US logistics players expand to boost their cross-border reach into Mexico
US surface logistics providers are expanding their reach across the southern border. Class I rail carriers ...
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FREIGHTWAVES reports:
Uber Freight posted its eighth consecutive quarter of negative earnings before interest, taxes, depreciation and amortization, and its third-largest since the digital brokerage’s fourth-quarter 2021 integration with shipper-focused transportation management system Transplace.
EBITDA at Uber Freight (parent company is NYSE: UBER) was negative $19 million for the third quarter. Since the closing of the Transplace deal and its integration into one company, only twice has Uber Freight posted a larger negative EBITDA: negative $21 million in the first quarter of this year and negative $23 million in the first quarter of 2023.
EBITDA a year ago was negative $13 million. Uber Freight has only posted a positive EBITDA three times since the integration, spread out over the first three quarters of 2022: $2 million, $5 million and $1 million, respectively…
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