{"id":442011,"date":"2021-02-23T09:03:34","date_gmt":"2021-02-23T14:03:34","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=442011"},"modified":"2021-02-23T09:03:34","modified_gmt":"2021-02-23T14:03:34","slug":"globaltranz-reports-40-percent-q4-revenue-growth","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/globaltranz-reports-40-percent-q4-revenue-growth\/","title":{"rendered":"GlobalTranz Reports 40 Percent Q4 Revenue Growth"},"content":{"rendered":"
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PHOENIX, Feb. 23, 2021 (GLOBE NEWSWIRE) — GlobalTranz Enterprises, LLC<\/a>, a leading third-party logistics solutions provider offering award-winning technology, people-powered customer service, and extensive multimodal carrier relationships, today reported fourth quarter 2020 earnings, posting gains in revenue, gross profit and EBITDA.<\/p>\n

GlobalTranz reported 40% growth in revenue, driven by the continued expansion of GlobalTranz\u2019s Managed Transportation Services and Final Mile Delivery offerings. Gross profit jumped 24%, as GlobalTranz\u2019s shipper customers reached out for transportation solutions during a peak season marked by historically high freight volumes. As a result, GlobalTranz posted strong EBITDA growth of 67%. Following GlobalTranz\u2019s strong finish in 2020, CEO Bob Farrell charted plans to reach $1.9 billion revenue in 2021.<\/p>\n

\u201cIn the last year, the global economy\u2019s reliance on logistics was unmistakable, as awareness of supply chain expanded from the board room into everyday conversations,\u201d said Bob Farrell, Chairman and CEO of GlobalTranz. \u201cBy working closely with our customers and carriers to solve extraordinary challenges created by the pandemic and changing consumer behavior, GlobalTranz posted a strong finish to 2020, and we are continuing that momentum into 2021.\u201d<\/p>\n

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As surging e-commerce and shifting consumer demand have placed unprecedented strains on supply chains, GlobalTranz launched new solutions to help shippers handle large shipment volumes and meet their customers\u2019 expectations. The company launched its Final Mile Offering<\/a> in July and Pop-up Fleet Solution<\/a> in August, which allowed its customers to identify alternative shipping capacity during the 2020 peak holiday season and as e-commerce continues to reshape the supply chain into 2021. Driven by these unique offerings, the company\u2019s Managed Transportation Solutions business unit grew its revenue by over 61 percent.<\/p>\n

\u201cThe freight industry has long operated as a cyclical business, but we\u2019re not relying on historical trends to hold in the post-COVID environment,\u201d said Farrell. \u201cWe are a technology company first, and it\u2019s through our technology platforms, access to capacity and creative solutions that we can provide unique customer value in the midst of the uncertainty of the current environment.\u201d<\/p>\n

Last mile deliveries handled through the GlobalTranz network doubled in the fourth quarter compared to the first quarter of 2020. With sustained demand for e-commerce services, GlobalTranz continues to invest in solutions to support on-time delivery and the customer delivery experience. The company expanded its doorstep delivery capabilities to provide the ability for shippers to reach consumers directly with cost efficient options. For the increasing demand for home delivery of big and bulky items like furniture and exercise equipment, the company expanded options for \u201cwhite glove\u201d services for in-home delivery and set up.<\/p>\n

GlobalTranz continues to invest in innovation and is rolling out the new GlobalTranz TMS to better serve the needs of shippers, carriers and GlobalTranz\u2019s independent freight agents. The GlobalTranz TMS platform provides improved visibility and predictive analytics to inform agile and accurate business decisions.<\/p>\n

GlobalTranz fourth quarter earnings close out a year of business milestones and momentum:<\/p>\n