K+N’s Tough End to 2018 May Need More Than a Cost Cutting Fix — Panjiva


K+N’s Tough End to 2018 May Need More Than a Cost Cutting Fix

Corp - Forwarders 157 Earnings 365 Global 722 Mode - Airfreight 131 Mode - Containerized 1005 Mode - Seaborne 1273

K+N has reported 4Q revenues that rose by 6.8% year over year, the slowest rate in two years. That was likely due in part to a drop in air freight volumes as well as a 3.3% decline in achieved revenues per unit in seafreight. The firm blames weakness in European trade routes for the slowdown, which can be seen in a 1.8% year over year drop in its Europe-to-U.S. ocean freight operations. There’s been a turnaround in January, with a 6.5% increase, though that has lagged the market average 15.2% rise. Slower growth hasn’t helped profitability with the firm’s EBITDA margin dropping to its lo...

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