UPS profit falls on high labor costs, weak small-package demand
CNBC - 2024-04-23T10:15:12.000Z

reported a decline in first-quarter profit on Tuesday, as margins came under pressure from subdued demand for small-package delivery and...

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UPS profit beats estimates as cost cuts offset weak delivery demand
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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- 2024-04-23T11:16:03.000Z
UPS Profit Tops Estimates as Efficiency Push Counters Labor Cost
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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- 2024-04-23T10:06:59.155Z
KeyCorp profit falls as higher deposit costs hurt interest income
KeyCorp reported a 33.5% drop in first-quarter profit on Thursday as its net interest income was eroded by higher deposit costs and elevated interest rates kept borrowers on the sidelines. U.S. banks have been grappling with increased funding costs as elevated interest rates prompt customers to move cash from banks to safe-haven higher-yielding alternatives like money-market funds for better returns. Net interest income (NII), or the difference between what a bank earns on loans and pays out...
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- 2024-04-18T11:36:01.000Z