UPS and FedEx warn coronavirus outbreak could hurt operations

Discussion in 'The Latest UPS Headlines' started by cheryl, Mar 3, 2020.

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  1. cheryl

    cheryl I started this. Staff Member

    UPS and FedEx warn coronavirus outbreak could hurt operations - Reuters

    U.S. package delivery companies United Parcel Service Inc and FedEx Corp warned on Tuesday that the coronavirus outbreak could disrupt shipment of goods in affected countries and possibly weigh on their first-quarter results.

    "The business obviously slowed," said UPS Chief Financial Officer Brian Newman while speaking at a Raymond James investors conference. (bit.ly/32K2pF6)

    Newman said although it was too early for UPS to quantify the impact of the disruption, the company was seeing a rebound in demand this week as fresh cases of infections slowed.

    “Our planes are flying in and out of China right now...I think we’re trying to position ourselves to take advantage of some pent-up demand,” Newman said.