UPS

United Parcel Service (NYSE:UPS)  is one of the world’s largest companies, with 2022 revenue of $100.3 billion, and provides a broad range of integrated logistics solutions for customers in more than 220 countries and territories. Focused on its purpose statement, “Moving our world forward by delivering what matters,” the company’s more than 500,000 employees embrace a strategy that is simply stated and powerfully executed: Customer First. People Led. Innovation Driven. UPS is committed to reducing its impact on the environment and supporting the communities we serve around the world. UPS also takes an unwavering stance in support of diversity, equity and inclusion.

CFRA Keeps Hold Opinion On Shares Of United Parcel Service, Inc.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $150, cut $37, reflects a 14.5x multiple on our revised 2024 EPS estimate. The applied multiple is below UPS’s historical forward average, but is merited, in our view, by concerns over the pace of the U.S. market recovery. We cut our 2023 EPS estimate by $1.23 to $9.28 and 2024’s by $1.66 to $10.41. Q3 operating EPS of $1.57 vs. $2.99, beat the consensus view by $0.01, although the adjusted operating margin of 7.7% was well below the 13.0% number from the year-ago quarter. We note that margins narrowed on two major fronts: an 11% reduction in U.S. Ground freight volume, and a 6.6% reduction in International average daily volume. Management has been able to offset the volume deterioration to some degree […]

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UPS CEO Successfully Pitches New Labor Contract, Says 46% Of Compensation To Occur In First Year

United Parcel Service, Inc. (NYSE:UPS) management reportedly stated that the expenses related to the recent Teamsters contract are lower than the amount asserted by the union. UPS’s CEO Carol Tome said that the costs incurred by the company for the new Teamsters contract are less than the” $30 billion in new money” touted by the union, as the company aims to sell investors on the agreement, in an interview with CNBC. The contract is structured with 46% of the compensation occurring in the first year, and Tome considers it cost-effective and fair. “It’s a barbell structure where it’s heavier in the beginning of the contract.” Tome added. “We’ll go in the middle of the contract and it steps back down. This 46% of the cost increase happens in the first year, so imagine what the last four years of the contract are!” The increases “are really good for us and a

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UPS Seeks To Reduce Pilots Amid Drop In Air Freight Volume

United Parcel Service (NYSE:UPS) aims to entice 167 senior pilots to retire early, according to an offer that was disclosed to pilots this week. The company confirmed that it’s offering “a voluntary separation benefit to eligible UPS pilots.” “At UPS, we regularly assess our operations and make adjustments to better serve our customers,” UPS said in an emailed statement. The offer includes “a comprehensive compensation package that includes cash and healthcare benefits,” UPS said, without elaborating.

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United Parcel Service (NYSE:UPS) Q2 Adjusted Earnings, Revenue Drop; Lowers 2023 Revenue Outlook

United Parcel Service (NYSE:UPS) reported Q2 adjusted earnings  of $2.54 per diluted share, down from $3.29 a year earlier. Analysts polled by Capital IQ expected $2.50. Revenue for the quarter ended June 30 was $22.06 billion, down from $24.77 billion a year earlier. Analysts surveyed by Capital IQ expected $23.12 billion. The package delivery company said it now projects 2023 revenue of $93 billion. That compares with its prior guidance of $97 billion. Analysts polled by Capital IQ are looking for $96.56 billion.

United Parcel Service (NYSE:UPS) Q2 Adjusted Earnings, Revenue Drop; Lowers 2023 Revenue Outlook Read Post »

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