• 10 hours ago
United Parcel Service reported better-than-expected quarterly profits and raised its full-year adjusted operating margin forecast. The company attributed this to its decision to divest its volatile truckload brokerage business, Coyote Logistics. UPS saw an increase in average daily volumes in its domestic segment, with an adjusted operating margin rising from a year ago. UPS has experienced a shift from premium air services to lower-profit ground services, driven by new e-commerce entrants like Shein and Temu. Shares of UPS rose in premarket trading.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02UPS reported better-than-expected quarterly profits and raised its full-year adjusted
00:06operating margin forecast. The company attributed this to its decision to divest its volatile
00:12truckload brokerage business, Coyote Logistics. UPS saw an increase in average daily volumes in
00:18its domestic segment, with an adjusted operating margin rising from a year ago.
00:22UPS has experienced a shift from premium air services to lower-profit ground services driven
00:27by new e-commerce entrants like Shein and Timu. Shares of UPS rose in pre-market trading.
00:33For all things money, visit Benzinga.com slash GSTV.

Recommended

0:37
I
Up next
Hurricane Helene Caused A Record $53 Billion In Damages In North Carolina. Gov. Roy Cooper Calls It The Deadliest Storm In State's History.
Benzinga
0:43
As Russian President Vladimir Putin Strengthens Ties With China, Iran, And North Korea, Neutrality Becomes More Complex For BRICS Nations
Benzinga
0:42
IBM Shares Slip On Q3 Net Loss Tied To One-Time Pension Charge
Benzinga
0:42
McDonald’s Halts Quarter Pounders Amid E. Coli Outbreak. Beef Patties, Onions Suspected Ingredients.
Benzinga
0:43
Boeing Machinists Reject 35% Wage Increase, Extending Strike That Halts Aircraft Production
Benzinga
0:38
T-Mobile Surpasses Quarterly Subscriber Growth Expectations, Driven by Discounted 5G Plans Bundling Streaming Services
Benzinga
0:35
Wall Street Ends Lower Amid 10-Year Treasury Yield Surge. Analysts Rate Cuts, Election Driving Market Volatility.
Benzinga
0:34
FedEx Quarterly Profit Drops as Customers Opt for Cheaper, Slower Shipping Alternatives. Shares Drop 11% Premarket.
Benzinga
0:30
Tesla CEO Elon Musk Apologizes To 'Long Suffering' Deposit Holders Of New Roadster, But Says The Delay Is 'Cherry On The Icing On The Cake'
Benzinga
3:02
85 Flights Received Bomb Threats TODAY| Bomb Threats Disrupts Indian Airspace, 250+ Flights Affected
Oneindia
0:49
FedEx Beats Analyst Estimates with Strong Q4 Earnings and Revenue, on Track to Achieve $4 Billion Cost-Cutting Goal by 2025
Benzinga
1:31
Twitter Is Now 'X'
Wibbitz Top Stories
0:39
FedEx Shares Soar as Company Beats Earnings Estimates and Unveils $2.5 Billion Buyback Plan
Benzinga
3:39
Soren and Bauri enter Jharkhand battle,Thackeray fires shots at BJP-Shinde in Maharashtra polls
Oneindia
0:54
This Day in History: John F. Kennedy Is Assassinated
Wibbitz Top Stories
0:32
DoorDash Exceeds Revenue Expectations in Q2 Performance, Sees Surge in Total Orders
Benzinga
0:34
Snap's Q3 Guidance Falls Below Analyst Expectations, as Monthly Active Users Exceed Expectations
Benzinga
0:31
Cava Sees Stock Surge 7% Amid Impressive Q2 Results.
Benzinga
0:34
Oracle Stock Poised for Record High After Cloud Company Exceeds Revenue Expectations. Soars 9% Following Earnings Beat.
Benzinga
0:45
Salesforce Beats Earnings and Revenue Expectations
Benzinga
0:30
Macy's Lowers Yearly Sales Forecast Amid Cautious Consumer Spending and Mixed Q2 Results
Benzinga
0:37
American Airlines Lowers Profit Forecast Amid Analyst Skepticism Over Strategy Moves
Benzinga
0:34
American Airlines Raises Profit Forecast Despite Q3 Loss
Benzinga
0:40
Global Chipmakers Rise as Micron's Strong Revenue Forecast Spurs Global Chip Stock Rally
Benzinga
0:31
Amazon-backed Deliveroo Surges to First-Ever Profit in First Half of 2024, Reports 'Positive Inflection' in Consumer Demand
Benzinga