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 ...

Both UPS and FedEx told their customers Friday (July 19) that package deliveries may be delayed due to the global Microsoft outage that began late Thursday (July 18).“A third-party software outage is impacting some UPS computer systems,” UPS said in a service alert on its website. “While the UPS network is operating and delivering in all areas, there is a potential for delivery delays. Contingency plans are in place to help ensure that shipments arrive at their final destinations as quickly as possible.”Sim ...

The market expects United Parcel Service (UPS) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on July 23, 2024, might help the stock move higher if these key numbers ...

The package delivery giant's earnings will dramatically improve in the second half.It's been a challenging year for UPS (UPS 2.97%), and the stock declined 13% in the first half of the year, according to data from S&P Global Market Intelligence. The decline reflects the ongoing challenges caused by a decrease in delivery volumes and the increase in compensation costs resulting from a new labor contract agreed upon last year.UPS's challenging yearIt gets worse. Last year's protracted labor negotiations cause ...

100pk Introduction Earnings season is about to heat up, which includes one segment I always cover very extensively: transportation. One transportation company I have increasingly covered since last year is the United Parcel Service, Inc. (NYSE:UPS). My most recent article on this company was written on March 28, when I went with the title “UPSwing: Why This Delivery Giant May Be Poised For Takeoff.” In that article, we discussed the company's long-term growth plans after it held its Analyst/Investor Da ...