CMA CGM will carry on investing after 'solid' Q1, despite unclear outlook
CMA CGM’s shipping line was exactly in line with the average market growth in Q1, ...
WTC: RIDE THE WAVEFDX: TOP EXEC OUTPEP: TOP PERFORMER KO: STEADY YIELD AND KEY APPOINTMENTAAPL: SUPPLIER IPOCHRW: SLIGHTLY DOWNBEAT BUT UPSIDE REMAINSDHL: TOP PRIORITIESDHL: SPECULATIVE OCEAN TRADEDHL: CFO REMARKSPLD: BEATING ESTIMATESPLD: TRADING UPDATEBA: TRUMP TRADE
WTC: RIDE THE WAVEFDX: TOP EXEC OUTPEP: TOP PERFORMER KO: STEADY YIELD AND KEY APPOINTMENTAAPL: SUPPLIER IPOCHRW: SLIGHTLY DOWNBEAT BUT UPSIDE REMAINSDHL: TOP PRIORITIESDHL: SPECULATIVE OCEAN TRADEDHL: CFO REMARKSPLD: BEATING ESTIMATESPLD: TRADING UPDATEBA: TRUMP TRADE
Despite volume surges of 16% (air freight) and 7% (ocean freight), rate volatility saw Expeditors face a fall in operating income of 4% for the first three months of 2017, to $146m. First-quarter revenue increased 9% year-on-year to $1.5bn, but president and chief executive Jeffrey Musser said the dip in profitability was largely attributable to ongoing rate pressures.
“Over the long term, we expect this rate volatility to subside and that we will return to more historical pricing patterns,” added Mr Musser. “In the meantime, we continue to refine our processes and carefully execute against our strategy to position our company for further growth.”
Comment on this article