By LM Staff ·
January 17, 2023
The new edition of the Cowen/AFS Freight Index, which was released today by New York-based investment firm Cowen Inc. and Shreveport, La.-based 3PL and freight audit and payment company AFS Logistics LLC, was in line with expectations, for truckload, less-than-truckload (LTL), and parcel activity, from the third quarter to the fourth quarter.
By Jeff Berman ·
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.
By Jeff Berman ·
December 21, 2022
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.
By Jeff Berman ·
August 2, 2022
Following their late 2021 announcement, in which Vienna, Va.-based LaserShip, the largest regional e-commerce parcel carrier and last-mile delivery services provider, and Chandler, Ariz.-based regional shipping services provider OnTrac, announced they had entered into a definitive agreement to merge, with LaserShip acquiring OnTrac for $1.3 billion, the companies last week stated they are taking a major next step in the process.
By Jeff Berman ·
July 26, 2022
Memphis-based FedEx said that as economic conditions have shifted, it is making operational adjustments to suspend Sunday delivery operations in certain low-density, rural markets, effective the week of Aug. 15.
By Jeff Berman ·
July 25, 2022
The new edition of the Cowen/AFS Freight Index, which was recently released by New York-based investment firm Cowen Inc. and Shreveport, La.-based 3PL and freight audit and payment company AFS Logistics LLC, showed how the duo of higher carrier fuel surcharges and record-high inflation have impacted multiple modes, in tandem with flattening modal growth trajectories, seasonal factors, still-high fuel costs, and softening demand.
By LM Staff ·
February 8, 2022
The United States Postal Service (USPS) reported earlier today that, for the Fiscal Year (FY) 2022 first quarter, it had an adjusted loss of roughly $1.3 billion, much steeper than the $288 million adjusted loss it saw, for the same quarter last year. And USPS said that on a “generally accepted accounting principles basis, the USPS had a net loss of around $1.5 billion for the quarter, compared to $318 million in net income a year ago.
By Jeff Berman ·
December 14, 2021
Data recently issued by ShipMatrix, a subsidiary of Pittsburgh-based SJ Consulting showed varied on-time performance (OTP) ranges, for weeks 47 through 49 of 2021 and including Thanksgiving and Cyber Monday, from November 14-December 4), for major parcel carriers, including UPS, FedEx, and the United States Postal Service (USPS).
By Jeff Berman ·
August 12, 2021
USPS officials said that this temporary price adjustment is in line with what it did in 2020, in anticipation of what it called heightened peak season package and shipping demand that often brings about extra handling costs.
By Jeff Berman ·
August 11, 2021
Singapore-based Parcel Perform, a cloud-based delivery experience provider for global e-commerce shippers, announced today that it has secure $20M in Series A investments. This investment was headed by Palm Beach, Fla.-based Cambridge Capital, an investor in niche supply chain leaders, as well as a new investor, SoftBank Ventures Asia and existing investors Wavemaker Partners and Investible.
By Jeff Berman ·
July 29, 2021
Data recently provided to LM by ShipMatrix, a subsidiary of Pittsburgh-based SJ Consulting, pointed to mixed on-time performance (OTP) ranges, in June, for major parcel carriers, including UPS, FedEx, and the United States Postal Service (USPS).
By Jeff Berman ·
June 29, 2021
Data recently provided to LM by ShipMatrix, a subsidiary of Pittsburgh-based SJ Consulting, showed that major parcel carriers, including UPS, FedEx, the United States Postal Service (USPS), and were within similar ranges, for on-time performance (OTP) for May on an annual basis, whereas average daily volumes saw a bigger spread, to the upside.
By Jeff Berman ·
June 28, 2021
Global express delivery and logistics services provider DHL announced earlier this month that it has moved to a new location in Kansas City into a newly constructed state-of-the-art building, which is more than double the size of its previous location. The company invested $5 million into this new facility, noting that it increases its shipment capacity, enables faster equipment processing, and provides earlier delivery for its customers in the Kansas City area.
By Jeff Berman ·
May 11, 2021
Logistics Management Group News Editor Jeff Berman recently spoke with Rick Watson, Founder and CEO of New York-based RMW Commerce Consulting. Watson provided Berman with an overview of his views on the highly-competitive e-commerce logistics sector, how Amazon is standing out compared to the duopoly of UPS and FedEx and what shippers may be in store for in regards to the 2021 Peak Season.
By Jeff Berman ·
April 27, 2021
Quarterly revenue—$22.9 billion—headed up 27% annually, and adjusted earnings per share—at $2.77—climbed 141% annually and was nearly a full dollar ahead of Wall Street expectations, at $1.72. Consolidated quarterly operating profit increased 158%, to $2.8 billion.