Topline UPS plans to reduce its workforce by some 12,000 employees, the shipping giant announced on its fourth quarter earnings call Tuesday after it fell short of expectations at the end of last year.Reducing the workforce will save the shipping giant about $1 billion. AP/LM Otero Key FactsThe reduction in employees will save the company about $1 billion, CEO Carol Tomé said on the Tuesday company earnings call, according to multiple reports. This is a breaking story and will be updated. Further Reading ...

United Parcel Service Inc (NYSE: UPS) says it will lower its headcount by more than 2.0%. Shares of the shipping company are trading sharply in the red at writing.How many employees will be laid off?Copy link to sectionThe company based out of Atlanta, Georgia will lay off about 12,000 of its employees in total. Carol Tome – the chief executive of United Parcel Service expects the move to deliver some $1.0 billion in savings.The news arrives months after UPS reached a deal with Teamsters – a labour union th ...

Key PointsUnited Parcel Service reported another mixed quarter with top-line weakness and less-than-expected guidance.The trend in analysts' sentiment is bearish and expected to continue in 2024. Capital returns are safe for this high-yield stock, but the value may get much better soon. 5 stocks we like better than United Parcel ServiceUnited Parcel Service NYSE: UPS shares fell sharply following the Q4 results and 2024 guidance, confirming resistance at a critical level. The technical signal is bearish and ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

A United Parcel Service truck searches for a house driving along the coast of Cape Cod on July 24, 2023 in Orleans, Massachusetts.UPS fell short of Wall Street revenue estimates Tuesday, reporting drops in shipping volume, both internationally and domestically, in its fourth-quarter earnings report. Shares of the package giant dipped nearly 7% in premarket trading.Here's how the company performed compared to Wall Street estimates:Adjusted earnings: $2.47 vs. $2.46 per share expected, according to LSEG, form ...

UPS (NYSE: UPS) stock price plunged by more than 5% in the pre-market after the company published a weak guidance. The shares crashed to a low of $150, the lowest level since November 28 last year. They have pulled back by almost 9% from their highest point this year and by 21% from their highest point in 2023.UPS, one of the biggest shipping companies in the world, announced a mixed financial report. In a statement, the company said that its revenue dropped by 7.8% to $24.9 billion. Its operating profit al ...

Shares of United Parcel Service Inc. UPS, -0.80% sank 5.2% toward a two-month low in premarket trading Tuesday, after the package delivery giant reported fourth-quarter that fell below expectations, again, and provided a downbeat 2024 outlook, amid weakness in both the U.S. domestic and international businesses. Net income dropped to $1.61 billion, or $1.87 a share, from $3.45 billion, or $3.96 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.47 topped the Fa ...

ATLANTA--(BUSINESS WIRE)--UPS (NYSE:UPS) today announced fourth-quarter 2023 consolidated revenues of $24.9 billion, a 7.8% decrease from the fourth quarter of 2022. Consolidated operating profit was $2.5 billion, down 22.5% compared to the fourth quarter of 2022, and down 27.1% on an adjusted basis. Diluted earnings per share were $1.87 for the quarter; adjusted diluted earnings per share of $2.47 were 31.8% below the same period in 2022. For the fourth quarter of 2023, GAAP results include a total char ...

Analyst Estimates for Q4 2023Q3 2023Q4 2022Revenue$25.4 billion$21.1 billion$ 27 billionEarnings Per Share$2.46$1.57$3.62Net Income$2.1 billion$1.1 billion$3.5 billion Key Metric The contract negotiations slowed UPS’s traffic as consumers prepared for a potential strike, but CEO Carol Tomé said during the company’s last earnings report that shipping volume was beginning to return. However, disruptions prompted UPS to drop its full-year operating margin to 10.8%, lowering it a second time from the 11.8% p ...

Investors are always looking for stocks that are poised to beat at earnings season and United Parcel Service, Inc. (UPS) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because United Parcel Service is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible ...