UPS

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.

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.

MNX has more than 800 employees in 190 countries, according to UPS. Its network includes more than 2,500 agent partners, more than 45,000 couriers, and more than 700 forward stocking locations.

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.

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.

Following the formal ratification of the new five-year contract between Atlanta-based global freight transportation and logistics services provider UPS and the International Brotherhood of Teamsters late last month, a high-level UPS executive provided an overview of the deal, from the company’s perspective, on an analyst call yesterday.

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.

On July 25, UPS, made a tentative agreement with the International Brotherhood of Teamsters. Yesterday, the Teamsters reported that 161 out of 162 Teamsters local unions voted to endorse the tentative agreement and urge its full acceptance by all 340,000 full- and part-time UPS Teamsters members.

Following a tentative agreement made between Atlanta-based global freight transportation and logistics services provider UPS and the International Brotherhood of Teamsters on July 25, the Teamsters said yesterday that Teamsters local unions voted by a nearly unanimous 161-1 vote in favor of endorsing the tentative agreement and recommend its passage by full membership, for the 340,000 full- and part-time UPS Teamsters members.