GlobalTranz And Echo Global Logistics Both Report 40 Percent Fourth Quarter Revenue Growth
- Date: 27-Feb-2021
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
GlobalTranz And Echo Global Logistics Both Report 40 Percent Fourth Quarter Revenue Growth
Bob Farrell, Chairman and CEO of GlobalTranz GlobalTranz, a logistics service provider, put out a press release on February 23rd where they mentioned that they had achieved 40% growth in revenue, fourth quarter of 2020 compared to the fourth quarter of 2019. GlobalTranz's main service lines are freight brokerage - less-than-truckload and truckload - and managed transportation services. As such their closest peers who report their earnings are C. H. Robinson and Echo Global Logistics. Echo's revenues increased 41. 9%. That makes C. H. Robinson's last quarter earnings in North American Surface Transportation, up 10. 8 percent - which many companies would be delighted with - seem paltry in comparison. But two of the leaders, Echo and GlobalTranz, had revenues that increased by 40% or more! What the heck is going on in this freight brokerage/managed transportation sector? It might be worth starting by defining terms. A broker is a third party that finds customers a product or service they are looking for and takes a fee for this service. A truck broker helps companies find trucks to carry their freight on lanes they are having difficulty covering. A managed transportation service provider, "managed trans" for short, uses transportation management