当地时间4月29日，快递巨头美国联合包裹运送服务公司（UPS）表示，将裁员2万人以降低成本。据外 媒分析显示，在第一季度财报季的前两周，全球约有40家公司撤回或下调了2025年的业绩预期，其中包 括通用汽车公司、沃尔沃汽车公司、美国番茄酱制造商卡夫亨氏、电脑周边设备制造商罗技公司 、美 国捷蓝航空公司和其他蓝筹股公司。（日月谭天） ...

美股周二收高，道指与标普500指数连续第六日上涨。美财长称贸易谈判取得进展，美商务部长称已与 某个国家达成贸易协议，特朗普称"与印度谈判进展非常顺利，我认为我们在关税问题上达成了协 议。"但据摩根大通对495位投资者的最新调查显示，标普500指数今年已见顶，未来12个月内无法重返 2025年的高点。93%的投资者认为标普500指数在未来12个月将徘徊在6000点及以下，其中40%预计指 数将保持在5000-5500点区间。近三分之一的投资者预计标普500指数今年将跌破5000点。投资者普遍认 为，贸易战和关税不确定性将引发经济后果，20%的受访者预计经济将面临硬着陆衰退，61%预计未来 12个月美国经济将遭遇滞胀。此外，投资者预计2025年美元将进一步走软，美国核心个人消费支出通胀 到年底将达到3%。尽管市场整体悲观，但41%的投资者仍看好"Mag-7/GenAI主题"的多年（中期）投资 机会，倾向于逢低买入，另有9%的人倾向于忽略噪音，并将继续增加配置。 评论员简佳：特朗普政府的关税政策对美国经济和金融市场产生了深远的负面影响，将使美国2025年 GDP增长预期降至0.5%，其中关税带来的负面冲击约为2个百 ...

智通财经APP获悉，周二，三大指数上涨，道指与标普500指数连续第六日上涨。美国商务部长卢特尼 克周二在接受采访时表示，他已与一个匿名的国家达成了一项贸易协议。他表示："我的一项协议已经 达成，达成，达成，达成。但我需要等待他们的领导人和他们的议会批准，我预计那将很快。"这项贸 易协议将是本届特朗普政府达成的第一项贸易协议。不过卢特尼克没有说出国名。 【美股】截至收盘，道指涨300.03点，涨幅为0.75%，报40527.62点；纳指涨95.18点，涨幅为0.55%，报 17461.32点；标普500指数涨32.08点，涨幅为0.58%，报5560.83点。 【欧股】德国DAX30指数涨159.23点，涨幅0.72%，报22416.02点；英国富时100指数涨46.54点，涨幅 0.55%，报8463.88点；法国CAC40指数跌17.89点，跌幅0.24%，报7555.87点；欧洲斯托克50指数跌 10.74点，跌幅0.21%，报5159.75点；西班牙IBEX35指数跌86.44点，跌幅0.64%，报13360.16点；意大利 富时MIB指数涨381.48点，涨幅1.02%，报37847.00点。 【亚太 ...

Core Viewpoint - United Parcel Service, Inc. (UPS) reported first-quarter 2025 earnings of $1.49 per share, exceeding the Zacks Consensus Estimate of $1.44 and showing a year-over-year increase of 4.2% [1] - Revenues for the quarter were $21.5 billion, surpassing the Zacks Consensus Estimate of $21.1 billion but reflecting a 0.7% decline year over year [1] Financial Performance - U.S. Domestic Package revenues reached $14.46 billion, a 1.4% year-over-year increase, driven by air cargo growth and a 4.5% rise in revenue per piece, despite a decline in volume [3] - The segment's operating profit (adjusted) grew 19.3% year over year to $1.01 billion, with an adjusted operating margin of 7% [3] - International Package division revenues totaled $4.37 billion, up 2.7% year over year, supported by a 7.1% increase in average daily volume, although adjusted operating profit fell 4.1% to $654 million, with a 15% operating margin [4] - Supply Chain Solutions revenues decreased 14.8% year over year to $2.71 billion due to the divestiture of Coyote, with adjusted operating profit down 55% to $98 million and an adjusted operating margin of 3.6% [5] - The overall adjusted operating margin for UPS was 8.2% [5] Strategic Outlook - CEO Carol Tomé emphasized the company's commitment to leveraging its integrated network and trade expertise to navigate the dynamic trade environment, while also focusing on cost reduction and network reconfiguration [2] - UPS is not providing updates to its previously issued consolidated full-year outlook due to macroeconomic uncertainties [6] Industry Context - UPS holds a Zacks Rank of 3 (Hold), indicating a neutral outlook in the current market [8] - The company is positioned to benefit from increased e-commerce, automation, and outsourcing trends, which may enhance its performance [7]

1Q25 Earnings Call April 29, 2025 1 | . | | --- | | . | | . | | . | | . | | . | | .. | | .. | PJ GUIDO Investor Relations Officer © 2025 United Parcel Service of America, Inc. UPS, the UPS brandmark, and the color dark brown tone are trademarks of United Parcel Service of America, Inc. All rights reserved. 2 UPS Speakers CAROL B. TOMÉ Chief Executive Officer BRIAN DYKES Chief Financial Officer © 2025 United Parcel Service of America, Inc. UPS, the UPS brandmark, and the color dark brown tone are trademarks ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q1 2025 was $21.5 billion, a decrease of 0.7% year-over-year, aligning with expectations [7][30] - Consolidated operating profit increased by 0.9% to $1.8 billion, with an operating margin of 8.2%, up 20 basis points from the previous year [7][30] - Diluted earnings per share rose by 4.2% to $1.49 [7][30] Business Line Data and Key Metrics Changes - U.S. Domestic segment operating profit increased by $164 million year-over-year, with an operating margin expansion of 110 basis points [8] - Total U.S. average daily volume (ADV) decreased by 3.5%, with ground ADV down 2.5% and air ADV down 9.6% [32] - International segment ADV increased by 7.1%, with export ADV growing by 9.3% year-over-year [38][39] Market Data and Key Metrics Changes - SMBs accounted for 31.2% of total U.S. volume, the highest concentration in ten years, driving changes in overall volume and revenue quality [34][19] - U.S. import volume is approximately 400,000 pieces per day, representing less than 2% of total global ADV [21] - Revenue from China to U.S. trade lanes represented 11% of total international revenue, with other trade lanes to the U.S. accounting for 17% [21] Company Strategy and Development Direction - The company is executing a significant network reconfiguration, including 164 operational closures, to optimize capacity and reduce dependency on labor [14][43] - The strategic focus includes improving revenue quality and expanding in healthcare, international, B2B, and SMB markets [18] - The company aims to achieve $1 billion in savings through the Efficiency Reimagined initiative, which targets process improvements and cost reductions [17][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the uncertain market, emphasizing the agility of their integrated network [28] - The company is not providing updates to the full-year outlook due to market uncertainties but is focused on executing strategic and financial goals [27][50] - Management highlighted the importance of modeling different scenarios to adapt to rapid shifts in business conditions [26][50] Other Important Information - The company plans to close 73 buildings by June 2025 as part of its network reconfiguration [43][48] - The first quarter saw $2.3 billion in cash from operations and $1.5 billion in free cash flow [42] - The company is leveraging next-gen brokerage technology to assist customers in navigating tariff changes [25] Q&A Session Summary Question: Cost savings from the $3.5 billion target - Approximately $500 million of the $3.5 billion cost savings was realized in Q1, with expectations for ramp-up in subsequent quarters [60][78] Question: Automation and efficiency initiatives - The company is exploring automation in various operations, aiming for significant cost savings and reduced labor dependency [70][74] Question: Impact of tariffs on SMBs - SMBs are facing challenges due to tariffs, with many being single-sourced from China, leading to uncertainty in the marketplace [80][81] Question: International volume growth outlook - The company anticipates a shift in trade flows, with potential growth opportunities outside the U.S. despite current uncertainties [89][90] Question: Domestic business performance and pricing strategies - The GroundSaver product has seen an intentional decline in volume as the company adjusts its cost structure and focuses on revenue quality [94][95]

Core Insights - UPS is undergoing significant restructuring to enhance long-term profitability amid a challenging macro environment, focusing on controlling internal factors and executing strategic initiatives [1][4][12] Operational Changes - The company plans to close 164 operations and 73 buildings by the end of June to eliminate redundant infrastructure and realign capacity with demand [2] - UPS expects to reduce operational hours by approximately 25 million and cut around 20,000 positions, while continuing investments in automation and technology [3] - A planned volume reduction from Amazon is expected to exceed 50% by June 2026, reflecting a shift away from low-margin accounts [3][4] Financial Performance - UPS' first-quarter U.S. domestic revenue rose 1.4% to $14.5 billion, driven by air cargo increases and a 4.5% rise in revenue per piece, marking the strongest growth rate in eight quarters [6] - International revenue increased 2.7% to $4.4 billion, supported by a 7.1% rise in average daily volume, although non-GAAP operating profit fell 4.1% due to shifts toward more economical services [7] Strategic Initiatives - Under the "Efficiency Reimagined" initiative, UPS aims for $1 billion in savings in 2025 and a total of $3.5 billion in cost reductions by year-end [6] - New services like SurePost Final Mile delivery and Ground Saver are being introduced to enhance competitive positioning and cater to cost-conscious customers [10][11] - The acquisition of Andlauer Healthcare Group is intended to strengthen UPS' healthcare logistics capabilities, addressing a growing segment in global supply chains [11] Market Dynamics - SMBs now account for 31.2% of total U.S. volume, diversifying UPS' customer base away from major retailers [5] - The company is closely monitoring potential trade policy adjustments, particularly in the U.S.-China corridor, with international revenues expected to decline about 2% due to weakening demand [8]

Company Actions - United Parcel Service (UPS) announced it will cut approximately 20,000 jobs, representing about 4% of its workforce, and close 73 facilities to reduce costs amid economic uncertainty and a potential decrease in business from its largest customer, Amazon [1][5] - UPS previously reached an agreement with Amazon to reduce shipping volume by 50% by the second half of 2026, with Amazon accounting for 11.8% of UPS' overall revenue in 2024 [5] Economic Context - A slowdown in global trade is expected to decrease the demand for shipping services, which could negatively impact parcel delivery companies [2] - UPS CEO Carol Tome highlighted that the current trade environment presents unprecedented challenges not seen in over a century [2] Financial Implications - UPS anticipates expenses between $400 million and $600 million related to separation benefits and lease-related cuts in 2025 following previous workforce reductions [6] - The company is also facing a decline in volume from e-commerce sellers linked to China, such as Temu and Shein, due to new tariffs on previously duty-free goods [9] Strategic Initiatives - To assist customers with tariff and trade policy changes, UPS launched a website providing updates and expert connections [9] - UPS introduced a new Global Checkout service that displays customs fees and duties on international purchases at checkout [10]

Core Viewpoint - United Parcel Service (UPS) plans to cut 20,000 jobs and close 73 buildings due to weakened demand from Amazon and the impact of tariffs, expecting to save $3.5 billion this year [1][3]. Group 1: Job Cuts and Cost Savings - UPS announced a reduction of 20,000 jobs as part of its strategy to manage costs amid declining demand [1][5]. - The company anticipates saving $3.5 billion this year through these job cuts and the closure of 73 leased and owned buildings by the end of June [1][3]. Group 2: Financial Projections and Economic Environment - UPS projects expenses between $400 million to $600 million in 2025 related to separation benefits and lease costs [2]. - The company is not updating its full-year forecast due to economic uncertainty but is implementing cost-reduction measures [3][7]. - UPS reported first-quarter revenue of $21.5 billion, exceeding expectations, with revenue in its US segments growing 1.4% to $14.46 billion despite overall volume declines [13][14]. Group 3: Impact of Tariffs and Market Dynamics - The company is facing reduced deliveries from Amazon, which accounted for 11.8% of its revenue last year, and is also impacted by tariffs affecting trade with China [4][7]. - The tariffs, including a 145% rate on Chinese goods, are expected to slow trade and affect parcel delivery firms as consumers reduce purchases from overseas [7][12].

Topline UPS announced Tuesday it would lay off 20,000 workers this year, despite beating first-quarter profit estimates, as the shipping giant expects a decline in deliveries after cutting its shipments for Amazon in half earlier this year. The shipping giant halved its deliveries for Amazon earlier this year. Getty Images Key Facts UPS expects to save $3.5 billion in 2025 after cutting 20,000 jobs and closing 73 leased and owned buildings by the end of June, the company announced in its first-quarter earni ...