MIAMI BEACH, FLORIDA - JANUARY 30: A UPS truck is parked as a driver makes a delivery on January 30, ... [+] 2024 in Miami Beach, Florida. The UPS company announced that it will cut 12,000 jobs as part of a bid to save $1 billion in costs. Managers and contractor positions are reported to be what will make up most of the layoffs. (Photo by Joe Raedle/Getty Images)Getty ImagesUPS (NYSE: UPS) recently reported its Q4 results, with revenues missing but earnings marginally ahead of the street estimates. The com ...

United Parcel Service (UPS) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this package delivery service have returned -8.8% over the past month versus the Zacks S&P 500 composite's +5.6% change. The Zacks Transportation - Air Freight and Cargo industry, to which UPS belongs, has lost 6.3% over this period. Now the key question is: Where could the stock be headed in the near ...

A well-regarded analyst is warming up to United Parcel Service (UPS 4.73%), and investors are taking notice. Shares of the transportation giant were up 4% as of 11 a.m. ET after UBS upgraded the stock from neutral to buy.Calling a bottom on UPS sharesShipping is a cyclical business, and UPS investors over the past year have gained first-hand experience of what a down cycle feels like. The company's shares have fallen nearly 30% in the last 12 months due to declining volumes and higher costs.UPS failed to de ...

Shares in UPS (UPS 0.36%) declined by 10.6% in the week to Friday morning, according to data provided by S&P Global Market Intelligence. There are no prizes for guessing why. The company's fourth-quarter earnings report left investors feeling underwhelmed on Tuesday after management gave lackluster guidance for 2024 and warned investors it's likely to get worse before it gets better.UPS struggles in 2023It's fair to say last year wasn't an outstanding one for UPS. The company got hit with weaker-than-expect ...

UPS announced Tuesday that it plans to cut 12,000 jobs after its revenue forecast missed analysts' estimates. UPS said in a statement to FOX Business that its right-sizing its global workforce after having lower volume and seeing a more than $9 billion decline in revenue year over year. The company blamed these issues on the "dynamic external and economic conditions" in 2023. UPS Chief Executive Carol Tomé echoed this in the company's earnings report, saying that 2023 was "a unique and difficult year."  THE ...

United Parcel Service, Inc. (UPS) fourth-quarter 2023 earnings per share of $2.47 beat the Zacks Consensus Estimate of $2.44 but declined 31.7% year over year. Revenues of $24.91 billion fell short of the Zacks Consensus Estimate of $25.30 billion and decreased 7.8% year over year.UPS generated $10.23 billion of net cash from operating activities in 2023. Capital expenditures were $5.15 billion. Free cash flow was $5.25 billion. The overall adjusted operating profit fell 27.1% year over year to $2.78 billio ...

United Parcel Service, Inc. (NYSE:UPS) Q4 2023 Earnings Conference Call January 30, 2024 8:30 AM ET Corporate Participants PJ Guido - Investor Relations Officer Carol Tome - Chief Executive Officer Brian Newman - Executive Vice President and Chief Financial Officer Nando Cesarone - Executive Vice President and President, US Kate Gutmann - Executive Vice President and President International, Healthcare and Supply Chain Solutions Conference Call Participants Chris Wetherbee - Citigroup David Vernon - Bernste ...

UPS is cutting jobs and considering selling one of its businesses as shipping volumes decline.The shipping giant will eliminate 12,000 positions — chiefly full-time and part-time management roles and contract workers — in a bid to save $1,000,000, the company said during an earnings call Tuesday (Jan. 30).“2023 was a unique and, quite candidly, difficult and disappointing year,” said UPS CEO Carole Tomé. “We experienced declines in volume, revenue and operating profit and all three of our business segments. ...

United Parcel Service, Inc. (NYSE:UPS) narrowly beat fourth-quarter earnings expectations, while revenue of 24.9 million missed the mark. The delivery giant's full-year revenue forecast came in below analysts' estimates of $95.57 billion, amid weakened international and domestic e-commerce demand. Additionally, the company will cut 12,000 jobs and explore strategic options for truckload freight brokerage business Coyote.UPS is down 7.9% at $145.62 at last check, but the $144 region, which rejected an Octobe ...

The job cuts in 2024 are continuing.UPS is set to reduce its headcount by 12,000 jobs in 2024 following a historic pay agreement with its drivers.UPS CEO Carol Tomé cited soft demand and the recent labor contract as reasons for missing analysts' expectations on a Tuesday earnings call. The subsequent moves are a part of the company's "fit to serve" initiative, and Tomé said it will save UPS $1 billion in 2024.Three-quarters of the layoffs will take place in the first half of the year. About 14% of the shipp ...