ONE EBIT nearly doubled YoY and tripled QoQ in 2Q 2024 on reduction of unit
costs despite sub-market freight rates hike achieved. ONE’s unit revenue (total
revenue over total volume) was up only 1% YoY and 4% QoQ against CCFI’s 53% YoY
and 12 % QoQ.
ONE lifted FY2024 earning guidance from $1.0bn to $2.7bn, with earnings expected
to nearly double QoQ to $1.5bn in 2Q FY2024 (Jul-Sep) before dropping in 2H
FY2024 by 78% HoH.