UPS drops 5% as FY sales outlook misses consensus; Company to cut 12,000 jobs
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Go back to UPS drops 5% as FY sales outlook misses consensus; Company to cut 12,000 jobs
January 30, 2024 7:13 AM EST
FedEx (NYSE: FDX) Trades Lower in Sympathy with UPS (NYSE: UPS)
UPS -7% Following Results and GuidanceFDX -2%
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January 30, 2024 6:13 AM EST
By Lisa Baertlein and Ananta Agarwal
(Reuters) -United Parcel Service plans to cut 12,000 jobs and explore strategic options for Coyote, its volatile trucking brokerage business, after the world's largest parcel delivery company forecast full-year revenue below Wall Street's target.
Shares of Atlanta-based UPS tumbled 8% to $145.32 on the New York Stock Exchange amid weak demand from its retail, manufacturing and high tech customers.
The company plans to cut $1 billion in costs as it comes off a "difficult and disappointing" year, when volume, revenue and operating profit declined in all of its business segments, UPS CEO Carol... More
January 30, 2024 6:03 AM EST
UPS (NYSE: UPS) reported Q4 EPS of $2.47, $0.01 better than the analyst estimate of $2.46. Revenue for the quarter came in at $24.9 billion versus the consensus estimate of $25.4 billion.
For the full year 2024, UPS expects revenue to range from approximately $92.0 billion to $94.5 billion and consolidated adjusted... More
