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The Latest UPS Headlines
UPS Posts Strong Gains as Package Volumes Swell
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<blockquote data-quote="cheryl" data-source="post: 4660998" data-attributes="member: 1"><p><strong>UPS Posts Strong Gains as Package Volumes Swell - Morningstar</strong></p><p></p><p>United Parcel Service Inc. is delivering more packages, but it is paying a much bigger price to do so.</p><p></p><p>The delivery giant said revenue rose nearly 16% in the third quarter and profit rose 11.8% amid an influx of packages moving domestically and internationally during the pandemic. Despite the boost, UPS's large domestic business posted a sharp decline in profits due to the need to hire tens of thousands of new workers, lower margins from delivering packages to homes and $179 million in spending to speed up delivery times.</p><p></p><p>The decline in U.S. profits and continued higher costs heading into the holiday season weighed on shares, which fell more than 5% in early trading amid a broader market selloff. They are still up nearly 40% for the year.</p></blockquote><p></p>
[QUOTE="cheryl, post: 4660998, member: 1"] [B]UPS Posts Strong Gains as Package Volumes Swell - Morningstar[/B] United Parcel Service Inc. is delivering more packages, but it is paying a much bigger price to do so. The delivery giant said revenue rose nearly 16% in the third quarter and profit rose 11.8% amid an influx of packages moving domestically and internationally during the pandemic. Despite the boost, UPS's large domestic business posted a sharp decline in profits due to the need to hire tens of thousands of new workers, lower margins from delivering packages to homes and $179 million in spending to speed up delivery times. The decline in U.S. profits and continued higher costs heading into the holiday season weighed on shares, which fell more than 5% in early trading amid a broader market selloff. They are still up nearly 40% for the year. [/QUOTE]
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