GlobalTranz Enterprises, LLC, a leading third-party logistics solutions provider offering award-winning technology, people-powered customer service, and extensive multimodal carrier relationships, today reported first quarter 2021 earnings, posting gains in revenue, gross profit and EBITDA growth.
GlobalTranz reported 47 percent revenue growth, gross profit increase of 43 percent and 157 percent EBITDA growth compared to the same period last year. As shippers revaluate supply chain needs amid a rebounding economy, GlobalTranz’s managed transportation offering and e-commerce-based solutions have positioned the business for continued growth in 2021 and beyond.
“As one of the freight industry’s original disruptors, we’ve always made technology core to our business. Our investments have paid off as data and insights become increasingly necessary in a world full of disruption and uncertainty,” said Bob Farrell, CEO and Chairman of GlobalTranz. “While market tailwinds continue to help the industry overall, we anticipate continued organic growth in excess of the market fueled by the ongoing increase in our strategic relationships with shippers, carriers and our freight agent partners.”
In a recent survey of 200 supply chain leaders commissioned by GlobalTranz, respondents voiced their optimism around future supply chain performance, while noting sustained challenges in solving final mile problems, rising transportation costs and workforce demands. The findings point to supply chain decision makers leaning heavily on third party partners to manage current market conditions and challenges, with 91% of respondents agreeing that their 3PL partners will meet their needs in 2021.
A Market of “Unnatural Freight”
Ongoing supply chain disruption continued into Q1 as atypical spikes in consumer demand persisted due to e-commerce growth and the overall economy continued its return to pre-pandemic production levels. GlobalTranz has leveraged new offerings, such as its Final Mile and Pop-Up Fleet solutions, to meet new demands. At the same time, the company is driving multiple new technology innovation opportunities, such as its project with the MIT Center for Transportation & Logistics to pilot route optimization technology.
“There remains a lot of unnatural freight in the market right now, which has created a scenario where peak shipping levels have continued into the front half of the year,“ said Farrell. “We’re partnering closely with our customers to help them manage this new shipping environment, which we anticipate will have long-term impacts on supply chain planning.”