Global logistician Agility has reported an increase in its third quarter revenues and a surge in net profit. However, cargo volumes fell. The company boosted its finances through higher yields and a strong contribution from its infrastructure businesses.
Chinese e-commerce heavyweight JD.com reports strong growth across its platform, a trend the company expects to continue.
India’s largest commercial ports operator, Adani Ports, reported a substantial increase in its company and port-segment revenues. Company and port-segment profits have also markedly increased.
The world’s largest retailer, Walmart, reports quarterly results ahead of expectations and raises its earnings outlook for fiscal 2020.
Revenues were down, costs were flat, profits were down. It was largely an unhappy first half financial year for Singapore Shipping.
Pan Ocean, a mixed-fleet ocean shipping carrier, reported a double-digit revenue decline but experienced a double digit surge in profits in the third quarter of 2019 when compared to the third quarter in 2018.
It’s a largely good set of third-quarter results for the Philippines-based but globally operating container terminal operator ICTSI. “Strong financial performance,” says President and Chairman Enrique K. Razon. On a nine-month basis, the growth surge is pronounced.
Radiant Logistics posts a good quarter, but warns that peak shipping season isn’t shaping up heading into the holidays.
Daseke, Inc. reports a large loss amid operational restructuring and weaker flatbed demand. The company announces new initiatives as its reorganization continues.
Ocean shipping terminal operator Westports of Port Klang, Malaysia, has reported a surge in third quarter revenues and a jump in profit before tax. Analysts are… less than impressed.
Singapore stock exchange-listed ship lessor First Ship Lease reported essentially flat revenues for the third quarter of 2019, but it also announced a swing back into profit. A combination of higher revenues and cost cutting delivered the positive result.
Demand headwinds for agricultural and transportation equipment were the factors behind Cervus Equipment’s operating loss in the third quarter of 2019.
Fuel card and business payments provider, FLEETCOR, reports increases in fuel and toll revenue. Management said that they are seeing general softness across all trucking markets, domestically and abroad.
Semi-trailer manufacturer Wabash National reported higher revenue and profits in the third quarter led by growth in its final mile and commercial trailer segments.
Roadrunner’s third quarter earnings report resembled a triage list indicating that the company’s restructuring path will be a bumpy one.
Titanium Transportation Group sees weaker trends in the quarter, but manages to post a modest profit.
Uber Freight sees loads more than double on a year-over-year basis, but the division’s losses increased as well. Investors will now likely mull over these results as the company’s stock lock-up expiration approaches.
U.S. Xpress cites a weaker spot market and compressed brokerage margins as reasons for the third quarter loss. However, the decision to grow its fleet, a portion of which is reliant on the spot market, drew several questions from analysts on its call.
With the bulk of its final mile business shuttered and its tractor fleet right-sized, management believes that the company is on solid footing to see improvement in 2020.
FreightCar America sees net loss more than double as it navigates the downside of railcar demand. The company’s cost restructuring remains on track.
