Ceva Profitability Slumps as Volume Growth Proves Expensive, Customer Fails — Panjiva
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Ceva Profitability Slumps as Volume Growth Proves Expensive, Customer Fails

Corp - Forwarders 157 Earnings 365 Global 722 Mode - Containerized 1005 Mode - Seaborne 1273

Ceva Logistics reported third quarter revenues that included a 6.3% increase in ocean freight handling. That expansion can be seen in U.S.-inbound volumes handled by its affiliate, Pyramid Lines, which grew by 7.1% in the three months to Oct. 31. A 14.6% surge in volumes from China was the main driver. Management are not concerned about the impact of tariffs, stating only 13% of volumes across air and ocean freight are affected by tariffs. Yet, the growth in volumes handled came at the expense of a 7.1% drop in average revenues per unit. As a consequence the group’s profitability (EBITDA...

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