• 2 months 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.

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