Highlights from the quarter include: *Raising FY 2021 billings2 guidance to $1,075-$1,095 million, unlevered free cash flow guidance to 17-19% of billings and Annualized Recurring Revenue (ARR) 2 guidance to 12-15% of billings *Strong billings growth across the Company of 22% in Q3 and 21% YTD as demand for teaching and learning solutions continued as students returned to classrooms this fall and teachers further assessed instructional needs for the remainder of the school year *ARR2 growth accelerated to 123% bringing ARR to $120 million, or 11% of trailing twelve-month billings. Net Retention Rate (NRR)2 was 153% *Trailing twelve-month free cash flow3 of $137 million, an improvement of $36 million compared to the second quarter of 2021, reflecting strong operating leverage and the benefits of 2020 actions to align HMH’s cost structure with its digital first, connected strategy
The United States Postal Service reported preliminary performance metrics for the 2021 holiday season showing the organization saw volume increase when compared to the same time last year. Between Thanksgiving and New Year’s Eve, it took on average 2.7 days to deliver a mailpiece or package across the Postal Service network. During the same timeframe, the network accepted more than 13.2 billion letters, cards, flats and packages for delivery, exceeding 12.7 billion accepted for delivery during the same timeframe in 2020.
“Our mission to deliver for America is an enormous responsibility, especially during the holidays,” said Postmaster General Louis DeJoy. “I am humbled by the hard work and dedication of each and every one of our 650,000 employees who, despite the challenges of the pandemic, helped bring joy and commerce to people across the nation.”
The Postal Service’s peak season preparations included:
*Stabilizing the Workforce and Preparing for Pandemic-related Challenges: The conversion of 63,000 pre-career employees into career positions and the onboarding of more than 185,000 employees since the beginning of last fiscal year, including the backfilling of the 63,000 pre-career employees and the national drive to hire an additional 40,000 seasonal employees.
*Expanded Facility Footprint to Resolve Bottlenecks and Improve the Flow of Mail and Packages: The leasing of 13 million square feet of additional space across more than 100 locations to accommodate mail and packages, including over 50 annexes with multiyear leases to address year-round space constraints due to parcel growth.
*New Package Sorting Equipment to Expedite Handling and Sortation of Increased Package Volumes: The installation of 112 new package sorting machines and more than 50 package systems capable of sorting large packages. As a result of an organization-wide focus on improving operations and strategic investments, the Postal Service boosted daily processing capacity by 13 million packages. Package sortation capacity enables efficient movement of mail over the integrated USPS delivery network as mail and packages travel together. These machines also reduce the physical toll on our workforce.
*Diversified, Reliable Transportation Options: The leasing of nearly 3,300 trailers just for peak season and the diversification of volume traveling across the air network among additional air carriers. The Postal Service also expanded the surface transfer center network by adding 1.6 million additional square feet and over 300 dock doors to, among other things, increase long-haul transportation utilization and mitigate driver shortage issues.
more at source: https://about.usps.com/newsroom/national-releases/2022/0106-usps-accepted-more-than-13-2-billion-mailpieces-and-packages-this-holiday-season.htm