Foreign Exchange and Rising Costs Are Headwinds in DHL's 1Q, but Core Express Growth Still Solid
In the first quarter of 2018, narrow-moat Deutsche Post DHL’s reported top line was roughly flat year over year, though it grew 6.5% organically (8% last quarter). Reported revenue came in below our forecast due to noise from foreign exchange and soft letter volume in Post. That said, core revenue growth was healthy at Express, German parcel delivery expansion is still seeing tailwinds from e-commerce, and previous infrastructure investments are bearing fruit for the Parcel Europe operations. Ex...Deutsche Post is a mail and logistics services group. In its Mail division, Co. provides domestic and international mail and parcels and is engaged in dialogue marketing, nationwide press distribution services and the electronic services related to mail delivery. Co.'s Express division provides courier and express services to business and private customers globally. Co.'s Global Forwarding, Freight division manages the carriage of goods by rail, road, air and sea, ranging from container transport to solutions for industrial projects. Co.'s Supply Chain division provides warehousing, managed transport and services at every link in the supply chain for customers in a variety of industries.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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