Net revenues increase 40% with a 120% increase in profitability
PHOENIX (October 23, 2018) — (BUSINESS WIRE) GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today reported a third-quarter revenue increase of 30 percent, net revenue increase of 40 percent and EBITDA growth of 120 percent year over year. GlobalTranz is on track to generate over $1.6 billion in revenue in 2018 and continues to outpace many of its competitors in customer expansion, financial growth, and advanced technology leadership.
Ongoing organic expansion of existing and new customers, growth in users of the company’s advanced end-to-end enterprise logistics platform and strong performance of transactional and managed transportation solutions drove the company’s third-quarter results.
“Q3 was exceptional for GlobalTranz as we continued to deliver a measurable impact for our customers. These results reflect GlobalTranz’s commitment to providing market-leading end-to-end logistics technology, sophisticated transportation solutions and an expansive network of high-quality capacity,” said Bob Farrell, chairman and CEO. “We continue to make strategic investments and developments in our technology capabilities and services that help our customers achieve competitive and operative advantages.”
“GlobalTranz continues to gain momentum as a leading logistics technology and 3PL provider, as evidenced by another strong quarter,” said Renee Krug, CFO. “We continue to focus on automation and process improvements resulting in significant advances in our ability to service and satisfy our diverse customer base. ”
Third Quarter Company Highlights
- Net revenue increase of 40 percent year over year
- Total profitability increase of 120 percent year over year
- Opened new downtown Minneapolis innovation facility
- Voted an Inbound Logistics Top 10 3PL provider for exceptional service, technology and ability to meet the needs of shippers and carriers.
- Closed new equity partnership with The Jordan Company, L.P. (TJC).
- Completed seven strategic acquisitions since 2017, expanding its footprint and capabilities with Chicago-based AFN Logistics, Greensboro-based SynchOne, LLC, Dallas-based AJR Transportation, Utah-based Apex Logistics, Richmond-based Worthington Logistics, Minneapolis-based Logistics Planning Services and Milwaukee-based Global Freight Source.
- Continuous advancement of TMS technology to provide customers end-to-end visibility, efficiency, integration, predictive analytics, and automated reporting of their shipments across any mode or geography.
The company remains confident that it will continue its strong growth throughout 2018. “We will continue to aggressively invest in industry-leading solutions as we strive for even higher levels of growth,” said Farrell, “We continue to increase our footprint through strong organic expansion and strategic mergers and acquisitions, which will continue to play a key role in our future growth.”
Ranked the 10th largest freight brokerage in the US by Transport Topics and voted an Inbound Logistics Top 10 3PL for 2018, GlobalTranz is driving strong growth with 25,000+ customers through technology innovation, a network of 34,000+ carriers, transformative M&A, creative products and superior customer service delivered by the best people in the industry.
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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 the 10th largest freight brokerage firm in the U.S. for 2018.