Category: UPS News

United Parcel Service Inc (UPS.N) reported a slightly lower quarterly net profit on Thursday due to U.S. hurricanes and higher costs for Saturday delivery but lifted its full-year forecast, citing global shipping strength and expectations for the crucial holiday season.

It’s beginning to look a lot like peak holiday season already

When United Parcel Service Inc. reports third-quarter earnings on Thursday, investors can’t say they weren’t warned.

“Earnings per share should be relatively flat when compared with last year,” UPS Chief Financial Operator Richard Peretz told analysts last quarter, as he gave guidance for the rest of the year. UPS expects the roll-off of 2016 tax benefits, currency headwinds, and one less calendar day in the quarter to all take a toll.

But as Seaport Global Securities analyst Kevin Sterling told MarketWatch, for UPS, the third quarter is just prelude to the key peak holiday season. That’s “their Super Bowl,” Sterling said.

Emergency personnel were called to the scene Wednesday morning, and traffic was backed up for several miles in westbound-traffic lanes of the Liberty Expressway after a fatal crash just west of the Blaylock Street bridge.

According to reports, the driver of a UPS truck was killed in what Albany police say was a three-vehicle collision.

Dougherty County Coroner Michael Fowler identified the deceased driver as Cathy Johnson, 64. He said she was driving a UPS delivery vehicle that ran into the back of an Oxford Construction Co. dumptruck.

United Parcel Service (UPS) is a well-known global logistics and distribution company. Its Americas Region office is located here in Miami, and in October 2014 the company began its partnership with the Parks Foundation of Miami-Dade. Initially, UPS reached out to the Foundation for an employee-driven tree-planting volunteer project at Highland Oaks Park in northeast Miami-Dade. This volunteer project would help contribute to UPS’ Global Forestry initiative, which had the goal of planting 15 million trees by 2020. It would also help with Parks’ Million Trees Miami initiative, whose goal was planting one million trees in Miami-Dade County by 2020. The Parks Foundation of Miami-Dade received a $20,000 grant from The UPS Foundation, which supplied the trees for the first employee tree-planting project that brought out more than 50 UPS Americas employees.

The top executive of United Parcel Service Inc said on Wednesday he is optimistic the U.S., Canadian and Mexican governments can successfully renegotiate NAFTA, and said not having a free trade agreement in place would not be good for the three countries’ economies.

“I‘m still optimistic, but I think we’re going to have to go through some difficult times just because each of the countries has issues specific to them,” UPS CEO David Abney told Reuters.

If a renegotiated treaty stimulates the economy, creates jobs and levels the playing field for the United States “then the North American market as a whole will be much stronger than without a free trade agreement,” he said.