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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.

Quarterly revenue, at $24.9 billion, saw a 7.8% annual decrease, and adjusted earnings per share, at $2.47, were off 31.8%. Consolidated quarterly operating profit came in at $2.5 billion, which was off 22.5% annually on an adjusted basis.

The current state of the business relationship between Memphis-based freight transportation and logistics services provider FedEx and the United States Postal Service (USPS) received a fair amount of attention on the former’s fiscal second quarter earnings call late last year.

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.

Fiscal year 2023 second quarter earnings results, for the United States Postal Service (USPS), which were issued earlier this week, saw a 0.9% decrease, or $168 million, in operating revenue, to $18.6 billion, while total volume was off 11.4% annually.

In a supplemental update, the Teamsters said that it put UPS on notice during supplemental bargaining meetings throughout the country last week, refusing the “company’s outrageous insistence on cost-neutral agreements,” and adding that while some progress was made on various proposals by the union, the Teamsters also saw some disturbing backsliding by the company.

Company officials said that this new facility, which represents a $5 million investment, is 60% larger than the previous one, adding that it offers up myriad customer benefits, including increasing shipment capacity and faster shipment processing, which provide earlier deliveries for customers in the Long Beach and South Bay area.

Quarterly revenue—at $24.8 billion—rose 5.7% annually, and adjusted earnings per share—at $3.29—saw a 7.5% increase, topping Wall Street estimates of $3.16 per share. Quarterly operating profit was up 8.5% to $3.5 billion.

Following approval by the U.S. House of Representatives on February 8, the United States Senate followed suit yesterday, in also signing off on the Postal Service Reform Act, legislation that is focused on augmenting the financial health of the long-beleaguered United States Postal Service (USPS). The next step for the legislation is for it to be signed into law by President Biden.

Executive leadership for South Portland, Maine-based ShipRight, a provider of order fulfillment, contact center and final mile delivery services, provided LM with a look at how it approaches Peak Season, both from a preparation and operations perspective.

Quarterly revenue—at $23.4 billion—increased 14.5% annually, and adjusted earnings per share—at $3.06—saw a 43.7% annual gain, topping Wall Street expectations of $2.81. Operating profit—at $3.258 billion—rose 47.3%.

Total first quarter net income—at $318 million—was well ahead of a $748 million net income loss, for the same period a year ago. And total operating revenue—at $21.495 billion—topped the $19.351 billion from a year ago.

The United States Postal Service (USPS) announced that it has named Louis DeJoy as its 75th Postmaster General and CEO. DeJoy will be replacing Megan Brennan, whom has been serving in the position since 2015, and will take over on June 15. The incoming USPS chief will be the fifth Postmaster General to come over from the private sector, going back to when the USPS, in 1971, became an independent establishment within the Executive Branch.

Familiar themes, for both volumes and earnings, remained intact for the United States Postal Service (USPS), based on fiscal first quarter results released today.

For Kenneth Mink/The Fine Rug Gallery at Macy’s, the company’s exclusive lease partner and also the operator for Macy’s area rug business on Macys.com, the transition from carrier liability to cargo insurance was a long time coming.