K+N and Panalpina Show There’s More Than One Way to Deliver — Panjiva
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K+N and Panalpina Show There’s More Than One Way to Deliver

Corp - Forwarders 157 Earnings 365 Global 722 Mode - Airfreight 131 Mode - Seaborne 1273

K+N reported revenue growth of 15% on a year earlier in 2Q, reaching a record high, after beating analysts’ expectations by 7% points. That was due to a surge in the freight forwarder’s handling, including an 11% rise in ocean freight volumes in 2Q vs. a market increase of just 4%. That markedly outperformed its peer Panalpina which fell 1%, illustrating K+N’s volume-driven approach to profit growth vs. Panalpina’s margin-driven route. For example on U.S.-inbound seaborne routes K+N’s volumes rose 8% in 2Q vs. Panalpina’s 4%. While K+N’s profits (EBITDA) were 1% better than expected in a...

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