UPS forwarding surges ahead with autos, healthcare driving growth — Panjiva
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UPS forwarding surges ahead with autos, healthcare driving growth

Corp - Forwarders 344 Earnings 743 Mode - Containerized 1489 Mode - Seaborne 1818 U.S. 5347

Logistics provider UPS has reported a 21.0% year over year increase in revenues for Q4’20, beating analysts expectations by 9.0 percentage points. Outside the core package business there was a 40.1% surge in forwarding revenues, accelerating from 19.1% growth in Q3’20. The expansion is industry-wide, with C.H. Robinson’s forwarding revenues have increased by 71.7% in Q4’20. UPS doesn’t provide an outlook given “continued economic uncertainty due to the global pandemic” though the firm’s CFO, Brian Newman, has indicated growth in healthcare and autos have been significant contributors. U....

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