Global supply chain SaaS provider Descartes reported record results for its fiscal third quarter, ending October 31, with earnings per share of 50 cents, 11% higher y/y revenue of $188 million, and adjusted EBITDA of $86 million, up 19% y/y. CEO Ed Ryan highlighted the company’s growth in solutions and services.

Descartes’ customers are facing challenges with forecasting due to tariff volatility and trading party changes, driving increased demand for the company’s services. CEO Ed Ryan emphasized the importance of Descartes’ Global Logistics Network in providing accurate data and solutions for managing shipments in complex market conditions.

Descartes announced its executive vice president of corporate development, Ed Gardner, will replace Allan Brett as CFO in March. The company also reported a 22% y/y increase in cash flow from operations to $73 million and a 3.8% rise in DSGX shares in after-hours trading.

The company ended the quarter with $279 million in cash and an untapped $350 million line of credit. Descartes filed for a normal course issuer bid to repurchase up to 10% of its stock. Allan Brett will retire fully at a later date after transitioning to a senior advisory role.

Read more at Yahoo Finance: Descartes reports record results in FQ3