Kuehne + Nagel International AG
KNIN: XSWX (CHE)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CHF 964.00 | Hzrjxn | Pvkhlxy |
Kuehne+Nagel Earnings: Still Negotiating Rough Seas
Soon after DSV released its results on Oct. 24, narrow-moat third-party logistics company Kuehne+Nagel reported a similarly stark third-quarter update. Revenue fell by almost 50% year over year, with EBIT declines coming in a touch worse. With no end in sight to the malaise, management’s commentary was focused on cost controls for the final quarter of 2023. We reiterate our CHF 220 fair value estimate and see the shares as moderately overvalued currently.