K+N takes a more conservative Q4 view than DSV-Panalpina, DP-DHL

China 2609 Corp - Forwarders 269 Earnings 496 Mode - Airfreight 166 Mode - Containerized 1277 Mode - Seaborne 1605 Quote Watch 265 U.S. 4649

K+N has reported Q3 revenues which fell by 3.9% year over year including a 12.8% drop in air freight due to “a slower than initially expected recovery of the aviation sector”. Similarly, ocean freight handling fell by 5.1% despite the freight forwarder experiencing improved shipping on Asia to North America lanes in Q3 versus Q2. U.S. seaborne imports handled by K+N climbed by 12.1% in September, suggesting a late recovery in the quarter, including a 17.9% surge in shipments from Asia ex China. The firm’s full year guidance for ocean freight of a 6% year over year drop implies a dip of 0...

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