PHOENIX--(BUSINESS WIRE)--GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today reported a fourth-quarter revenue increase of 67 percent and earnings growth of 62 percent year over year. Closing out 2017 with total revenue gains of 55 percent and earnings growth of 42 percent, GlobalTranz continues to outpace many competitors in the industry.
The company’s ongoing success is driven by organic growth, strategic acquisitions and exceptional performance of transactional and managed transportation. Approximately half of the company’s 2017 revenue growth was organic, while the remainder was achieved through strategic acquisitions.
“For the second year in a row, GlobalTranz has achieved record growth and profitability,” said Bob Farrell, chairman and CEO. “Our exceptional performance in volatile market conditions can be attributed to the power of our technology, the strength of our go-to-market model, and our expansive suite of multi-modal logistics solutions. As logistics increasingly becomes digitized, we are pioneering the use of new technologies like AI and Predictive Analytics to add value for shippers and carriers, and drive market leadership in the industry.”
2017 Company Highlights
- Total revenue gains of 55 percent year over year.
- Total gross profit increase of 42 percent over last year.
- Freight Agents who have been with GlobalTranz for a year increased their revenue by 40 percent year over year.
- Expanded service offerings to include Managed Transportation, Supply Chain Services and Project Logistics – Heavy Haul.
- Broadened national and international footprint with seven branches throughout the United States and operations in Mexico.
- Completed five strategic acquisitions in the last thirteen months, successfully integrating Global Freight Source, Logistics Planning Services, Worthington Logistics Solutions, Apex Logistics and AJR Transportation into the GlobalTranz network.
- Became one of the first 3PLs to join Blockchain In Trucking Alliance (BiTA), the largest commercial alliance in the world devoted to developing blockchain standards in the transportation industry.
“We are pleased to announce record year over year results," said Renee Krug, CFO. “Our commitment to meet customers’ evolving logistics needs with our innovative technology and expanded service offering is having a positive impact on our financial performance. We will continue to invest in bringing industry-leading solutions to market that add value for our customers and drive efficiencies into their supply chains.”
In addition to the company’s financial success, GlobalTranz was recognized in 2017 for its innovation, growth and leadership.
2017 Industry Accolades and Awards
- Named Top 10 3PL to Watch and listed as a Top 100 3PL by Inbound Logistics.
- Ninth Largest Private Company in Arizona by Phoenix Business Journal.
- Recognized for the seventh consecutive year as one of the fastest growing companies in Arizona by Phoenix Business Journal.
- Named one of the “Best Companies to Watch” in Arizona for its commitment to leadership, excellence, employee engagement and economic impact.
- Honored by ACG with the Arizona Deal of the Year Award for its completion of strategic acquisitions in 2017.
- Chairman and CEO, Bob Farrell, won the 2017 CEO Award from CEO Today.
- CFO, Renee Krug, was named 2017 CFO of the Year Arizona by CV Magazine, a finalist for CFO of the Year by the Arizona Chapter of Financial Executives International (FEI) and Phoenix Business Journal, in addition to receiving the CFO Award from Finance Monthly.
- COO, Kirsten Hall, was recognized with the Women in Business Award from Minneapolis St. Paul Business Journal.
- General Counsel, Jeffrey Simmons, received the First Chair Award for Top General Counsel.
The company’s growth is expected to continue throughout 2018. “Increasing our national footprint through organic growth and acquisitions contributed to our 2017 success,” said Farrell. “In 2018, strategic mergers and acquisitions will continue to play a key role in expanding our capabilities, market share, and supplementing our organic growth as our revenue exceeds $1 billion.”
GlobalTranz continued to establish new corporate citizenship initiatives, actively supporting the communities it serves.
2017 Corporate Citizenship Initiatives
- Partnered with U.S. Army PaYS to help provide soldiers with career opportunities.
- Launched Ladies in Logistics, a program empowering women in the freight and logistics industries through mentoring, education and networking.
- Partnered with Coder Camps to help prepare software development and engineering students for successful, rewarding careers in the tech industry.
- Supported our nation’s unsung heroes of the road during National Truck Driver Appreciation Week, 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.
About 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.
