GlobalTranz And Echo Global Logistics Both Report 40 Percent Fourth Quarter Revenue Growth

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