EnUPS and C.H. Robinson have both delivered revenue growth above analysts’ estimates for Q3 as global shipping surges during the industrial rebound following COVID-19 lockdowns. UPS’s revenues climbed by 15.9% year over year while analysts had expected an 11.0% rise. U.S. seaborne imports linked to the firm surged late in the quarter with a 15.6% rise in September after single digit growth earlier in the quarter. C.H. Robinson meanwhile grew revenues by 9.8% versus analyst’s estimates of a 1.8% increase in Q3. CEO Bob Biesterfeld noted that “freight markets are continuing to tighten in the...
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