contract logistics

Universal Logistics seeks expense relief from customers

Wages and accessorial charges at the ports are items of concern for Universal

Launch costs associated with a new business win at an auto manufacturer’s facility pulled down Universal Logistics Holdings’ third-quarter results.

The Warren, Michigan-based asset-light transportation and logistics provider recorded a $7.1 million loss on the new piece of business in the period, which in part pushed earnings per share 24% lower year-over-year to 38 cents, well short of the 64-cent-consensus estimate.

In total, $12.9 million in startup and litigation costs weighed on Universal’s (

https://www.freightwaves.com/news/universal-logistics-seeks-expense-relief-from-customers

Record performance for GEODIS in the first half of 2021

Record performance for GEODIS in the first half of 2021

  • In the first half of 2021, GEODIS achieved revenues of €4,865 million, up +21% compared to 2020 at constant exchange rates and scope of consolidation, resulting from sustained activity recorded in all the Group’s business lines and regions.
  • EBITDA of €458 million, up by more than 60%.
  • The amount of operating cash flow has enabled the Group to finance acquisitions while reducing net financial debt compared to June 2020 (-€123 million).
  • GEODI...

https://allaboutshipping.co.uk/2021/07/30/record-performance-for-geodis-in-the-first-half-of-2021/

Kuehne + Nagel hits Q2 home run amid supply chain uncertainty

A Kuehne + Nagel truck approaches a K + N warehouse.

Kuehne + Nagel, the second-largest logistics provider in the world, on Tuesday said a huge surge in air and ocean shipments propelled earnings to new highs in the second quarter.

The company generated 605 million Swiss francs (CHF) ($623 million) in pretax income, more than double last year’s performance for the quarter, thanks to a 48% jump in net revenues. First-half earnings before taxes and interest increased almost 150% to $1.1 billion.

The results reflect the soaring demand since the end of...

https://www.freightwaves.com/news/kuehne-nagel-hits-q2-home-run-amid-supply-chain-uncertainty

Kuehne + Nagel uses ‘agile structure’ to weather 1H 2020

Kuehne + Nagel Group headquarters

Global freight forwarder Kuehne + Nagel Group (OTCMKTS: KHNGY) used its “agile structure, rigorous cost management and high-quality service offerings” to counter potentially devastating financial impacts from the coronavirus pandemic during the first half of the year, said CEO Detlef Trefzger in a statement on Tuesday.

The Swiss company recorded a first-half, pretax profit of CHF 419 million ($449 million), down 18% from the same period last year.

“We took the right measures early on and...

https://s29755.pcdn.co/news/kuehne-nagel-uses-agile-structure-to-weather-1h-2020

FM Logistic’s operating income up 20%; future guidance withheld

French trucks on break

French-based third-party logistics provider FM Logistic on Wednesday reported 21% year-over-year growth in earnings before interest and taxes (EBIT) for its fiscal year ended March 31.

Operating income of 42.5 million euros (U.S. $47.8 million) was the result of only modest revenue growth of 8.7% at 1.43 billion euros (U.S. $1.61 billion). Excluding foreign exchange rates, revenue increased 8% during the year. Management said the increase came from “entirely organic” growth.

“FM Logistic again...

https://www.freightwaves.com/news/fm-logistics-operating-income-up-20-future-guidance-withheld

Surging South-east Asian flows a boost for operators like DB Schenker

For DB Schenker, Vietnam has been a strong market over the past year.
One factor in this was the repercussions of the trade conflict between the US and China, which accelerated the migration of manufacturing from the middle kingdom to neighbouring countries, noted Robert Reiter, chief executive of the South-east Asia Cluster of the logistics provider.
Vietnam has been a major beneficiary of the exodus from China: in the first 10 months …

The post Surging South-east Asian flows a boost for...

https://theloadstar.com/surging-south-east-asian-flows-a-boost-for-operators-like-db-schenker/

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