We will continue monitoring GB outbound in the coming weeks. This supports the anecdotal evidence of unprepared shippers, maxed out bank guarantees for transit documents, and carriers preferring to go back to the continent empty. We observe very high rejection rates from GB to DE and FR. While we are focused mainly on monitoring the truckload market developments from continental Europe to Great Britain, there is evidence that the opposite direction is also facing significant challenges. Rejection rates are on the rise again and higher than normal and, on some lanes, every fifth contract load got rejected in calendar week 3/2021. Actually, freight volumes for goods moving between the UK and EU are currently down 38% compared to the same week one year ago. When using the CPI, please note that it is not applicable to all consumers and should. Transport demand is slowly recovering but still sluggish – our FRGB border crossing monitoring, based on real-time visibility data by Sixfold, indicates significant volume drop compared to the same weeks in January 2020. For a more accurate detection, the core CPI (CPILFESL) is often used. The key question for this and next week is, if rates will follow the normal seasonality pattern (Q1 is characterized by over-capacity on most lanes, i.e. There seems to be some stabilization of spot rates, at higher level than the Q3 average, and in some cases also higher in comparison to weeks 40-50 (where we observed clear indication of stockpiling activities.) Lyft has been forced to become more disciplined with driver incentives, prompting Uber to do the same and helping its margins, Oppenheimer's Helfstein said.Volatility still dominated the GB Inbound lanes monitored by Transporeon last week. Regarding competition with Lyft, Uber's Khosrowshahi said on a post-earnings conference call that "they're looking to price competitively with us" but "the days of paying for share and essentially using shareholder money to buy share temporarily, those days are over." The food delivery unit's revenue growth was slightly above expectations at 23% and Uber said it expected "strong growth" in the coming quarters.Īdjusted EBITDA was $761 million, Uber's highest on record, while the adjusted loss of 8 cents per share was narrower than expected. Uber's first-quarter revenue jumped 29% to $8.82 billion, beating estimates of $8.73 billion, thanks to a 72% surge in the ride-hailing segment. "Return to work/travel tailwinds are causing mobility to outperform 'normal' 1Q seasonality," Oppenheimer & Co analyst Jason Helfstein said, adding that increased driver density and trips were boosting the fee Uber gets on transactions. The company said it was on track to post operating income profitability this year and that it was keeping its workforce flat after headcount fell sequentially in the first quarter. 'Its the best Mac weather app.' - John Gruber, Daring Fireball Seasonality Core 2.0 is a Mac app any weather aficionado should have. Uber expects adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of between $800 million and $850 million for the June quarter, compared with analysts' projection of $749.1 million, according to Refinitiv. "Our clear lead on driver preference has allowed us to better serve this growing demand: 5.7 million drivers and couriers earned $13.7 billion (including tips) on Uber during the quarter, both all-time highs," CEO Dara Khosrowshahi said.Īfter a tepid performance in the last two years, "the rideshare category in the United States and Canada is now growing faster in 2023," he said. A jump in the number of people looking for extra income has also helped it offer lower incentives to gig workers, analysts have said. Uber is benefiting from its dominant position in key global markets as travel rebounds from a pandemic-induced lull. Love us for your money 24.99 gets you today’s most intuitive and advanced weather application for the Mac, as well as access to our famed back-end that downloads and crunches data from all. Shares of the company rose 7% and helped drive small gains in those of rival Lyft Inc (LYFT.O), which reports earnings on Thursday. Seasonality Core relies on independent and non-commercial scientific sources for its data which guarantees balanced, complete and continuous reporting. ride-sharing giant report better-than-expected results for the January-March period. May 2 (Reuters) - Uber Technologies Inc (UBER.N) forecast quarterly core earnings above estimates on Tuesday, after a surge in demand for travel and food delivery helped the U.S.
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