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

FedEx (FDX) Trades Lower in Sympathy with UPS (UPS)

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%
... More

UPS to cut 12,000 jobs, explore options for Coyote business

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

UPS (UPS) Tops Q4 EPS by 1c, Misses on Revenue; Offers FY24 Guidance

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