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FedEx fiscal third quarter earnings see gains amid ongoing volume declines
Quarterly revenue, at $21.7 billion, was off 2.3% annually, and operating income, at $1.24 billion, rose 16% annually. Earnings per share, at $3.51, topped the $3.05 from a year ago, topping Wall Street expectations of $3.30. Net income, at $879 million, was up 12% annually.

Saia posts blowout fourth quarter earnings report in post-Yellow LTL boom
Saia, the nation’s eighth-largest less-than-truckload (LTL) carrier, enjoyed a blowout fourth quarter with earnings exceeding Wall Street analysts’ expectations in one of the first indications of a post-Yellow freight boom in the LTL sector.

XPO reports solid third quarter earnings results
Quarterly revenue, at $1.98 billion, was up 2% annually, and adjusted earnings per share fell 7% annually, to $0.88, topping Wall Street estimates, at $0.66.

Revenues Fall at UPS; Happy Returns Acquisition Announced
UPS said consolidated revenue fell 12.8% in Q3, but that it was winning back business lost during contract negotiations with the Teamsters.

UPS reports declines in third quarter earnings, citing lower global demand
Quarterly revenue, at $21.1 billion, saw a 12.8% annual decrease, and adjusted earnings per share, at $1.57, were off 47.5%. Consolidated quarterly operating profit came in at $1.3 billion, which was off 48.7% annually on an adjusted basis.

FedEx finishes FY 2023 with earnings declines, amid signs of improvements
Quarterly revenue—at $21.9 billion—was down 10.3% annually, and adjusted operating income—at $1.8 billion—fell 21%. Adjusted earnings per share came in at $4.94, down 28% annually and topping Wall Street expectations, at $4.85.

Yellow loss doubles in Q1; ABF, Saia hold steady in softer freight environment
Freight demand did not pick up toward the second half of the first quarter, as it usually does in the LTL sector.

Despite lower demand, XPO reports solid Q1 earnings results
Quarterly revenue—at $1.91 billion—was up 1% annually, and adjusted earnings per share—at $0.56—rose $0.22 annually, topping Wall Street estimates, at $0.46. Operating income came in at $58 million, down from $63 million a year ago, which XPO said reflected higher transaction costs related to its previous spin-off of RXO. Adjusted EBITA—at $210 million—was up 12%.

‘Soft’ freight environment doubles quarterly loss at LTL leader Yellow
Yellow, which controls about 10% of the $58 billion less-than-truckload (LTL) market, suffered a first quarter loss of $54.6 million on revenue of $1.159 billion. That was nearly twice the loss of $27.5 million on $1.26 billion revenue in the year-ago period.

UPS sees Q1 earnings decline, cites volume declines and macroeconomic conditions
Quarterly revenue—at $22.9 billion—was off 6% annually, and adjusted earnings per share—at $2.20—fell 27.9%, for the same period. Consolidated quarterly operating profit came in at $2.5 billion, which was off 22.8% annually on an adjusted basis.

Ongoing demand weakness again impacts FedEx earnings
Quarterly revenue—at $22.2 billion—was off 6% annually, and net income—at $865 million was below the $1.22 billion recorded a year ago. Diluted earnings per share—at $3.41—fell 7.4%.

XPO turns in strong Q4 2022 earnings results
Revenue came in at $1.83 billion, for a 3.3% annual increase, and adjusted earnings per share, at $0.98, topped the $0.64 recorded for the same quarter a year ago. XPO officials cited various growth drivers that factored into its quarterly earnings growth, including growing volumes, pricing, margins, and earnings, in what is called a “challenging macro environment,” and growing its shipment count and tonnage, outperforming negative trends in the industry and typical seasonality.

UPS Q4 and full-year 2022 earnings are mixed
Quarterly revenue—at $27.0 billion—was down 2.7% annually, and adjusted earnings per share—at $3.62—up 0.8% annually, topping Wall Street expectations of $3.59 per share. Quarterly operating profit came in at $3.2 billion, which was off 17.9% annually.

Lower demand and volumes drive down FedEx fiscal second quarter earnings
Quarterly revenue—at $22.8 billion—was off 3% annually, and net income—at $788 million—fell 25%. Operating income—at $1.176 billion—was off 26%. Diluted earnings per share—at $3.07—dropped 21%, topping Wall Street estimates of $2.83.

UPS turns in solid Q3 earnings amid mixed economic signals
Quarterly revenue—at $24.161 billion—increased 4.2% annually, and adjusted earnings per share—at $2.99—increased 10.3% annually and beat Wall Street estimates at $2.89 per share. Quarterly operating profit rose 7% to $3.113 billion.


 


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