I started this.
UPS shares fall as consumer caution dims e-commerce outlook - ReutersUnited Parcel Service Inc on Tuesday reported better-than-expected quarterly earnings, but shares fell 3% after executives said they expected e-commerce delivery growth - which drove its pandemic business - to cool this year.
UPS now expects volume in its biggest U.S. business to fall in the first half of 2022 before improving in the latter part of the year.
"We're not going to see the kind of (e-commerce) growth that we experienced during COVID, but ecommerce sales will continue to grow," Chief Executive Officer Carol Tome said on a conference call with analysts.
Executives said higher shipping rates, fuel surcharges and more large and small business deliveries would offset softer demand for residential e-commerce package drops - as they did in the first quarter.