PHOENIX--(BUSINESS WIRE)-- GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today reported third quarter revenues increased 42% and earnings grew 70% year over year, outpacing many competitors in the industry.
The company’s ongoing success is attributed to organic growth, strategic acquisitions, exceptional employee performance and investment in proprietary technologies for its network of freight agents, shippers and carriers. Over half of the company’s revenue growth is organic with the remainder achieved through acquisitions.
“Technology is changing the 3PL industry. As a market leader, we are focused on providing best-in-class logistics solutions through technology innovation, hiring the best talent in the marketplace and the expansion of service modes while undertaking key initiatives to provide superior service to our customers,” said Bob Farrell, chairman and CEO. “This year, increasing our national footprint through organic growth and strategic acquisitions has contributed to our success. I am confident this momentum will continue through our fourth quarter and well into the future.”
Additional third quarter report highlights include:
- Gross profit increase of 30 percent over last year
- Total shipment gains of 30 percent year over year
- Agents who have been with the company for a year, increased their revenue by 35 percent
- Expanded service offerings to include Managed Transportation, Supply Chain Services and Project Logistics – Heavy Haul.
“Strong third quarter results further position us in an upward trajectory for the remainder of 2017,” said Renee Krug, CFO. “With our expanded service offerings, we are able to bring additional value to our customer base and further drive efficiencies within their supply chain.”
GlobalTranz increased its share in the logistics market in 2017 through strategic acquisitions. Global Freight Source, Logistics Planning Services and Worthington Logistics Solutions are among the newest additions to the GlobalTranz portfolio. Integration efforts are well underway and planned to be fully implemented by the end of the calendar year. Mergers and acquisitions continue to play a key role in supplementing the company’s organic growth.
In addition to the company’s financial success, GlobalTranz continues to establish new corporate citizenship initiatives, actively supporting the communities it serves. The launch of Ladies in Logistics, a program empowering women in the freight and logistics industries through mentoring, education and networking, has been a great success with over 150 members thus far.
The company also showed its support of our nation’s unsung heroes of the road during National Truck Driver Appreciation Week. Employees were out in force at various truck stops nationwide recognizing the country’s truck drivers and expressing gratitude for the work they do each day. In response to the devastating impact of hurricanes in Texas, Florida and the Caribbean, GlobalTranz partnered with carriers and customers to deliver food, water and relief supplies to affected areas.
For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.
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. In 2017, Transport Topics ranked GlobalTranz as the 13th largest freight brokerage firm in the U.S.
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GlobalTranz Enterprises, Inc.
Chief Marketing Officer
Source: GlobalTranz Enterprises, Inc.