MFT - Mainfreight. Global Freight & Logistics

[Sideshow Bob]

https://www.nzx.com/announcements/415379

Speeches and preso.

[Sideshow Bob]

Probably explains why my Amazon parcel arrived a few days earlier than expected.

It's a solid company. Just market conditions.

Imagine how other transport companies are faring......

[winner69]

Brutal but its best qtr vs worst qtr ...still below expectations ...shud rattle SP in the short term ...maybe u will get your chance

Not that good eh alokdhir

Profit margin down from 10.0% to 7.0% ….ouch

Margin back to good ol days …..the bonus boom years over

As the slide take away says

“We have plenty to do”

[Fortunecookie]

Imagine how other transport companies are faring......

Probably across the board and plenty of other industries.

[Valuegrowth]

Results are as I expected.


https://www.statista.com/statistics/...freight-index/

Monthly container freight rate index worldwide 2019-2023

Published by
Martin Placek,
Jul 11, 2023

Container freight rates oscillated dramatically between January 2019 and June 2023. The year 2021 saw an especially steep increase in global freight rates, reaching a record price of nearly 10,400 U.S. dollars in September 2021.

In June 2023, the global freight rate index stood at almost 1,500 U.S. dollars."

https://mekseaconnection.com/the-tun...1%20year%20ago.

“According to the Harper Shipping Index, the global container price for a 20ft container as of January 7, 2022, is 3,817 points. In the first week of January 2021, the index was around 1,000 points, which means that shipping prices for these boxes have increased by 280%.

https://www.xeneta.com/news/container-rates-alert-long-term-ocean-freight-rates-fall-again-with-almost-50-drop-in-key-pricing-benchmark-across-last-three-months

June 29, 2023 -- Oslo, Norway -- The beleaguered carrier industry took another major hit in June, with the latest data from Xeneta’s Shipping Index (XSI®) showing a decline of 9.4% in global long-term shipping rates. Following on the heels of a 27.5% collapse in May, and a 10.3% fall in April, contracted rates have now shed 47.2% of their value in the last three months alone, and 51.7% over the course of 2023.

[alokdhir]

Not that good eh alokdhir

Profit margin down from 10.0% to 7.0% ….ouch

Margin back to good ol days …..the bonus boom years over

As the slide take away says

“We have plenty to do”

Agree not that good ...but its just a qtr ...give them time to react and give economies time to recover

Maybe the SP will play out like JB Hunts ...when they reported their worst qtr the stock had already bottomed ....

Your $ 3.25 EPS can be on cards for whole year if this not improve ahead ....then also not much downside ...imho ...but anything possible !!!

[Muse]

Brutal but its best qtr vs worst qtr ...still below expectations ...shud rattle SP in the short term ...maybe u will get your chance

aye it's always tricky and easy to go astray looking at YoY % changes when you cycle peak or trough periods. takes a bit of effort to untangle the underlying change in momentum.

They do tell it like it is and business has earnt great respect for that. ANZ the powerhouse of the group and holding up better than the rest. Reckon AU warehousing will come under strain throughout this year based on some very poor forward order data for australian retailers - will be interesting how it plays out. USA seems to have turned before ANZ so could swing back up quicker while ANZ still in a lull, potentially. Expect some ongoing revisions to consensus estimates (FY25 looking rose tinted). but as you rightly say for highly liquid stocks like this the mkt is forward looking and not to expect 1:1 movements in earnings and SP. Will be fun to watch.

Disc...holder, & wouldn't mind picking up some more if the price is right.

[alokdhir]

aye it's always tricky and easy to go astray looking at YoY % changes when you cycle peak or trough periods. takes a bit of effort to untangle the underlying change in momentum.

They do tell it like it is and business has earnt great respect for that. ANZ the powerhouse of the group and holding up better than the rest. Reckon AU warehousing will come under strain throughout this year based on some very poor forward order data for australian retailers - will be interesting how it plays out. USA seems to have turned before ANZ so could swing back up quicker while ANZ still in a lull, potentially. Expect some ongoing revisions to consensus estimates (FY25 looking rose tinted). but as you rightly say for highly liquid stocks like this the mkt is forward looking and not to expect 1:1 movements in earnings and SP. Will be fun to watch.

Disc...holder, & wouldn't mind picking up some more if the price is right.

After seeing the numbers more closely ...Transport / Warehousing PBT down even on some increase in revenues for warehousing and small decrease for transport ....I get the impression this qtr they effected inflation related price adjustments ...thus this big PBT fall will get arrested ahead . Overall year 20-25% decrease to $3.25 -$ 3.50 eps is very much on cards ...this will lead to what SP ...no idea

[Rawz]

My guess is lowest it will go is $65. Small chance of that happening as well

[winner69]

On 27th July AGM MFT will reveal its 16 weeks numbers ..……

See they only produced quarter numbers or 13 weeks

Suppose doing the 16 weeks thing would have shown things worse …like pbt down 50% plus

Always a reason for changing the way one presents things