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UPS, C.H. Robinson beat estimates after late surge in shipping volumes

China 2600 Corp - Forwarders 266 Corp - Shipping 810 Earnings 489 European Union 658 Mode - Containerized 1269 Mode - Seaborne 1599 Quote Watch 259 U.S. 4626

UPS and C.H. Robinson have both delivered revenue growth above analysts’ estimates for Q3 as global shipping surges during the industrial rebound following COVID-19 lockdowns. UPS’s revenues climbed by 15.9% year over year while analysts had expected an 11.0% rise. U.S. seaborne imports linked to the firm surged late in the quarter with a 15.6% rise in September after single digit growth earlier in the quarter. C.H. Robinson meanwhile grew revenues by 9.8% versus analyst’s estimates of a 1.8% increase in Q3. CEO Bob Biesterfeld noted that “freight markets are continuing to tighten in the...

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