Global supply lines are showing signs of improvement…
According to CNBC, Long Beach Port director Mario Cordero said California ports have begun to address shipping container and cargo ship backlogs.
He noted that while disruptions are continuing, Long Beach and Los Angeles are making strides in alleviating current constraints.
This is because these operations have implemented a fine to those that do not offload containers. For every container left at the ports, companies will be required to pay $100 per day if left for more than nine days.
And with these two areas accounting for as much as 40% of sea freight entering the U.S., many businesses have worked day and night to avoid fines and reduce broader congestion. In turn, the state has reported more than a 30% decrease in stagnant cargo containers.
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These factors have helped to alleviate some issues for shipping and delivery company FedEx (FDX).
In the company’s second quarter, FedEx reported earnings per share of $4.83 compared with the expected $4.28. FedEx’s revenue was $23.5 billion, beating the anticipated $22.41 billion.
And with improving supply chains, the shipping firm expects this momentum will continue. FedEx explained that it will likely deliver 100 million more packages than it did in 2019.
The company also forecasts its earnings per share will come in at around $20.50 to $21.50 versus its previous guidance of $19.75 to $21.
So, these financials and gradual improvements within the U.S.’s supply chains, indicate that distribution delays may decrease. In turn, it should enable FedEx to tackle pent-up demand from customers and businesses, potentially boosting its profits in the months ahead.
Millionaire Tech Guru: This Could Grow 48X Bigger than Stock Market (All of It)
Jeff Brown is a former Fortune 500 tech executive turned viral internet entrepreneur and renowned angel investor.
He’s widely known in the technology world for calling the highest-returning tech stocks of 2016, 2018, 2019, and 2020… as well as recommending Bitcoin to his readers in 2015, when it was trading for just $240.
While you may find other multimillionaires jet-setting between estates, living it up in exotic places, Jeff spends his time managing more than 260 private investments — like Coinbase, the world’s #1 cryptocurrency exchange (he saw 57X gains on his investment).
The rest of his time goes to sharing tech investing insights with a network of over 1million readers.
And today, he’s coming forward about a tiny corner of the crypto world where something strange & unprecedented is happening. It’s not Bitcoin, smaller “alt coins,” or Coinbase stock he’s been following.
It’s a crypto-based technology Jeff believes could: “Change the types of cars, houses & investments you can own in a way we haven’t seen for 400 years — and the rollout could be days away.”
Click here for Jeff’s full detailed prediction (& the easy $25 move he recommends)…
According to Jeff, we could soon see a fundamental overhaul of the entire global financial system. And the single biggest wealth shift since the birth of the world’s first stock, in 1602. But he’s not alone in his bold prediction…
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Jeff — truly one of the sharpest tech experts of our generation — says EVERY AMERICAN
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I strongly recommend you click over to this website, and spend a few minutes getting all the facts.
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