financial results Archives - The Loadstar

‘Strong’ Q3 for Maersk as it prepares for alliance launch – but no bid for GXO

Alex Lennane — Thu, 31 Oct 2024 13:31:07 +0000

Maersk has ruled out bidding for GXO, as it revealed strong Q3 earnings this morning. It also predicted little to no disruption for customers as it rolls out the Gemini network next year.
The group finished the quarter (see charts below for more detail) with ebitda of $4.8bn and ebit of $3.3bn, “which on a year-to-date basis, puts us more or less on the same level as last year”, said CEO ...

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Lufthansa Cargo adds capacity as Asia Pacific ecommerce boosts revenue

Alex Lennane — Wed, 30 Oct 2024 11:58:15 +0000

A focus on Asia Pacific helped boost Lufthansa Cargo’s nine-month revenues, although ebit fell significantly.
While overall capacity was up 8% year on year in the nine months to September, the group has added some 13% capacity to Asia Pacific.
And this week, the carrier announced its first direct transpacific flight, from Ho Chi Minh to Los Angeles, via its AeroLogic subsidiary. It now has 50 frequencies to 17 destinations in Asia.
“The ...

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Using Amazon Air services ‘a win-win’ for ‘absolutely satisfied’ K+N

Alex Lennane — Thu, 24 Oct 2024 11:41:35 +0000

Amazon Air has received a ringing endorsement for its airfreight services from Kuehne + Nagel (K+N), after it opened its capacity to third parties.
In the Swiss forwarder’s Q3 earnings call yesterday, CEO Stefan Paul revealed that K+N’s Asian subsidiary, Apex, which focuses on the transpacific and intra-Asia with an emphasis on ecommerce fulfilment, is using Amazon aircraft.
“I have to say we are absolutely satisfied with the service offered by Amazon ...

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Boeing’s turnaround plan hits a hurdle as machinists vote to continue strike

Ian Putzger Americas correspondent — Thu, 24 Oct 2024 10:31:33 +0000

Boeing’s travails continue as its machinists voted to continue a strike that has hobbled aircraft production and aggravated the company’s financial woes since 13 September.
The strikers have rejected a 35% wage hike offer by management a few days ago.
Nearly two-thirds (64%) of the 33,000 members of the International Association of Machinists and Aerospace Workers, districts 751 and W24, who voted rejected the proposal. While some called it a step in ...

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FedEx bets on rate hikes being accepted, despite tough market headwinds

Ian Putzger Americas correspondent — Fri, 20 Sep 2024 10:21:07 +0000

Soft market conditions blunted FedEx’s first-quarter results, but management is confident that its rate increases will get traction.
The integrator has announced a general rate increase (GRI) of 5.9% for the coming year, which will kick in on 6 January.
In addition, as usual, it is raising surcharges, which pushes cost increases for shippers well above 5.9% – but there is usually room for negotiated discounts.
However, market conditions do not look favourable ...

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Expeditors ‘adapted well in an erratic quarter’ – but earnings disappoint

Charlotte Goldstone — Wed, 07 Aug 2024 11:14:20 +0000

Expeditors’ Q2 results will have left investors disappointed, with softer-than-expected earnings and a “still-heavy” cost base, but revenues remain solid.
Year on year, the forwarder’s revenues increased 9%, to $2.4bn, but operating income fell 10%, to $224m.
President and CEO Jeffery Musser said it had been “another erratic quarter” for the industry, but Expeditors had “continued to adapt well”.
He highlighted disruption, such as rapid changes and imbalances in buy ...

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US mega-airlines grow cargo volumes, but miss out on ecommerce boom

Alex Lennane — Fri, 26 Jul 2024 10:40:53 +0000

The three US mega-airlines – Delta, United and American – expanded their cargo traffic in the second quarter, but they only got a nibble at the rising volumes of ecommerce flowing out of China to their home turf.
The airlines performed well overall in the quarter, with Delta and American posting record revenues, and while all three saw gains in cargo ton-km (CTK), only Delta and United saw growth in freight ...

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Bolloré bounce boosts CMA CGM Q2 revenues, but job worries persist

Alex Lennane — Thu, 25 Jul 2024 16:35:36 +0000

CMA CGM Group has announced a “robust performance” in the second quarter, with revenues up 6.8%, to $13.1bn. But insiders say not all is well in parts of the group.
Ebitda was down 4.3% to $2.47bn, while net income fell $670m to $661m.
The group said the revenue rise was in part driven by logistics, which was bolstered by the Bolloré Logistics integration.
Shipping volumes were up 6.8% to 6m teus. The group ...

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DB chief praises Schenker H1 performance amid group’s poor results

Alex Lennane — Thu, 25 Jul 2024 13:02:43 +0000

DB Schenker has again propped up parent Deutsche Bahn’s poor half-year results, despite falling rates.
Sales at DB Schenker fell 6.6%, to €9.4bn ($10.2bn), Ebitda fell 10.2%, to €908m, while Ebit fell nearly 17%. to €520m. Schenker accounted for 42% of DB’s total sales.
DB said the process of selling Schenker was continuing, but added: “A sale only takes place if it is economically advantageous for the DB group.”
Only two bidders now ...

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UPS Mexico takeover overshadowed by poor Q2 results

Alex Lennane — Wed, 24 Jul 2024 10:26:19 +0000

UPS is taking over its partner in Mexico, pointing to strong potential in nearshoring and cross-border flows. However, the news could not compensate for disappointing Q2 results, which sent UPS stock down sharply.
Estafeta, a privately owned logistics integrator offering parcel, logistics and supply chain solutions on a domestic network of 145 facilities and over 750,000 sq metres of infrastructure serving 95% of the nation’s population, also runs an air network ...

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