UPS fourth quarter earnings see more declines

Logistics Management News - January 31st, 2024

This Week in Logistics Management

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| Logistics Management News · January 31, 2024

UPS fourth quarter earnings see more declines 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. Read more.

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C.H. Robinson President & CEO Bozeman provides overview of key logistics trends and themes at SMC3 JumpStart 2024 Bozeman discussed his acclimation to C.H. Robinson, coming over from Amazon, where he served as Vice President of Amazon Transportation Services, and leadership roles at Caterpillar Inc., Harley-Davidson, and Ford Motor Company prior to that. Other topics… Read more.

Armada’s Prather examines the disconnect between the freight economy and the macro economy at SMC3 JumpStart 2024 When posed the question of if there is really strong product consumption, coupled with consumers spending, why is that not being felt in the freight market, Prather explained that based on looking at data going back multiple decades,… Read more.

CBRE report highlights a decrease in ‘megawarehouse’ leases from 2022 to 2023 CBRE reported that the largest 100 industrial lease transactions in 2023 included 43 deals for 1 million square-feet (MSF) or more, which the firm describes as “megawarehouses.” This fell short of 2022’s record-high 63 deals and 2021’s strong 57 deals tally. The average size… Read more.

Forward Air’s acquisition of Omni Logistics becomes a done deal Following a previous announcement earlier this week, in which key financial terms of a previously-announced deal were amended, Greenville, Tenn.-based asset-light freight and logistics services provider Forward Air said its acquisition of Dallas-based Omni Logistics, an asset-light,… Read more.

Averitt’s ‘State of the Supply Chain Survey’ presents an optimistic tone for 2024 The survey’s findings were based on feedback from more than 1,400 North American shippers across various sectors and was conducted late last year. Topics covered in the survey included measuring the use of and interest in various supply… Read more.

National diesel average heads up by nearly 3 cents, for the week of January 29, reports EIA Rising 2.9 cents, the national average came in at $3.867 per gallon, following a 2.5-cent decrease, to $3.838 per gallon, for the week of January 22. Read more.

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