PHOENIX, April 29, 2021 (GLOBE NEWSWIRE) -- 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.”
GlobalTranz recently was recognized by Transport Topics as the ninth largest Freight Brokerage and ranked 27 on its annual listing of Top 50 Logistics Companies. In Q1, Supply & Demand Chain Executive recognized Chief Technology Officer Russ Felker and Director of Customer Solutions Karen Tyndall as 2021 Pros to Know, along with the full GlobalTranz Customer Solutions team. GlobalTranz leadership received additional recognition as Vice President of Enterprise Solutions JJ Lewis was named to the 2021 Rock Stars of the Supply Chain by Food Logistics for driving momentum within the company’s food and beverage business.
About GlobalTranz
GlobalTranz is a full-service third-party logistics provider, bringing award-winning customer service, exceptional industry expertise and market-leading technology to shippers, carriers, and logistics service providers (LSP). GlobalTranz’s people-powered approach combined with comprehensive, relationship-driven support provides shippers of all sizes with fast and reliable, multi-modal transportation services as well as strategic supply chain solutions – enabling them to optimize efficiency and deliver on business goals. Leveraging its extensive independent agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 1 million product users and 25,000 shippers. In 2021, Transport Topics named GlobalTranz #9 on their list of Top 10 largest freight brokerage firms in the U.S., and in 2020, Inbound Logistics ranked GlobalTranz #4 on their list of Top 10 3PL Providers.
MEDIA CONTACT:
Annie Graupner
Senior Marketing Manager
612.229.4040
annie.graupner@globaltranz.com