Panjiva Research

FedEx’s wins and loses from COVID-19; seaborne shipping downturn slows

July 1, 2020

FedEx reported fiscal Q4 revenues which fell by 2.5% year over year. That included a bifurcation between e-commerce exposed package delivery which rose by 20.2% while industrially-exposed freight fell by 17.4% due to COVID-19. Freight handling dropped by 19.2% year over year in FQ4, to May 31,... Read more →

DSV Panalpina joins Maersk in less gloomy view, saved by Vestas, Estee Lauder

June 25, 2020

DSV-Panalpina has joined Maersk in flagging that logistics industry conditions in Q2 have “developed better than expected” while still expecting a drop in global sea freight of 15% to 20% year over year in Q2 due to COVID-19. Panjiva’s U.S. seaborne import data shows a decline of 11.7% year ov... Read more →

FedEx delay, writedown highlights COVID-19 challenges in logistics

June 24, 2020

FedEx has delayed the reporting of its fiscal fourth quarter results by a week, and announced that they will be writing down the acquisition of Kinko’s. That’s likely impacted by the lack of demand for office services during the COVID-19 shutdown. Other companies may delay their forthcoming ea... Read more →

CMA CGM expects tougher Q2, India and Europe contribute to woes

June 9, 2020

Container-line CMA-CGM has followed many of its peers in reporting a drop in volumes handled in Q1’20. The firm expects the decline of 4.6% in Q1 to become a “decline (of) about 10% over the first half of the year”. The start of Q2 has certainly been more challenging than Q1. Panjiva’s data sh... Read more →

Costco cuts back in face of COVID-19, cutting overstocking risk

June 3, 2020

Costco Wholesale reported an 8.0% increase in underlying sales in the U.S. in the fiscal quarter to May 10. The firm has faced supply chain challenges in meeting that growth however. The firm’s CFO, Richard Galanti, has noted that non-food imports from China are improving as “most of the facto... Read more →

ZIM set to address finance, faces tough start to Q2 on Canada-U.S. lanes

May 29, 2020

ZIM Shipping reported a 3.4% expansion in revenues for Q1 as the container-line balanced a 4.5% drop in volumes handled against an improvement in shipping rates. Like other shipping firms, ZIM faces a volatile outlook and is having to address financing. The firm will “expand its potential liqu... Read more →

Under Armour’s inventories surge as COVID-19 hits both demand and supply

May 13, 2020

Under Armour has reported a 23% year over year drop in revenues in Q1, with the apparel retailer’s CEO, Patrik Fisk stating “not only are there meaningful shifts in demand, but we’re also seeing significant swings in supply due to factory closures” due to COVID-19. The firm expects Q2 revenues... Read more →

Matson hopes faster means better as COVID-19 overshadows outlook

May 7, 2020

Container shipping firm Matson reported revenues which declined by 3.5% year over year in Q1 as a collapse in logistics brokerage revenues was offset by growth in container handling on routes from Hawaii and Alaska. Continued growth in the latter two will be crimped by reduced tourism and lowe... Read more →

DSV-Panalpina slashes costs, won’t chase volumes as COVID-19 bites

May 1, 2020

DSV-Panalpina has reported operating profit growth of 7.6% year over year in Q1. That’s come despite a drag from the impact of COVID-19 on profits equivalent to $51 million or 17.2% points of last year’s profits. The firm has stated it expects “volumes will be significantly impacted in Q2-20” ... Read more →

C.H. Robinson beating peers in April after tough Q1 for U.S., global logistics

April 30, 2020

C.H. Robinson reported a 16.3% year over year drop in net revenues in Q1, largely due to a downturn in its trucking business. Revenues in global forwarding fell due to a 2.3% slide in ocean freight shipments and an 8.0% slump in airfreight handled. The slide in airfreight isn’t a surprise give... Read more →

Showing research about Earnings