FedEx

The leading provider of liquid yeast, and other fermentation products and expertise that leading brewers, distillers and wine makers need, knew it wanted to break from the vicious cycle of parcel consulting fees. The transition to Reveel’s platform delivered far more than savings.

Quarterly revenue—at $22.2 billion—was down 2.6% annually, and operating income—at $1.42 billion—increased 14.8%. Net income, at $1.01 billion, topped the $820 million recorded for the same quarter a year ago. Adjusted earnings per share came in at $3.99, up 20% annually while falling short of Wall Street expectations, at $4.19.

Inventory and freight capacity is available, and consumer spending continues to remain resilient.

ShipMatrix observed that based on its data of millions of parcels shipped during Cyber Week pointed to online orders being delivered “at levels better than in the last several years,” with the respective OTPs for FedEx, UPS, and the USPS, coming in at 97.8%, 98.0%, and 95.2%, respectively.

Effective December 26, UPS said that rates for UPS Ground, UPS Air, and International services will increase by an average net 5.9%, which are in line with FedEx’s planned 2024 rate increases. For air cargo, effective December 3, UPS Air Freight rates within and between the U.S., Canada, and Puerto Rico will increase by an average net 6.3%.  

Automation is being used to upskill and retain the current workforce, but it is also being deployed to fill critical labor gaps that continue to grow, up 30% in 2023.

A sure sign that the holiday season getting closer each day are the respective announcements made by carriers, transportation and logistics services providers, and shippers alike, announcing their “help wanted” signs have been hung, as they look for seasonal workers.

Called a 'first of its kind,' the solution's AI-powered software tackles what is called parcel handling's most challenging task--loading and stacking parcels and all the variability this involves. Testing of the truck loading technology is ongoing by FedEx with a goal to refine the technology and deploy commercially in the future.

Quarterly revenue—at $21.7 billion—was down 7% annually, and operating income—at $1.49 billion—increased 25%. Net income, at $1.08 billion, topped the $875 million recorded for the same quarter a year ago. Adjusted earnings per share came in at $4.23, up 24% annually and topping Wall Street expectations, at $3.70.

With an eye on the 2023 peak shipping season, the United States Postal Service (USPS) said it would not implement any additional surcharges on holiday shipping.

With FedEx and UPS raising their rates, savvy shippers can still find rate value for 2024, but time may be running out.

In this podcast, Jeff Berman, Logistics Management and Peerless Media Supply Chain Group News Editor Jeff Berman interviews Rick Watson, Founder and CEO, RMW Commerce Consulting.

Keeping in line with recently announced rate increases made by its chief rival FedEx, Atlanta-based global freight transportation and logistics services provider UPS this week announced its own 2024 rate increases this week, which are set to go into effect on December 26.

Memphis-based global freight transportation and logistics services provider FedEx announced rate increases today for its FedEx Express, FedEx Freight, and FedEx Ground subsidiaries, which will take effect on January 1, 2024. The company also said that, effective September 4, it will officially rebrand “peak” surcharges to “demand” surcharges,

Various reports published late last week indicated that Seattle-based global e-commerce giant Amazon is in the process of rebooting its Amazon Shipping service, which is designed to compete with the parcel duopoly of UPS and FedEx, that it halted at the onset of the pandemic.