Just caught Kuehne+Nagel's latest earnings and the numbers are pretty interesting. So Q4 net income came in at 164 million Swiss francs, which is basically half of what they did last year at 315 million. That's a notable drop in francs symbol terms. Their recurring EBIT held up a bit better at 335 million francs versus the 421 million they posted before, but still down overall.

Looking at the bigger picture, they pulled in 24.5 billion francs in total turnover for the full year, with recurring EBIT around 1.4 billion francs. Earnings landed at 925 million francs. The Q4 revenue slide was pretty steep too - dropped to 5.95 billion francs from 6.76 billion francs year-over-year.

What caught my eye is their guidance for 2026. They're expecting recurring EBIT somewhere between 1.2 to 1.4 billion Swiss francs. That's basically saying they're bracing for either stabilization or slight softness. Stock's sitting at 182 francs per share at the moment. Seems like the logistics sector is feeling some pressure, honestly.