trading update

On the wires: Ceva Logistics slashes debt, makes money in Q3

“You need to spend time crawling alone through shadows to truly appreciate what it is to stand in the sun.” ― Shaun Hick
It’s party time at Ceva Logistics!
It was in the black in the third-quarter: $15m was the headline, adjusted number for the CMA CGM-owned 3PL’s bottom line ($8m unadjusted).
And there is more good news, according to its interim figures released late Friday: in the three months to the end of September revenues soared, …

The post On the wires: Ceva Logistics slashes debt, makes...

https://theloadstar.com/on-the-wires-ceva-logistics-slashes-debt-makes-money-in-q3/

Analysis: Shamelessly lucky Friday the 13th for Hapag-Lloyd

It takes about three minutes to get away with a fair assessment of Hapag-Lloyd’s nine-month results (9M ’20), which were released today – and that’s regardless of the preliminary guidance update from mid-October.
In his prepared remarks, Hapag-Lloyd (HLAG) CEO Rolf Habben Jansen today – the full interim report, 60 pages, is here – said that:
“We have achieved a good result and strictly managed our costs while (…) benefiting from improved market conditions in the …

The post Analysis: Shamelessly...

https://theloadstar.com/analysis-shamelessly-lucky-friday-the-13th-for-hapag-lloyd/

On the wires: ‘Monumental’ Mainfreight – healthy, all-organic & delicious

“Mainfreight is pleased to announce our half-year financial results to 30 September 2020 which are in line with the guidance issued in October, and a satisfactory improvement on the same period in the prior year.” – Mainfreight, 10 November 2020 (sourced from here; more here)
I was almost lost for words with New Zealand’s Mainfreight (MFT) after sifting through its interims – not even a sentence supplier helped out today, initially.
Then ‘monumental’ sprang to my …

The post On the wires:...

https://theloadstar.com/on-the-wires-monumental-mainfreight-healthy-all-organic-delicious/

Supply chain radar: ONE direction is no aberration

As per its peers, Japanese container line ONE recently delivered a very strong set of interim results, buoyed by what must surely count as the strangest peak season in living memory.
What is so particularly weird about it is how expectations have been so consistently defied, especially when taken in the context of the profound societal changes in the last six months.
Persistent sky-high container spot freight rates and a near-perfect match …

The post Supply chain radar: ONE direction is no...

https://theloadstar.com/supply-chain-radar-one-direction-is-no-aberration/

Analysis: Expeditors pats itself on the back. Short-sighted? Ask private equity…

Cash buybacks frozen, quarterly $0.52 dividends unchanged, as announced yesterday, but cash-rich Expeditors International (EXPD) is still on a roll at $87 a share. And then, operationally, this week confirmed that its balanced portfolio of logistics products gives it an edge in the good and bad times alike.
Immediate, useful context (maybe) here: the sharks, attracted to logistics in its multiple forms, are sniffing at opportunities, regardless of price.
Options
In Seattle, the …

The post Analysi...

https://theloadstar.com/analysis-expeditors-pats-itself-on-the-back-short-sighted-ask-private-equity/

Against the odds: ‘Better, not Bigger’ at UPS, just not yet

What’s not to like about a company that posts a 16% year-on-year jump in quarterly revenues?
Umm, better ask UPS investors.
The Atlanta-based integrator released Q3 2020 figures at 0830ET on Wednesday and by 0930, the stock was off almost 7%.
(Premium shameless self-promotion: you’d have been prepared if you had read our Halloween run-up coverage on the eve of the Q3 ’20 results)
The stock – look at the chart above and spare …

The post Against the odds: ‘Better, not Bigger’ at UPS, just not yet...

https://theloadstar.com/against-the-odds-better-not-bigger-at-ups-just-not-yet/

Analysis: CH Robinson in dire straits. Will the rope break?

If there is a tiny little scary consideration to be made on CH Robinson following its third-quarter (Q3 ’20) update released on Tuesday it’s that the 3PL, which is well known for financial discipline, didn’t manage to buck the trend of declining net revenues by accordingly and effectively adjusting its cost base in order to protect profits.
In a nutshell, whatever metrics should have grown in its portfolio didn’t, while all …

The post Analysis: CH Robinson in dire straits. Will the rope break?...

https://theloadstar.com/analysis-ch-robinson-in-dire-straits-will-the-rope-break/

On the wires: With surprise factor gone, stellar OOCL still sets the tone for all

Hong Kong’s Orient Overseas Container Line (OOCL) released a terrific, unaudited and preliminary operational update at the end of last week that bodes well for all the majors this earnings season, although the Q3 ’20 surprise factor for the carriers has long since vanished.
An excerpt is here below (emphasis in bold added), with stunning liftings figures standing out among a slew of outstanding metrics:
“For the third quarter ended 30th September …

The post On the wires: With surprise factor...

https://theloadstar.com/on-the-wires-with-surprise-factor-gone-stellar-oocl-still-sets-the-tone-for-all/

Analysis: Done kidding around – Kuehne takes a page out of DSV’s book

There is no denying that quarterly trading updates are currently the lesser evil in logistics, as the vertical consolidation game is significantly more attractive than short-term performance.
Even more so with Kuehne + Nagel, a bellwether 3PL for all in air and ocean freight and, to some extent, road and contract logistics (CL).
Value 
So let’s run a basic net present value calculation, and we immediately find that K+N may have nowhere to …

The post Analysis: Done kidding around – Kuehne takes a...

https://theloadstar.com/analysis-done-kidding-around-kuehne-takes-a-page-out-of-dsvs-book/

On the wires: Untangled Ceva Logistics – the cracks are well hidden

“CEVA Logistics’ turnaround plan is underway and in line with our expectations.” – Rodolphe Saadé, chairman and CEO of CMA CGM, 4 September 2020.
A narrowing material net loss was a major highlight for Ceva Logistics in the first half, yet its trading update was again transitional and more of the same in Q2 ’20, its headline numbers revealed on Friday. Underneath the surface, however, there’s lots going on at the 3PL… …

The post On the wires: Untangled Ceva Logistics – the cracks are well hidden

https://theloadstar.com/on-the-wires-untangled-ceva-logistics-the-cracks-are-well-hidden/

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.