UPS Profit Tops Estimates as Efficiency Push Counters Labor Cost
Bloomberg - 2024-04-23T10:06:59.155Z

United Parcel Service Inc. reported profit higher than analysts’ estimates as the courier’s headcount management and restructuring of its delivery routes began to bear fruit.

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UPS reported a 3.2% decline in average daily volumes in its domestic segment and a 5.8% drop in its international segment, but said volumes "showed improvement through the quarter". "Revenue in both major businesses, U.S. Domestic and International, fell short of expectations," said Jonathan Chappell, equity analyst at Evercore ISI, in a research note.
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United Parcel Service (NYSE:UPS) gained in early Tuesday trading after the company posted a mixed Q3 earnings report.
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In related news

UPS profit beats estimates as cost cuts offset weak delivery demand

UPS profit falls on high labor costs, weak small-package demand

UPS gains after efficiency improvement leads to profit beat