K+N Shows Growth Is Easy, Profitability Less So as Margins Hit 2014 Low — Panjiva


K+N Shows Growth Is Easy, Profitability Less So as Margins Hit 2014 Low

Corp - Forwarders 157 Earnings 365 Global 722

Freight forwarder K+N reported 3Q revenues growth of 12.4%, well above the 8.7% rate expected by analysts and representing the fifth straight quarter of double digit growth. A 10% surge in ocean volumes was well above the 8% of the first half. That in turn was likely driven by trade outside the China-U.S. route where volumes actually fell by 5%. The additional growth has come at the cost of profitability, however, with the group’s EBITDA margin having fallen to 5.6% from 6.1% a year earlier. A potential downturn in volumes for the fourth quarter, due to the U.S.-China trade war, leaves t...

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