contract logistics

Universal Logistics sees potential back-half uptick in freight volumes

Universal Logistics Holdings Inc. surpassed Wall Street expectations in the fourth quarter, despite revenue decreases across the firm’s trucking, intermodal and brokerage segments.

“The outlook for 2024 remains a bit murky with a variety of signals from various market verticals,” Tim Phillips, CEO of Universal Logistics Holdings, said in a call with analysts on Friday. “We’re not ready to predict a rise in volume from the current environment. We can explore potential pathways through the lens of...

https://www.freightwaves.com/news/universal-logistics-sees-potential-back-half-uptick-in-freight-volumes

Kuehne+Nagel Q2 profits rise 78% on lower shipping volumes

Kuehne + Nagel sign on building

Second-quarter earnings for Kuehne + Nagel, the world’s second-largest logistics provider, underscore how supply chain disruptions that hurt the bottom line of goods’ owners can drive profits as customers seek extra help navigating shipping complexity and uncertainty.

Elevated yields continue to exceed exceptionally high freight transportation and warehousing costs, pushing up revenue 45% to 10.4 billion Swiss francs ($10.9 billion) and operating profit 78% to $1.1 billion versus the 2021 June...

https://www.freightwaves.com/news/kuehne-nagel-q2-profits-rise-78-on-lower-shipping-volumes

Universal Logistics beats in Q1, ups expectations for 2022

A black tractor pulling a white Universal trailer

Multimodal transportation and logistics provider Universal Logistics Holdings reported record quarterly results during the first quarter of 2022. The company lifted its full-year 2022 outlook and issued second-quarter guidance ahead of the consensus estimate.

Universal (NASDAQ: ULH) reported earnings per share of $1.56 after the market closed Thursday. The number was nearly double the year-ago result and outpaced its implied guidance in the high-80-cent range.

“Our efforts evaluating operating...

https://www.freightwaves.com/news/universal-logistics-earnings-q1-2022

GXO makes firm offer for Clipper Logistics

GXO to add Clipper Logistics to portfolio

GXO Logistics announced Monday a firm offer to acquire U.K.-based Clipper Logistics. Terms of the offer are unchanged and if successful, GXO would acquire Clipper for approximately $1.3 billion in a cash and equity transaction.

Under the proposed deal, Clipper (CLG.L.EB) shareholders will receive 920 pence ($12.33) per share, 75% of which would be distributed in cash with the remainder coming from newly issued shares of GXO stock.

GXO (NYSE: GXO) previously announced Feb. 20 that Clipper had...

https://www.freightwaves.com/news/gxo-makes-firm-offer-for-clipper-logistics

M&A just one avenue of growth for GXO

Facility automation upgrades present incremental revenue stream on existing contracts

The need for warehouse space and the people and tech to run it is at an all-time high. Getting goods to consumers faster has become the equation every supply chain manager is trying to solve. However, industrial real estate vacancies are at record lows and skilled labor remains a pinch point across many parts of the world. The combination has created an abundance of opportunities for well-positioned logistics facility operators.

GXO (NYSE: GXO) is one such provider thriving in the space, growing...

https://www.freightwaves.com/news/ma-just-one-avenue-of-growth-for-gxo

Universal Logistics sees bridge blockade as ‘blip’ to strong 2022

Stock pops 7% on better-than-expected guide

Universal Logistics Holdings “had its share of challenges” during 2021. Port and supply chain congestion and a tough labor market weighed on production at the auto and truck OEMs, the Michigan-based asset-light transportation provider’s primary customer base.

“Yet, despite these challenges, Universal’s business model continued to deliver impressive results,” CEO Tim Phillips stated in a press release. The company reported record full-year revenue in 2021, up 26% year-over-year to $1.75 billion,...

https://www.freightwaves.com/news/universal-logistics-sees-bridge-blockade-as-blip-to-strong-2022

Shipping giant MSC offers to buy Africa unit of Bolloré Logistics

A large container vessel with MSC on hull at a port with large cranes hovering over it.

Mediterranean Shipping Co., the world’s second-largest ocean container line, has made an offer to acquire the Africa division of Bolloré Group, the France-based third-party logistics provider announced Monday. 

The move is part of a recent trend that has seen ocean carriers and terminal operators become more vertically integrated freight transportation and logistics providers to diversify their revenue streams and offer customers holistic supply chain solutions based on variable needs. Supply...

https://www.freightwaves.com/news/shipping-giant-msc-offers-to-buy-africa-unit-of-bollore-logistics

Latest deal lands STG Logistics a Port Everglades footprint

STG, Wind Point ink another deal

Asset-light air and ocean logistics provider STG Logistics announced Thursday it has acquired International Warehouse Services (IWS).

Florida-based IWS provides warehousing, trucking and distribution services out of its 250,000-square-foot facility in Port Everglades. The company’s full-time staff of 50 also offers brokerage and customs clearance.

Terms of the transaction were not disclosed.

“The IWS acquisition further expands our capabilities and presence in the strategically located and rapidly...

https://www.freightwaves.com/news/latest-deal-lands-stg-logistics-a-port-everglades-footprint

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