Category: UPS News

Jim Cramer has been focused on earnings season and he’s taking a close look at UPS.

“What defines a winner in this earnings season? Let’s take United Parcel (UPS) , with a stock that vaulted 19 points on the strength of what looked like an amazing quarter, but that’s not what drove the stock higher at all. Yes, the gross margins were amazing and the pricing per package was unbelievably good, but what you needed to know about UPS is that the CEO, Carol Tome, has repeatedly been dismissed as someone who couldn’t tame the beast, the unwieldy package delivery company. That’s even despite that she had been on the board since 2003 and had seen what had gone wrong, even as she was the dominant CFO of her time, when she ran the finances of Home Depot (HD),” wrote Jim Cramer in his Real Money column Tuesday night.

UPS Inc. (NYSE:UPS) said Tuesday that it plans to expand its weekend ground residential delivery operations, a strategy designed to build greater traffic density across its daily delivery network and to close the weekend delivery gap with archrival FedEx Corp. (NYSE:FDX).

UPS CEO Carol Tomé told analysts following the release of the company’s first-quarter results that by October it will reach 90% of the U.S. population with its Saturday ground deliveries to residences. Currently, that number stands at a little higher than 75%.

In addition, UPS will expand its Sunday delivery network through its existing alliance with the U.S. Postal Service, Tomé said, without providing details. UPS’ ground residential network is virtually invisible on Sundays, although the Postal Service delivers some Sunday volume for UPS through the SurePost alliance between the two entities.

Gov. Andy Beshear visited the main UPS global air hub Tuesday in Louisville to highlight the role Kentuckians are playing in distributing coronavirus vaccines throughout the nation to save lives and end the pandemic.

The governor, joined by leaders at UPS including David Quintilion, senior vice president of UPS Healthcare, visited Worldport Core, where millions of packages are sorted on the way to their final destinations, the freight facility and the Healthcare Command Center, where they track and monitor vaccine shipments, including the temperature and location.

UPS has played a key role in delivering all three approved COVID-19 vaccines: Pfizer, Moderna and Johnson & Johnson.

The company has demonstrated a near-perfect track record of on-time delivery of vaccines across the country and around the world, even in spite of inclement weather that affected large portions of the United States.

Women make history every day, but Women’s History Month provides an opportunity to focus on those remarkable achievements.

In a male dominated career, Somerville Facility Driver Patricia Clark is the first female UPS driver in the Boston area to attain 25 years of safe driving. All without a single accident. She was able to achieve this remarkable goal while driving a large commercial vehicle on busy roads and through severe weather situations.

Patricia delivers in old Boston—the historic waterfront neighborhood of Charlestown. “It has the original brownstones. Cobblestone streets designed for horse and carriage. To get to this safe driving milestone in the extremely tight, old city environment makes her accomplishment remarkable,” said Business Manager Kevin Thibert.

Patricia joined the ranks of UPS as a part-time package handler in Watertown, Massachusetts thirty years ago. She was motivated to be a driver for the job security, good health care insurance and wages. She saw mostly men working in this field, but wasn’t deterred. She knew office work wasn’t for her. She liked the idea of working outdoors and on her own.

Shares of United Parcel Service Inc. broke out to record highs Tuesday, as they soared 10.8% in afternoon trading to pace the S&P 500’s gainers, in the wake of the package delivery giant’s blow out first-quarter results. In the two weeks leading up to the earnings report, the stock had closed within a relatively narrow range of $175.81 on Monday to a record $179.71 on April 16. What helped boost UPS profit to a record was the American Rescue Plan Act that President Biden signed into law on March 11. UPS Chief Financial Officer Brian Newman said on the post-earnings conference call with analysts said that law prompted UPS to remeasure the International Brotherhood of Teamsters’ pension plan at current discount rates, “which have significantly increased since year-end,” resulting in a $6.4 billion reduction in pension liability.