Tag: $UPS

United Parcel Service  stock rose after the company reported better-than-expected earnings.

United Parcel Service will become the United States Postal Service’s (USPS) primary air cargo provider, the company said on Monday, as rival FedEx walked away after pressing for a better new contract with the U.S. agency.

This past year was more difficult than United Parcel Service imagined when it set three-year goals at an investor event in 2021.

United Parcel Service stock is dropping after the shipping giant posted weaker-than-expected operating profit. The initial outlook for 2024 isn’t helping either.

United Parcel Service -1.60% reported third-quarter earnings that met Wall Street’s reduced expectations. The problem was with guidance.

UPS CEO Carol Tome said 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.

United Parcel Service on Tuesday cut its full-year revenue and margin forecasts and its shares fell 5.1% in premarket trading, as the world’s largest delivery company expects a hit to volumes from a new labor contract.

Negotiations between the Teamsters and UPS deadlocked last week, with the world’s biggest package delivery company saying it had no more to give and the Teamsters demanding better pay for workers who missed out on labor shortage-driven pay increases during the COVID-19 pandemic.

United Parcel Service UPS +2.52% was falling in premarket trading Wednesday after the Teamsters union said talks with the management had ended without an agreement.