Panjiva Research — Panjiva


Showing research about Earnings


CMA-CGM’s Rebound Illusory, Restructuring of Routes Necessary

CMA-CGM reported a strong rebound in profitability on face value in 1Q 2019, with an EBITDA margin of 10.5% compared to 4.1% a year earlier. Yet, excluding lease accounting and the acquisition of Ceva Logistics that margin dropped to 3.6% in 1Q 2019. By contrast, almost all other container lin... Read more →


Hapag Lloyd’s Success Not All It Seems, But Still Solid

Hapag-Lloyd reported 1Q 2019 revenues that surged 16.9% higher year over year. That was largely down to a strengthening dollar, excluding which the container-line’s revenues rose by 8.6%. The increase was driven by a 2.4% increase in volumes including transpacific volumes that fell by 1.... Read more →


Under Armour’s HOVR Can’t Stop Slippage in Sales, Imports

Under Armour reported 1Q 2019 revenues that included a 3.0% drop in revenues in North America as well as a 23.8% year over year decline in inventories. That’s consistent with a 34.6% year over year drop in its U.S. seaborne shipments in 1Q, which in turn was driven by a 40.0% slump in it... Read more →


CH Robinson Moves Fewer Boxes, Delivers Better Margins

CH Robinson reported a 4.4% year over year drop in revenues in 1Q 2019, the first decline since 3Q 2016 and below analysts’ expectations. Reduced pricing in the trucking business, lower airfreight volumes and unchanged ocean freight volumes were the main reasons for the slowdown. Notably... Read more →


DSV’s Quest for Scale Pays Off, Slowdown May Lie Ahead

Freight forwarder DSV reported 1Q 2019 revenue growth of 8.7% year over year, driven by airfreight volume growth of 10.4% and seafreight which increased by 6.5%. The latter has been largely driven by shipping through the Americas, with U.S. seaborne imports having climbed 15.6% year over year.... Read more →


K+N Volumes and Margins On The Up, UPS Heads Down

K+N and UPS provided a study in contrasts in their 1Q results. K+N’s revenues increased by 7.7% year over year including a 6.2% improvement in ocean freight volumes. UPS meanwhile saw growth of just 0.3% – the lowest since 3Q 2015 – including a 3.9% drop in international supp... Read more →


Panalpina Growth Parked Ahead of DSV Scale Push

Panalpina reported 5.0% year over year revenue growth in 1Q 2019, marking the slowest expansion by the freight forwarder since 1Q 2017. That’s largely been down to a 3.0% drop in ocean freight volumes due to a weak macroeconomic situation, according to CEO Stefan Karlen. The firm may have trie... Read more →


Cosco Shipping’s Rebound May Just Be A Bounce

Cosco Shipping reported a rebound in profitability in 4Q 2018 with an EBITDA margin of 10.2% from 2.4% a year earlier. That was the highest result since 3Q 2014 and was helped by a mixture of the inclusion of superior profitability from Orient Overseas as well as less aggressive competition fo... Read more →

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