Latest posts about FedEx
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Taking a quick look at some year-to-date market trends and themes
July 31, 2023
While the calendar indicates that just about the first seven months of 2023 are officially in the books, this seems like as good of a time as any to take a quick look back at things on a year-to-date basis, as they relate to key supply chain, logistics, and freight transportation trends and themes.
UPS-Teamsters tentative agreement is likely to increase costs for shippers, analysts note
July 26, 2023
As freight transportation, logistics, and supply chain stakeholders (likely) breathed a collective sigh of relief yesterday, following the new five-year tentative agreement reached yesterday between Atlanta-based global freight transportation and logistics services provider UPS and the International Brotherhood of Teamsters, there has been no shortage of opinions and views on how this agreement, assuming it is ratified by UPS Teamsters members next month, will impact shippers, especially as it relates to pricing.
FedEx Express pilots reject tentative labor agreement
July 25, 2023
ALPA said that the pilots rejected the deal by a 57% to 43% margin. And as for next steps, it added that it expects the National Mediation Board to convene a status conference with the pilots and FedEx, with the caveat that there is no time requirement for this to occur.
Trucking capacity hit by slowdown with UPS strike, Yellow uncertainty two wild cards
July 13, 2023
Truck capacity across all modes is slowing because of slackening demand in both industry and retail freight, leading to murky forecasts for the rest of the year by leading freight analysts. Top freight officials throughout the trucking industry are bracing for a slowdown the second half of the year. Truck demand, buoyed last year by the recovery following the COVID shutdown, returns to a more normal level, they predict.
FedEx finishes FY 2023 with earnings declines, amid signs of improvements
June 21, 2023
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.
FedEx union pilots sign off on terms of tentative labor agreement
June 13, 2023
Forward progress remains intact in labor negotiations between Memphis-based global freight transportation services provider FedEx and pilots at the company’s FedEx Express subsidiary represented by the Air Line Pilots Association (ALPA), following a tentative agreement reached between the parties late last month.
Tentative FedEx Express union pilots deal is a positive sign for progress
June 1, 2023
Josh Taylor, Senior Director of Professional Services, for San Diego-based Shipware, an audit and parcel consulting services company, told Newsroom Notes that in looking at the FedEx pilots situation, the main risk posed to FedEx by the potential for a pilots’ strike hasn’t been the threat of the pilots walking out, but the dissatisfaction of the pilots and the uncertainty it could have created with investors.
FedEx and union-represented pilots reach terms on a tentative agreement
May 31, 2023
FedEx officials declined to comment on the agreement, outside of a brief statement issued by the company on May 30, which stated: “We are pleased to have reached a tentative agreement with our pilots as we continue delivering outstanding service to our customers around the world.”
New FedEx offering aids U.S. customers with emissions-tracking efforts
May 25, 2023
Entitled FedEx Sustainability Insights, the company said this new cloud-based tool, which was created by FedEx Dataworks, leverages near-real time FedEx network data to estimate CO2e emissions for both individual tracking numbers and FedEx.com accounts.
FedEx Freight announces plan to close nearly 30 locations
May 2, 2023
FedEx Freight, the less-than-truckload (LTL) subsidiary of Memphis-based global freight transportation and logistics services provider FedEx said on Monday it will close 29 freight locations and consolidate its operations into other locations, effective August 13, 2023.
Where Will the Next FedEx Come from in Today’s Tech-Ruled Markets?
April 25, 2023
Fred Smith was an innovative entrepreneur when he founded FedEx in 1973, revolutionizing the industry and introducing a brand new concept. Technology was integral to his success from the start, and remains so to this day.
FedEx signals intent to consolidate its operating companies into one organization
April 5, 2023
FedEx described this consolidation as a phased transition that will subsequently bring nearly all of its operating companies—FedEx Express, FedEx Ground, FedEx Services, as well as other FedEx operating companies—into Federal Express Corporation, and transition into what it called a single company operating a unified, fully integrated air-ground network. And it also noted that its less-than-truckload subsidiary, FedEx Freight, will remain as a standalone operation within Federal Express Corporation.
Ongoing demand weakness again impacts FedEx earnings
March 17, 2023
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%.
What to Expect from the Duopoly of FedEx & UPS General Rate Increase in 2023
March 6, 2023
As businesses of all sizes continue to scramble to find savings to offset the weight of these heavy annual increases, from FedEx and UPS, the major parcel carriers have again leveraged their duopoly of the industry and implemented widespread increases.
FedEx preps to further reduce Sunday delivery services
January 12, 2023
After stating in July that it was preparing to cut down on its Sunday delivery services in remote and rural areas of the United States, from 95% to 80% of the U.S. population, Memphis-based global freight transportation and logistics services provider FedEx is now reducing its Sunday delivery footprint to around 50% of the country, according to various reports.