Why UPS Stock Is Up Today
United Parcel Service (NYSE: UPS) used cost cutting to offset soft demand and deliver a first-quarter beat. Investors appear more relieved than excited, sending UPS shares up as much as 3% on the day and up 1.8% as of 11 p.m. ET.
It has been a tough few quarters for major shipping companies. A period of post-pandemic inventory restocking fueled demand for transportation services, but in 2023, as doubts formed about the health of the economy, large corporate customers looked to cool their supply chains and cut back on expenses.
The trend continued through the first three months of 2024. UPS earned $1.43 per share in the first quarter, beating Wall Street's $1.30-per-share estimate, but revenue of $21.7 billion was down 5.3% from last year and fell slightly below expectations.
Source Fool.com
United Parcel Service Inc. Aktie
Die United Parcel Service Inc. Aktie genießt hohe Beliebtheit: Mehr Buy- (27) als Sell-Einschätzungen (4).
Für United Parcel Service Inc. sieht die Community ein leicht positives Kursziel von 102 €, verglichen mit dem aktuellen Kurs von 92.34 €.
