Keyword
financials
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World’s top shipper expects virus outbreak to hurt earnings
Copenhagen, Denmark — The world’s largest shipping company, Denmark’s A.P. Moller-Maersk, said it expects the outbreak of the new coronavirus in China to hurt its 2020 earnings. The company said in its annual earnings report that the 2020 outlook “is subject to…
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Canadian Pacific Railway reports record fourth quarter and full year revenues
Calgary, AB — Canadian Pacific Railway Ltd. reported a record fourth-quarter profit as it seized on higher crude volumes and overcame a late grain harvest and other headwinds to boost profits by 22 per cent. “Global economic uncertainty caused by…
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CN Q4 earnings drop but CEO cautiously optimistic about second half of 2020
Montreal, QC — Canadian National Railway Co. saw its profits plunge last quarter with a week-long strike and thinner freight demand denting revenues, though CEO JJ Ruest expressed cautious optimism about the second half of 2020. “The trade environment, when…
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For some major US shippers, 2019 ended on a sour note
For major shipping companies dealing with trade wars and slowing global growth, conditions appear to have deteriorated for some as 2019 came to a close. Global shipping and logistics provider Expeditors International said Friday that it expects fourth quarter operating income to fall between…
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Amazon’s profit falls as costs for faster shipping soar
New York, NY — Amazon’s push for faster delivery is hurting its profits. The online retailer said its third-quarter net income fell 26% from a year ago, missing Wall Street expectations. Its sales outlook for the holiday shopping season also…
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CP Rail remains bullish amid global headwinds and record third quarter revenues
The head of the country’s second-biggest railway remained bullish about the coming year despite currently facing lower freight volumes, trade tensions and a sluggish global economy. “Unless mother nature humbles us and brings us to our knees…we see an opportunity…
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CN Rail cuts profit forecast for 2019 amid ‘softer’ economy and lower net income
Montreal, QC — Canada’s largest railroad operator cut its profit outlook for 2019 on Tuesday, saying a weaker economy has eroded rail demand. Canadian National Railway Co. lowered its expectations for adjusted earnings per share to the high single digits,…
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Demand for fast, online delivery drives UPS 3Q
Dallas, TX — UPS is doing booming business in next-day deliveries in the United States while keeping costs under control, but the weakening global economy is contributing to disappointing revenue growth. The delivery giant said Tuesday that third-quarter profit rose…
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Maersk reports rise in profits for Q2 2019
Copenhagen, Denmark — Shipping conglomerate A.P. Moller-Maersk reported profits in the second quarter of 2019 of USD$134 million, up from $15 million the year previously. The company reported a 17% increase in earnings before interest, tax, depreciation and amortization (EBITDA)…
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Oil and container traffic push CN Rail to record revenues of nearly $4B
Montreal, QC — Crude–by–rail and container traffic drove Canadian National Railway Co. to its highest ever quarterly revenue and adjusted earnings per share, shoring up confidence in its EPS forecast of low double-digit growth for 2019. The country’s largest railroad…
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CP Rail rakes in record second quarter revenue as traffic increases
Montreal, QC — Canadian Pacific Railway Ltd. announced record second-quarter revenues of nearly $2 billion Tuesday, driven by grain, international container traffic and energy, chemicals and plastics to beat analysts’ expectations. Traffic increased in all categories, with grain hitting its…
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Cargojet breaks even in first quarter compared with a profit a year ago
Mississauga, ON, — Cargojet Inc. broke even for its most recent quarter compared with a profit of $4.5 million a year ago as its revenue grew by 11.3 per cent. The company, which provides time sensitive overnight air cargo services, says the…