UPS forwarding surges ahead with autos, healthcare driving growth — Panjiva
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UPS forwarding surges ahead with autos, healthcare driving growth

Corp - Forwarders 347 Earnings 759 Mode - Containerized 1525 Mode - Seaborne 1846 U.S. 5404

Logistics provider UPS has reported a 21.0% year over year increase in revenues for Q4’20, beating analysts expectations by 9.0 percentage points. Outside the core package business there was a 40.1% surge in forwarding revenues, accelerating from 19.1% growth in Q3’20. The expansion is industry-wide, with C.H. Robinson’s forwarding revenues have increased by 71.7% in Q4’20. UPS doesn’t provide an outlook given “continued economic uncertainty due to the global pandemic” though the firm’s CFO, Brian Newman, has indicated growth in healthca...

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