UPS delivers profit, revenue beat on e-commerce demand


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UPS delivers profit, revenue beat on e-commerce demand - CNBC

United Parcel Service reported better-than-expected quarterly earnings and revenue on Tuesday, bolstered by strong e-commerce demand that has allowed the delivery firm to raise shipping prices and cherry-pick more profitable customers.

The company also raised its full-year adjusted operating margin target to about 13% from about 12.7%, ahead of the holiday season.

Shares of Atlanta-based UPS were up about 2% before the opening bell.

UPS and rival FedEx Corp are delivering record number of e-commerce packages amid labor shortages since Covid-19 shifted shopping online.


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UPS profit rises ahead of peak holiday season

In September, FedEx posted a 7% drop in quarterly profit and cut its full-year forecast after staffing shortages and turnover drove $450 million in excess labor costs and caused home delivery hiccups.

UPS appears to be benefiting from its unionized workforce, which is among the best compensated in the country. It is using technology and other tools to make its network more efficient - and during the latest quarter, direct labor hours per day declined 5.1%.

This holiday season, UPS will offer Saturday delivery across the United States and send oversized, bulky and heavy packages via Roadie - a crowd-sourced, same-day delivery company it is buying this quarter.