Revenues increase 43% with a 118% increase in profitability
PHOENIX--(BUSINESS WIRE)--GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today reported a first-quarter revenue increase of 43 percent and earnings growth of 118 percent year over year. GlobalTranz continues to outpace many of its competitors in the industry through customer expansion, financial growth and technology leadership.
The company continued its technology leadership with the release of its next generation TMS technology. This includes additional features and benefits for shippers, carriers and the company’s independent freight agents. Among these are new capabilities around data analysis, predictive analytics, AI, machine learning and actionable reporting. The company’s new platform is completely multimodal, multivendor, and multicurrency, and fully supports all mobile environments.
“As logistics increasingly becomes digitized, GlobalTranz is pioneering the use of new technologies to create efficiencies in supply chain operations,” said Greg Carter, CTO. “Our TMS platform is driving breakthrough innovation in digital freight matching, capacity sourcing, real-time visibility and predictive analytics. We’re enabling businesses to simplify their logistics management, uncover valuable insights, and make data-driven decisions that drive cost savings and operational transformation while creating competitive advantages.”
Commenting on the company’s record first-quarter results, Bob Farrell, chairman and CEO, said, “Our strong Q1 performance was the result of our continued focus on expanding our relationships with existing customers and winning new customers with advanced technology and products. We are excited to see our customer relationships become more strategic and focused on making logistics an integrated and differentiated part of their businesses.”
Company highlights for the first quarter of 2018 include:
- Total revenue gains of 43 percent year over year
- Total profitability increase of 118 percent over last year
- Managed transportation freight under management growth of 33 percent
- Released next generation multimodal, multivendor, multicurrency and fully mobile TMS technology featuring new data analysis, predictive analytics, machine learning and actionable reporting capabilities
- Hosted a record number of attendees at the 2018 Freight Agent Conference
- CFO Renee Krug named 2018 Distinguished Woman in Logistics by Women in Trucking Association
Additionally, GlobalTranz was named among the Top 10 Freight Brokerages in the U.S. by Transport Topics in April.
“Our rapidly growing managed transportation offering is allowing us to move up the value curve with our customers,” said Renee Krug, CFO. “Our commitment to building solutions that position our customers for market-leading growth is driving our financial performance.”
The company remains confident that it will continue its strong growth throughout 2018. “Both our freight agent and direct sales channels continue to demonstrate proven industry leadership. Our people and partners are the best in the industry, which is driving our success,” said Farrell. “Execution of strategic mergers and acquisitions will add to our current run rate of over $1 billion in revenue.”
For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.
GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S. for 2018.