PHOENIX, Feb. 23, 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 fourth quarter 2020 earnings, posting gains in revenue, gross profit and EBITDA.
GlobalTranz reported 40% growth in revenue, driven by the continued expansion of GlobalTranz’s Managed Transportation Services and Final Mile Delivery offerings. Gross profit jumped 24%, as GlobalTranz’s 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’s strong finish in 2020, CEO Bob Farrell charted plans to reach $1.9 billion revenue in 2021.
“In the last year, the global economy’s reliance on logistics was unmistakable, as awareness of supply chain expanded from the board room into everyday conversations,” said Bob Farrell, Chairman and CEO of GlobalTranz. “By 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.”
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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’ expectations. The company launched its Final Mile Offering in July and Pop-up Fleet Solution 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’s Managed Transportation Solutions business unit grew its revenue by over 61 percent.
“The freight industry has long operated as a cyclical business, but we’re not relying on historical trends to hold in the post-COVID environment,” said Farrell. “We are a technology company first, and it’s 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.”
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 “white glove” services for in-home delivery and set up.
GlobalTranz continues to invest in innovation and is rolling out the new GlobalTranz TMS to better serve the needs of shippers, carriers and GlobalTranz’s independent freight agents. The GlobalTranz TMS platform provides improved visibility and predictive analytics to inform agile and accurate business decisions.
GlobalTranz fourth quarter earnings close out a year of business milestones and momentum:
Completed the acquisition of Cerasis, a technology and data empowered managed transportation provider with expertise in final mile delivery and reverse logistics. Cerasis represents GlobalTranz’s 11th acquisition since 2017.
Launched new solutions and technology offerings, including a new Mobile App for Carriers and Agents as well as the Pop Up Fleet, Final Mile and Doorstep Delivery solutions.
Recognized as an Inbound Logistics Top 10 3PL for the third consecutive year.
Received awards for its technology solutions, including recognition as a FreightTech 100 Winner and a Food Logistics Top 100 Software and Technology Provider.
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 2020, Transport Topics named GlobalTranz #9 on their list of Top 10 largest freight brokerage firms in the U.S.
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