UPS Stock Recent News

United Parcel Service: I See Persisting Profit Pressure Ahead

If United Parcel Service NYSE: UPS can be used as a leading indicator of the economy and S&P 500 performance, it sends a mixed signal. On the one hand, operational improvements and increased efficiency set UPS up for leverage growth when its business rebounds.

Italian energy group Eni said on Wednesday it would raise its planned 2024 share buyback by 45% to 1.6 billion euros after beating analyst expectations for its first-quarter net income.

United Parcel Service (UPS) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.33 per share. This compares to earnings of $2.20 per share a year ago.

United Parcel Service Inc (NYSE:UPS) saw its shares rise more than 2% on Tuesday after quarterly profits came in better than expected, with cost-cutting measures helping offset weakened demand. Underlying profits slipped year-on-year by 35% to US$1.43 per share in the first quarter.

UPS is looking to returns and big-and-bulky deliveries to expand its addressable market at a time when its shipping volumes have been decreasing.

UPS delivered higher-than-expected quarterly earnings despite weak revenue. Cost cuts and a focus on higher-margin deliveries is helping to offset soft demand for services.

United Parcel Service, Inc. (NYSE:UPS ) Q1 2024 Earnings Conference Call April 23, 2024 8:30 AM ET Company Participants PJ Guido - IR Carol Tome - CEO Brian Newman - CFO Nando Cesarone - EVP & President of U.S. and UPS Airline Matt Guffey - EVP & Chief Commercial & Strategy Officer Kate Gutmann - EVP and President of International, Healthcare & Supply Chain Solutions Conference Call Participants Eric Morgan - Barclays Amit Mehrotra - Deutsche Bank Tom Wadewitz - UBS Scott Group - Wolfe Research Ravi Shanker - Morgan Stanley Brian Ossenbeck - JPMorgan Conor Cunningham - Melius Research Jonathan Chappell - Evercore ISI Bascome Majors - Susquehanna Stephanie Moore - Jefferies Bruce Chan - Stifel Scott Schneeberger - Oppenheimer David Vernon - Bernstein Operator Good morning. My name is Stephen Dye, and I will be your conference facilitator today.

While the top- and bottom-line numbers for UPS (UPS) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

United Parcel Service (UPS) on Tuesday released first-quarter results that surpassed analyst expectations for adjusted profit but fell short of revenue expectations.