FedEx fiscal second quarter revenue is down annually

Logistics Management News - December 20, 2023

This Week in Logistics Management

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| Logistics Management News · December 20, 2023

FedEx fiscal second quarter revenue is down annually 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. Read more.

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Industry groups call on CBP to reopen two Texas-based railroad crossings On December 18, CBP said that it is continuing to surge all available resources to safely process migrants in response to increased levels of migrant encounters at the Southwest Border, fueled by smugglers peddling disinformation to prey on vulnerable… Read more.

A.P. Moller-Maersk, Hapag-Lloyd stop commercial shipping in Red Sea Companies have placed a pause on activity as Houthi rebels continue to target commercial ships. Read more.

Panama Canal Authority takes steps to increase daily transits set to take effect in January The Panama Canal Authority (ACP) announced it is raising the number of daily vessel transits to 24, effective January 16, 2024. The current number of vessel transits is 22, ACP officials said, and are divided into six Neopanamax and 16 Panamax vessels, with… Read more.

DHL Express U.S. CEO Hewitt sizes up the 2023 Peak Season Logistics Management Group News Editor Jeff Berman recently caught up with DHL Express U.S. CEO Greg Hewitt to discuss various topics, including: the 2023 Peak Season; the freight economy; and variuous logistics trends and themes. Their conversation is… Read more.

November truck tonnage is down, reports ATA The ATA’s advanced Seasonally Adjusted (SA) For-Hire Truck Tonnage Index, for November, at 113.7 (2015=100), was off 1%, following an 0.8% October gain, which came in at 114.9. Read more.

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