings results have poured in for major online retailers, investors have been left in a state of confusion. Amazon, Wayfair and Shopify all posted results that were below investors’ expectations.

Amazon.com (NASDAQ:AMZN), Wayfair (NYSE: W) and Shopify (NYSE: SHOP) represent only one side of the equation, though. Fintech firms underpin the omnichannel payment sector, and Square is the first major company to report its quarterly results.

Like the e-tailers, Square (NYSE: SQ)...

https://www.freightwaves.com/news/square-releases-q3-earnings

Deutsche Post DHL posts sizzling Q3 results, raises 2021, 2023 outlooks

A rendering of a mustard-colored DHL electric cargo aircraft flying in the clouds.

German transport and logistics giant Deutsche Post DHL posted very strong third-quarter results on Thursday, with revenue up 23.5% to $23.1 billion, operating profit up 28.6% to nearly $2.1 billion and operating margins increasing to 8.8% from 8.5%.

The company also raised its 2021 guidance for earnings before interest and taxes (EBIT) to a record $8.9 billion, above the initial full-year estimate of nearly $8.1 billion made in early October when the company disclosed preliminary results for the...

https://www.freightwaves.com/news/deutsche-post-dhl-posts-sizzling-q3-results-raises-2021-2023-outlooks

Fleetcor beats Q3 expectations again with 29% YOY revenue growth

Fleetcor's third-quarter results beat expectations again.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. (NYSE: FLT) on Wednesday reported total revenue for the third quarter grew 29% year-over-year to nearly $756 million. Net income increased to $234 million for the quarter, a 24% year-over-year rise.

After record retention and sales in the second quarter, the trend continued in Q3. 

Fleetcor’s adjusted earnings per share (EPS) reached $3.52 for the third quarter, increasing 26% year-over-year from $2.80. The...

https://www.freightwaves.com/news/fleetcor-beats-q3-expectations-again-with-29-yoy-revenue-growth

Nikola will push indicted founder to reimburse expected $125M SEC fine

Nikola Corp. set aside $125 million to potentially settle a Securities and Exchange Commission complaint but will seek to get indicted founder Trevor Milton to reimburse the civil penalty and other costs.

The startup electric truck maker is awaiting full SEC approval of the settlement, which covers alleged fraudulent claims by Milton, the company founder and former executive chairman. He faces criminal trial next April on three federal fraud counts. Milton is free on $100 million bail.

“We...

https://www.freightwaves.com/news/nikola-will-push-indicted-founder-to-reimburse-expected-125m-sec-fine

Shares of Wayfair fall on back of mixed Q3 earnings

Wayfair reports Q3 2021 earnings, misses on revenue, beats on EPS

Home furniture marketplace Wayfair posted a mixed Q3 2021 earnings report on Thursday, beating consensus analyst estimates on adjusted earnings per share while missing on revenue.

The e-commerce firm reported revenue of $3.1 billion, down 18.7% year-over-year from Q3 2020’s $3.8 billion. The company also lost $718.5 million quarter-over-quarter, the second quarter in a row in which revenue has declined.

Wayfair’s (NYSE: W) stock price was down about seven basis points in the morning following...

https://www.freightwaves.com/news/shares-of-wayfair-fall-on-back-of-mixed-q3-earnings

Trimble tops analysts’ Q3 expectations in revenue, earnings per share

Trimble Inc.’s third-quarter total revenue of more than $901 million and adjusted earnings per share of 66 cents beat analyst expectations.

Wall Street analysts had forecast EPS of 59 cents per share and revenue of $877.5 million for the quarter. During the third quarter of 2020, Trimble reported EPS of 34 cents and $792.8 million in revenue.

CEO Robert Painter said Wednesday during an earnings call that the company is “raising our annual earnings guidance despite a tightening supply chain...

https://www.freightwaves.com/news/trimble-transportation-segment-reports-161m-in-revenue

Yellow turns a profit, restructuring moves forward

5.9% general rate increase starts Monday

Strong fundamentals in the less-than-truckload market, marked by considerably higher yields, combined with a companywide restructuring drove a net profit at Yellow Corp. during the third quarter.

Yellow (NASDAQ: YELL) reported earnings per share of 16 cents compared to a net loss of 4 cents per share a year ago. This was the first positive number on the EPS line since the 2020 first quarter. But that period included an asterisk as the company booked almost $40 million in gains on the sale of...

https://www.freightwaves.com/news/yellow-turns-a-profit-restructuring-moves-forward

LTL profit setbacks mar XPO’s coming-out party

This probably wasn’t the way Brad Jacobs wanted to start the show.

In its first reporting quarter since spinning off its logistics business in August to become a transportation-centric company, XPO Logistics Inc. delivered profit results late Tuesday that Jacobs, XPO’s chairman and CEO, called “mixed” but which analysts and investors might call disappointing.

XPO’s (NYSE:XPO) North American freight brokerage division killed it in the quarter, delivering 62% year-on-year gains in gross and net...

https://www.freightwaves.com/news/ltl-profit-setbacks-mar-xpos-coming-out-party

Air Canada rides auxiliary freighters to record cargo revenue

Tail end of an Air Canada jet with cargo loaded in rear door.

Air Canada finally transitioned to full recovery from the pandemic during the third quarter, behind its U.S. peers, with the help of record cargo revenues.

The Canadian carrier on Tuesday posted CA$366 million ($291 million) of revenue from cargo operations, aided by the continued heavy use of passenger aircraft as dedicated freighters. Cargo sales were more than double the level during the third quarter of 2019. Air Canada (OTCUS: ACDVF), for the first time,  surpassed CA$1 billion ($795...

https://www.freightwaves.com/news/air-canada-rides-auxiliary-freighters-to-record-cargo-revenue

XPO posts record quarterly revenue in Q3; LTL results mixed

XPO Logistics Inc., riding a wave of strong demand, reported on Tuesday $3.27 billion in third-quarter revenue, the highest top-line number for any quarter in the company’s 10-year history.

Greenwich, Connecticut-based XPO (NYSE: XPO) said it plans to expand its LTL trailer production with the goal of doubling trailer capacity next year. The company wilI also add 900 doors to its nationwide LTL count over the next one to two years and will impose accessorial charges for detained trailers,...

https://www.freightwaves.com/news/xpo-posts-record-quarterly-revenue-in-q3

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