• ITVI.USA
    13,809.570
    -6.010
    0%
  • OTRI.USA
    21.480
    0.000
    0%
  • OTVI.USA
    13,784.050
    -7.950
    -0.1%
  • TLT.USA
    2.810
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.480
    -0.170
    -6.4%
  • TSTOPVRPM.CHIATL
    3.070
    -0.210
    -6.4%
  • TSTOPVRPM.DALLAX
    1.370
    -0.090
    -6.2%
  • TSTOPVRPM.LAXDAL
    2.280
    -0.210
    -8.4%
  • TSTOPVRPM.PHLCHI
    1.900
    -0.070
    -3.6%
  • TSTOPVRPM.LAXSEA
    2.720
    -0.270
    -9%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    13,809.570
    -6.010
    0%
  • OTRI.USA
    21.480
    0.000
    0%
  • OTVI.USA
    13,784.050
    -7.950
    -0.1%
  • TLT.USA
    2.810
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.480
    -0.170
    -6.4%
  • TSTOPVRPM.CHIATL
    3.070
    -0.210
    -6.4%
  • TSTOPVRPM.DALLAX
    1.370
    -0.090
    -6.2%
  • TSTOPVRPM.LAXDAL
    2.280
    -0.210
    -8.4%
  • TSTOPVRPM.PHLCHI
    1.900
    -0.070
    -3.6%
  • TSTOPVRPM.LAXSEA
    2.720
    -0.270
    -9%
  • WAIT.USA
    127.000
    0.000
    0%
BusinessCanadaCompany earningsInternationalNews

Descartes Systems profits surge 37% in Q3

Canadian supply chain software provider beats analysts’ estimates

Descartes Systems Group (NASDAQ:DXSG) reported a 37% jump in third-quarter net income on Wednesday as the Canadian supply chain software provider squeezed more profits from a more modest 5% increase in revenue compared to a year ago. 

The Waterloo, Ontario-based firm beat analysts’ estimates by bringing in $13.3 million, or 15 cents per share, on a record $85.5 million in revenue. Analysts expected net income of 14 cents per share on 85.9 million in revenue, according to Benzinga.  

“Supply chains and logistics have never been more visible, relevant or important than in today’s market,” Descartes CEO Edward Ryan said in a statement. “Every day, our customers are faced with new challenges and opportunities as they navigate uncertain and dynamic trading conditions.

Descartes, which reports in U.S. dollars, has been bringing down costs through a global restructuring effort. At the same time, the company is continuing to pursue growth through acquisitions. 

In November, the company acquired ShipTrack for $19.1 million up front, with an additional $19.1 million contingent on meeting performance targets. ShipTrack’s cloud-based logistics platform strengthens Descartes’ offerings for e-commerce and medical logistics providers. 

Ryan will discuss the results with analysts later in the day.

Click for more FreightWaves articles by Nate Tabak

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Nate Tabak, Border and North America Correspondent

Nate Tabak is a Toronto-based journalist who covers cross-border trucking, logistics and trade for FreightWaves. Before moving to Canada, he spent seven years reporting stories in the Balkans and Eastern Europe as a reporter, producer and editor based in Kosovo. He previously worked at newspapers in the San Francisco Bay Area, including the San Jose Mercury News. He graduated from UC Berkeley, where he studied the history of American policing. Contact Nate at ntabak@freightwaves.com.