Comparing the 3PL market in Q1 2019 to Q 4 of 2018, the 3PL markets was downward in both volumes and price, as well as multiplies in the revenue numbers, according to a new report from Transportation Intermediaries Association (TIA).
“The market is indeed volatile," said TIA CEO Robert Voltmann.
Total shipment in Q! were 1,404, 274 down from 1,581, 655 in Q 4 2018, which is a 7.5% decline.
Revenue slid 12.8% from $3,296,915,000 to $2,873,272,000.
“The TIA statistics are completely consistent this quarter with a market receding from a cyclical peak, the most recent being the spectacular combination of regulatory drag and strong tonnage growth that topped out in the first half of 2019," said TIA's Chief Economist, Noel Perry.
The report represents more than 1.4 million shipments and almost $3 billion in total revenue for Q1 2019:
"It behooves our members to be prudent with cash flow based on these numbers, as further declines are likely both in the remainder of this year and through much of 2020, " said Perry in response to the downward moves in the Q1 Report.