The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0644 GMT – Kuehne+Nagel International’s third-quarter earnings beat and cost-control should be seen by investors as positive, Citi analysts say in a note. The Swiss shipping and logistics company’s adjusted EBIT of 446 million Swiss francs surpassed the company-compiled consensus of CHF427 million thanks to stronger-than-expected pricing in both its sea and air freight segments, the analysts say. The company attained a conversion ratio of around 44% in its sea business, compared with a consensus of around 41%, while its 33% conversion ratio in its air freight business beat the consensus of around 30%. “We see the beat and cost-control likely to be taken positive,” Citi says. Still, the analysts do not see a significant revision to the company’s full-year EBIT consensus of CHF2.00 billion.(david.sachs@wsj.com)
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