Supply Chain Solutions division ensures a solid Q1 for Ryder
A 276.5% y-o-y growth in operating profit for the SCS division of Ryder Transportation Systems helped offset an overall 43.3% first quarter drop in earnings to US $114m.
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A 276.5% y-o-y growth in operating profit for the SCS division of Ryder Transportation Systems helped offset an overall 43.3% first quarter drop in earnings to US $114m.
Wincanton announced that it is set to acquire Invar Group Limited (Invar), a UK-based specialist in warehouse execution software, automation and controls.
French state owned railway operator SNCF reported a 0.8% y-o-y growth in revenue to €41,760m with a 2.7% EBITDA fall to €6,435m.
Two sets of European regulations are set to put zero emission truck (ZET) sales into overdrive in the coming years.
French state-controlled Le Groupe La Poste saw operating profit grow 19.0% y-o-y to €2,134m in the year ending 31 December 2023.
Amidst year long plummeting sea and air freight volumes, global freight forwarder Expeditors reported operating income for the full year 2023 down 48% y-o-y to US $940m on revenues that fell by 46% to $9,300m. Announcing further job cuts, its CEO Jeffrey S Musser said, “If I had to use one word to describe the fourth quarter and all of 2023 it would be ‘uncertainty’.
The acquisition is part of Gebrüder Weiss’ objectives for continuing growth in North America, which include expanding its LCL services in the Air & Sea segment.
Alibaba Group’s Cainiao Smart Logistics Network has generated a profit in the three months to December 2023.
European and US trucking giant XPO has achieved creditable results despite the economic headwinds in North America and Europe.
The Danish government’s ending of the universal service obligation (USO) with PostNord and inflation hampered its profitability over 2023.
US trucking and intermodal giant Landstar Systems felt the headwinds of the US road freight recession in 2023 with a 39.7% y-o-y operating income fall to US $344.1m on a revenue drop of 28.7% to $5,303.3m.
Where the last year has shown a significant drop in revenues and profits for global container shipping line Hapag Lloyd, its short to medium term plans signal a strategic plan to avoid such dips in the future.