Conference call redux Archives - The Loadstar

Conf call redux: Stunning XPO – ‘the cycle of all cycles…’

Gavin van Marle — Thu, 31 Oct 2024 12:38:50 +0000

Premium editor Alessandro Pasetti is someone who talks a lot. He’s Italian; it’s a cultural thing, so I’m told. And he just loves numbers and all-things balance sheet but even he came off XPO’s 3Q earnings call looking slightly ashen faced: “Those guys… jeez, it was too much. They are good but keep talking… and talking…”
This is our DeskOne snapshot coverage during the call (click to expand the table below):
It ...

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Conf call redux: Ryder – where are we in ‘the cycle thing’?

Gavin van Marle — Tue, 29 Oct 2024 12:41:34 +0000

“I watched their investors’ day; I’ve listened to most earnings calls since Covid and these guys are without doubt the stand-out asset-heavy player listed on the NYSE in the transport & logistics sector.”
Words of praise indeed from none other than Premium head Alessandro Pasetti, and last week’s 3Q earnings call was another consummate lesson from Ryder System (R) in how to steady a listing ship and sail it through a ...

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Conf call redux: DSV – ‘the logic still applies’

Gavin van Marle — Thu, 24 Oct 2024 11:42:46 +0000

Danish freight forwarder DSV, flushed with success after winning the bidding war for DB Schenker, held its third-quarter call with analysts yesterday in which chief executive Jens Lund and CFO Michael Ebbe did a deep dive into some fat numbers.
What follow is in no way a verbatim transcript of that call…
Jens Lund: Thank you operator and welcome one and all to our Q3 highlights – we’ve got the usual business ...

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Conf call redux: DSV – the numbers tell you all you need to know

Gavin van Marle — Thu, 25 Jul 2024 11:51:42 +0000

When, oh when are these surging container spot freight rates going to make themselves apparent in freight forwarders accounts?
Yesterday it was the turn of DSV CEO Jens Lund and (sort-of) recently installed CFO Michael Ebbe to take analysts through the last three, tumultuous months…
What follows is, as ever, not a verbatim transcript of that call…
Jens Lund: Morning all. So, I’m a numbers guy, you’re all numbers guys. Let’s do some ...

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Conf call redux: Pure play+ Hapag-Lloyd surprised, cautious and…

Gavin van Marle — Mon, 20 May 2024 11:54:19 +0000

Wind the clock back a few weeks, if you can remember which phase of insanity the shipping market was passing through*, and only a madman would have predicted that come the first quarter earnings season analysts would be asking themselves why management teams weren’t raising their full-year profit forecasts.
(*Hint: it was the one where shipping lines were staring down the barrel of the metaphorical gun in the shape of massive ...

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Conf call redux: M&A-prone GXO Logistics buzzing

Gavin van Marle — Mon, 13 May 2024 11:40:28 +0000

GXO Logistics is a one of a kind. In the pure-play contract logistics operator (PPCLO – ™Loadstar Premium) sector it’s the Big Kahuna, second in size only to DHL Supply Chain in the wider contract logistics field, and with a deal pedigree that comes from its origins in Brad Jacobs’ M&A-built XPO Logistics.
With the takeover of UK-based Wincanton recently completed, GXO last week released first quarter earnings that barely moved ...

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Conf call redux: XPO the best of the lot – by a wide margin

Gavin van Marle — Thu, 09 May 2024 10:53:50 +0000

It’s generally been a rotten earnings season for North American less-than-truckload (LTL) players.
(BLOODBATH! DeskOne called it at one point at the end of April, one excerpt here: “Its worst week in recent memory in the wake of results from Old Dominion and Saia – the latter clocked -21% on 26 April, after sector benchmark Old Dominion had already shed over 10% two days earlier”).
And so, as analysts digested XPO Logistics’ ...

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Conf call redux: Mærsk has a plan, folks…

Gavin van Marle — Fri, 03 May 2024 10:42:56 +0000

Back in the day, AP Møller-Mærsk used to roll out half the executive team for its earnings calls, with each divisional head getting his/her five minutes in the limelight to review their section.
Fast forward to more recent calls from the Søren Skou era and then also this week, however, and we were treated to the CEO Vincent Clerc and CFO Patrick Jany double act – one advantage of the integrator ...

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Conf call redux: does Kuehne + Nagel know its toys from its teus?

Gavin van Marle — Thu, 25 Apr 2024 12:41:34 +0000

“Stable, moderate, modest… it all panned out pretty much as we expected…” the party line at Kuehne + Nagel’s HQ in a Swiss village with the dyslexia-inducing name of Schindellegi was, in a word, phlegmatic.
Chief executive Stefan Paul has adopted a curious way of pronouncing teu – rather than spell it out in three separate letters T E U, as most do, or employ the also commonly used “tooey”, he ...

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Conf call redux: Peeling onions at GXO Logistics

Mike Weir — Fri, 05 Nov 2021 10:45:26 +0000

When is a start-up not a start-up from a stock market perspective?
When it’s GXO Logistics, which spun off from XPO Logistics in August and just posted its first quarterly results as an independent company.
Afterwards, the analysts duly dialled in to chat with management and seemed mainly interested in labour shortages and margins, or the lack of them.
Management initially side-stepped questions on both topics but eventually relented after one analyst plumbed ...

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