Key TakeawaysUPS customers are trading down, another signal from the second-quarter earnings season about the search for value options across the U.S. economy.CFO Brian Dykes said on a conference call that UPS "saw customers shift from air to ground and from ground to SurePost."A range of companies have highlighted both consumer and corporate customers' search for lower-price options for goods and services in recent quarterly reports. United Parcel Service (UPS) customers are trading down, another signal fr ...

Shares of United Parcel Service, Inc. (UPS) declined in pre-market trading on Jul 23, 2024.  The downside was owing to the disappointing second-quarter 2024 results wherein both earnings and revenues lagged the Zacks Consensus Estimate and dull operating margin view for the full year 2024.Quarterly earnings of $1.79 per share missed the Zacks Consensus Estimate of $1.98 and declined 29.5% year over year. Revenues of $21.82 billion fell short of the Zacks Consensus Estimate of $22.31 billion and decreased 1. ...

United Parcel Service, Inc. (NYSE:UPS) Q2 2024 Earnings Conference Call July 23, 2024 8:30 AM ET Company Participants PJ Guido - IR Carol Tome - CEO Brian Dykes - CFO Matt Guffey - EVP & Chief Commercial & Strategy Officer Nando Cesarone - EVP & President U.S. Kate Gutmann - EVP & President International, Healthcare and Supply Chain Solutions Conference Call Participants Tom Wadewitz - UBS Jordan Alliger - Goldman Sachs Ken Hoexter - Bank of America Ravi Shanker - Morgan Stanley Scott Group - Wolfe Research ...

Higher costs spark a disappointing earnings result.United Parcel Service (UPS -13.18%) saw a return to volume growth in the quarter, but higher-than-expected expenses weighed on results.Shares of UPS traded down 12% as of 10 a.m. ET after the company reported a top- and bottom-line miss.Volumes, and costs, are heading higherIt has been a tough 18 months for transportation companies. A surge in shipping after the height of the pandemic gave way to uncertainty about the health of the economy, causing large co ...

United Parcel Service missed Wall Street estimates for second-quarter earnings on Tuesday, hurt by subdued package delivery demand and higher costs from its Teamsters labor contract. Shares of the delivery company, seen as a bellwether for the global economy, were down 8% in premarket trading, while shares of rival FedEx fell about 2%.UPS, FedEx and other home delivery providers have been slashing costs since the end of home-bound consumers' early pandemic e-commerce binge in late 2021. Demand for doorstep ...

Key TakeawaysUPS shares tumbled Tuesday after the shipping giant reported second-quarter profits plunged over 30% from a year ago and missed analysts' estimates.The company, and its shipping rival FedEx, have seen demand fall amid a pullback from pandemic highs for package deliveries.UPS also narrowed its revenue outlook and lowered its operating margin projections. Shares of United Parcel Service (UPS) tumbled 8% in pre-market trading Tuesday after the shipping giant reported second-quarter earnings that w ...

United Parcel Service (UPS) came out with quarterly earnings of $1.79 per share, missing the Zacks Consensus Estimate of $1.98 per share. This compares to earnings of $2.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -9.60%. A quarter ago, it was expected that this package delivery service would post earnings of $1.33 per share when it actually produced earnings of $1.43, delivering a surprise of 7.52%.Over the last four q ...

United Parcel Service on Thursday reported profit and revenue for the second-quarter that came in below expectations and cut its 2024 revenue guidance. Shares were down 7% in premarket trading.UPS now expects 2024 revenue to be approximately $93 billion, revised from a previous forecast for as much as $94.5 billion. Full-year capital expenditures, however, is now expected at around $4 billion, rather than the previous $4.5 billion.The company also announced it's targeting around $500 million in share repurc ...

Exhibit 99.2 United Parcel Service, Inc. Selected Financial Data - Second Quarter (unaudited) Three Months Ended June 30 | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------|-------|----------|--------|-------|--------|----------| | | | | 2023 | | Change | % Change | | (amounts in millions, except per share data) | | | | | | | | Statement of Income Data: | | | | | | | | Revenue: | | | | | | | | U.S. Domestic Package | $ | 14,119 $ | 14,396 | $ | (277) | (1.9)% | | Inte ...

Loading...Loading...An earnings report from United Parcel Service UPS is a key item to watch this week, according to market strategist Jay Woods, who spoke to Benzinga about the multiple companies reporting earnings.What Happened: Several large-cap companies will report earnings for the week, including two members of the Magnificent Seven (Alphabet, Tesla).Freedom Capital Markets Chief Global Strategist Woods highlighted Alphabet Inc GOOG GOOGL and Tesla Inc as two of the biggest stocks to watch and the com ...